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(solved) ECO111 Microeconomics

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Added on  2020-11-13

(solved) ECO111 Microeconomics

   Added on 2020-11-13

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ECO111 MicroeconomicsClass: IB1504Term: Handed out: Time allowed: Student InformationNAME:ĐỖ THỊ MAI HƯƠNGROLL NUMBER:HS150179ROOM NO:CLASS:IB1504 FOR TEACHER ONLY1. Totalrevenueequalsa.totaloutputmultipliedbypriceperunitofoutput.b. totaloutputdividedbyprofit.c.(totaloutputmultipliedbysalesprice)-inventorysurplus. d.(totaloutputmultipliedbysalesprice)-inventoryshortage.MARKMARKED BY(NAME AND SIGNATURE)Signature of Proctor
(solved) ECO111 Microeconomics_1
2. Whenaddinganotherunitoflaborleadstoanincreaseinoutputthatissmallerthanincreasesin outputthatresultedfromaddingpreviousunitsoflabor,wehavethepropertyofa.diminishinglabor. b. diminishingoutput.c.diminishing marginal product.d. negativemarginalproduct.3. Assumethatagivenfirmexperiencesdecreasingmarginalproductoflaborwiththeadditionofeachworkerregardlessofthecurrentoutputlevel:averagefixedcostwillbea.alwaysrising. b. always falling.c.U-shaped.d. constant.4. Economiesofscaleoccurwhena. long-runaveragetotalcostsriseasoutputincreases.b. long-run average total costs fall as output increases.c. averagefixedcostsarefalling.d. averagefixedcostsareconstant.5. Whenafirminacompetitivemarketreceives$500intotalrevenue,ithasa marginalrevenueof$10.Whatistheaveragerevenue,andhowmanyunitsweresold?a. $5and100b. $10 and 50c. $10and100d. Theanswercannotbedeterminedfromtheinformationgiven.6. Ifmarginalcostexceedsmarginalrevenue,thefirma.is most likely to be at a profit-maximizing level of output.b. shouldincreasethelevelofproductiontomaximizeitsprofit. c.mustbeexperiencinglosses.d. maystillbeearningaprofit.
(solved) ECO111 Microeconomics_2
(solved) ECO111 Microeconomics_3

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