ECON 315- SI- Week 7.1

ECON 315- SI- Week 7.1

University

13 Qs

quiz-placeholder

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ECON 315- SI- Week 7.1

ECON 315- SI- Week 7.1

Assessment

Quiz

Mathematics

University

Practice Problem

Easy

CCSS
HSA.REI.D.10, HSA.APR.A.1, HSA.CED.A.4

+9

Standards-aligned

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13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

 A firm total cost function is as follows: TC= 2000+30Q-5Q^2+0.5Q^3. Find AVC

30 -5Q +0.5Q^2

30 -5Q +2Q^2

15 -5Q +0.5Q^2

30 -5Q +0.5Q^-2

Tags

CCSS.HSA.APR.A.1

CCSS.HSA.CED.A.4

CCSS.HSA.SSE.A.1

CCSS.HSA.SSE.A.2

CCSS.HSA.SSE.B.3

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An economist estimated that the cost function of a single-product firm is 

C(Q)= 50 +25Q +30Q^2+5Q^3. Find TFC and TVC at 10 units of output

TFC= 8250, TVC = 50

TFC= 50, TVC = 8250

TFC= 100, TVC = 8250

TFC= 50, TVC = 850

Tags

CCSS.HSA.APR.A.1

CCSS.HSA.SSE.A.1

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the cost function of a single-product firm is 

C(Q)= 50 +25Q +30Q^2+5Q^3. Find MC at 10 units of output

2305

2105

2125

2115

Tags

CCSS.HSA.APR.A.1

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

If a firm’s total cost function is TC = 400 + 5Q -3Q2 + 2Q3, what is the firm’s ATC if it produces 20 units of output?

725

745

755

765

Tags

CCSS.HSA.APR.A.1

CCSS.HSA.CED.A.4

CCSS.HSA.SSE.A.1

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which costs could change that would be irrelevant to decisions moving forward?

All costs are relevant

Both orange and pink are correct

TFC

Sunk costs

Tags

CCSS.HSS.MD.B.5

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

is continually downward sloping

Tags

CCSS.HSA.REI.D.10

CCSS.HSF.IF.B.4

CCSS.HSF.IF.C.7

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

U-Shaped curve passes through the minimum of ATC and AVC

Tags

CCSS.HSA.CED.A.2

CCSS.HSA.REI.D.10

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