What is the effect of having one person do the whole job from start to finish?

Marginal Costs and Production Quiz

Quiz
•
Financial Education
•
9th Grade
•
Hard
Bassant Elassal
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Increases efficiency
Reduces marginal costs
Increases marginal costs
Has no effect on costs
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to marginal costs as specialization helps increase production?
They remain constant.
They go down at first, then go up.
They continuously decrease.
They continuously increase.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In monopolistic competition, what shape does the marginal cost (MC) curve have?
U shape
V shape
Horizontal line
Downward slope
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the marginal revenue (MR) curve described in monopolistic competition?
U shape
Downward sloping
Perfectly horizontal
Vertical line
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the result of producing beyond point 'A' in the context of the document?
Profit
Loss
Break-even
Surplus
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In monopolistic competition, what control do firms have over pricing?
No control
Full control
Some control
Total control
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the key for a firm to continue operating in the short run under monopolistic competition?
Lowering prices
Increasing production
Differentiating its product
Reducing costs
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