The Flying Elvis Copter Rides
Quantity
| Total Cost
| Fixed Cost
| Variable Cost
| Marginal Cost
| Average Fixed Cost
| Average Variable Cost
| Average Total Cost
|
| $50
| $50
| $0
| --
| --
| --
| --
|
| $150
| A
| B
| C
| D
| E
| F
|
| G
| H
| I
| $120
| J
| K
| L
|
| M
| N
| O
| P
| Q
| $120
| R
|
32. Refer to Table 13-5. What is the value of A?
a.
| $25
|
b.
| $50
|
c.
| $100
|
d.
| $200
|
33. Refer to Table 13-5. What is the value of B?
a.
| $25
|
b.
| $50
|
c.
| $100
|
d.
| $200
|
34. Refer to Table 13-5. What is the value of C?
a.
| $25
|
b.
| $50
|
c.
| $100
|
d.
| $200
|
35. Refer to Table 13-5. What is the value of G?
a.
| $30
|
b.
| $120
|
c.
| $220
|
d.
| $270
|
36. Refer to Table 13-5. What is the value of L?
a.
| $60
|
b.
| $135
|
c.
| $240
|
d.
| $270
|
37. Refer to Table 13-5. What is the value of O?
a.
| $40
|
b.
| $140
|
c.
| $360
|
d.
| $410
|
38. The most likely explanation for economies of scale is
a.
| coordination problems.
|
b.
| specialization of labor.
|
c.
| increasing marginal cost.
|
d.
| decreasing marginal cost.
|
39. In the long run Firm A incurs total costs of $1,050 when output is 30 units and $1,200 when output is 40 units. Firm A exhibits
a.
| diseconomies of scale because total cost is rising as output rises.
|
b.
| diseconomies of scale because average total cost is rising as output rises.
|
c.
| economies of scale because total cost is rising as output rises.
|
d.
| economies of scale because average total cost is falling as output rises.
|
40. When a firm experiences constant returns to scale,
a.
| long-run average total cost is unchanged, even when output increases.
|
b.
| long-run marginal cost is greater than long-run average total cost.
|
c.
| long-run marginal cost is less than long-run average total cost.
|
d.
| the firm is likely to experience coordination problems.
|