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Test Bank For Managerial Economics 4th Edition Luke M. Froeb

  • ISBN-10 ‏ : ‎ 1305259335
  • ISBN-13 ‏ : ‎ 978-1305259331
  • Publisher ‏ : ‎ Cengage Learning; 4th edition
  • Authors: Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Original price was: $55.00.Current price is: $28.00.

SKU:TB0001035

Test Bank For Managerial Economics 4th Edition Luke M. Froeb

1. ​Variable costs are

a. ​costs that vary with output

b. ​not important in decision making

c. ​costs that do not vary with output

d. ​equal to total costs

ANSWER: a

TOPICS: Section 1: Background: Variable, fixed and Total Costs

2. ​A business incurs the following costs per unit: Labor $125/unit; Materials $45/unit and rent $250,000/month. If the firm produces 1,000,000 units a month, the total variable costs equal

a. ​$125Million

b. ​$45Million

c. ​$1Million

d. ​$170Million

ANSWER: d

TOPICS: Section 1: Background: Variable, fixed and Total Costs

3. ​A business incurs the following costs per unit: Labor $125/unit; Materials $45/unit and rent $250,000/month. If the firm produces 1,000,000 units a month, the total fixed costs equal

a. ​$250,000

b. ​$50,000

c. ​$20,500

d. ​$30,000

ANSWER: a

TOPICS: Section 1: Background: Variable, fixed and Total Costs

4. ​A business incurs the following costs per unit: Labor $125/unit; Materials $45/unit and rent $250,000/month. If the firm produces 1,000,000 units a month, the total costs equal

a. ​$125,250,000

b. ​$170,250,000

c. ​$125,050,000

d. ​$170,050,000

ANSWER: b

TOPICS: Section 1: Background: Variable, fixed and Total Costs

5. ​Firm X is producing 1000 units, selling them at $15 each. Variable costs are $3 per unit and the firm is making an accounting profit of $3000. What is the firm’s fixed costs?

a. ​$9,000

b. ​$10,000

c. ​$11,000

d. ​$12,000

ANSWER: a

TOPICS: Section 1: Background: Variable, fixed and Total Costs

6. ​Firm X is producing 1000 units, selling them at $15 each. Variable costs are $3 per unit and the firm is making an accounting profit of $3000. What is the firm’s total variable costs?

a. ​$1000

b. ​$3000

c. ​$5,000

d. ​$7,000

ANSWER: b

TOPICS: Section 1: Background: Variable, fixed and Total Costs

7. ​Firm X is producing 1000 units, selling them at $15 each. Variable costs are $3 per unit and the firm is making an accounting profit of $3000. What is the firm’s total costs?

a. ​$10,000

b. ​$11,000

c. ​$12,000

d. ​$13,000

ANSWER: c

TOPICS: Section 1: Background: Variable, fixed and Total Costs

8. ​Fixed costs are

a. ​costs that vary with output

b. ​always equal to marginal costs

c. ​costs that do not vary with output

d. ​equal to total costs

ANSWER: c

TOPICS: Section 1: Background: Variable, fixed and Total Costs

9. ​In the short-run:

a. ​All inputs are variable

b. ​Some inputs are fixed and some inputs are variable

c. ​There are no fixed inputs

d. ​The firm is not restricted in how much it can produce

ANSWER: b

TOPICS: Section 1: Background: Variable, fixed and Total Costs

10. ​A business incurs the following costs per unit: Labor $5/unit; Materials $3/unit and rent $5000/month. If the firm produces 1000 units a month, the total variable costs equals

a. ​$5,000

b. ​$8,000

c. ​$13,000

d. ​$10,000

ANSWER: b

TOPICS: Section 1: Background: Variable, fixed and Total Costs

 

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