Profit Quiz 2 (25 MCQs)

Correct Answer: A) Perfectly elastic.

Correct Answer: D) Higher risk = higher return.

Correct Answer: A) Total Revenue.

Correct Answer: A) Yes, I understand this from the notes.

Correct Answer: C) $ 50.

Correct Answer: A) $ 100.

Correct Answer: A) Yes, I understand this from the notes.

Correct Answer: B) The level of technology available.

Correct Answer: C) $ 60.

Correct Answer: C) Cost of sales increase.

Correct Answer: B) AR = AC.

Correct Answer: A) Yes, I understand this from the notes.

Correct Answer: A) Total costs.

Correct Answer: B) Increasing returns to scale.

Correct Answer: C) Implicit Costs.

Correct Answer: B) Average fixed cost.

Correct Answer: D) Leads to a fall in total revenue.

Correct Answer: A) Yes, I understand this from the notes.

Correct Answer: A) Business objectives.

Correct Answer: C) The quantity effect outweighs the price effect.

Correct Answer: D) Variable costs.

Correct Answer: C) The relationship between inputs and outputs.

Correct Answer: C) Expenses.

Correct Answer: B) Total Revenue-(Explicit Costs + Implicit costs).

Correct Answer: C) The price effect.