# ____ 51. In Exhibit 6-7, by filling in the blanks it can be determined that the fixed costs are a…

____ 51. In Exhibit 6-7, by

filling in the blanks it can be determined that the fixed costs are

a. 3,000.

b. 200.

c. 900.

d. 0.

e. 1,000.

____ 52. In Exhibit 6-7, by

filling in the blanks it can be determined that the marginal cost of the first

unit of output is:

a. 700.

b. 1,000.

c. 200.

d. 900.

e. 3,000.

____ 53. In Exhibit 6-7, by

filling in the blanks it can be determined that the total cost of the second

unit of output is:

a. 0.

b. 1,800.

c. 1,000.

d. 700.

e. 1,200.

____ 54. In Exhibit 6-7, by

filling in the blanks, it can be determined that the marginal cost of the third

unit of output

is:

a. 700.

b. 200.

c. 2,000.

d. 1,200.

e. 0.

Exhibit 6-8 Costs schedules

for producing pizza

Pizzas

Fixed

Cost

Variable

Cost

Total

Cost

Marginal

Cost

0 $ $ $ $

1 5

2 13

3 10

4 100 140

5 20

6 85

7 215

____ 55. By filling in the

blanks in Exhibit 6-8, the total cost of producing zero pizzas is shown to be

equal to:

a. $5.

b. $95.

c. $100.

d. zero.

e. $105.

____ 56. By filling in the

blanks in Exhibit 6-8, the total cost of producing 3 pizzas is shown to be

equal to:

a. $23.

b. $100.

c. $113.

d. $105.

e. $123.

____ 57. By filling in the

blanks in Exhibit 6-8, the total cost of producing 5 pizzas is shown to be

equal to:

a. $113.

b. $100.

c. $160.

d. $105.

e. $123.

____ 58. By filling in the

blanks in Exhibit 6-8, the variable cost of producing 4 pizzas is shown to be

equal to:

a. $185.

b. $60.

c. $40.

d. $100.

e. $85.

____ 59. By filling in the

blanks in Exhibit 6-8, the fixed cost of producing 6 pizzas is shown to be

equal to:

a. $200.

b. $150.

c. $185.

d. $100.

e. $85.

____ 60. By filling in the

blanks in Exhibit 6-8, the average variable cost of producing 4 pizzas is shown

to be equal to:

a. $10.

b. $40.

c. $85.

d. $15.

e. $20.

____ 61. By filling in the

blanks in Exhibit 6-8, the average total cost of producing 5 pizzas is shown to

be equal to:

a. $160.

b. $12.

c. $32.

d. $15.

e. $85.

____ 62. By filling in the

blanks in Exhibit 6-8, the marginal cost of the fourth pizza is shown to be

equal to:

a. $10.

b. $17.

c. $23.

d. $40.

e. $15.

____ 63. By filling in the

blanks in Exhibit 6-8, the marginal cost of the sixth pizza is shown to be

equal to:

a. $15.

b. $25.

c. $10.

d. $20.

e. $85.

Exhibit 6-9 Cost schedule

for firm X

Output

Quantity

Total Fixed

Cost

Total Variable

Cost

0 $100 $ 0

1 100 50

2 100 84

3 100 108

4 100 127

5 100 150

____ 64. As shown in

Exhibit 6-9, the total cost of producing 4 units is:

a. $250.

b. $100.

c. $227.

d. zero.

____ 65. As shown in

Exhibit 6-9, the total cost of producing 5 units is:

a. $227.

b. $100.

c. $250.

d. zero.

____ 66. As shown in

Exhibit 6-9, the marginal cost of producing the third unit is:

a. $50.

b. $16.

c. $23.

d. $24.

Exhibit 6-12 Cost schedule

for producing pizza

Pizzas

Fixed

Cost

Variable

Cost

Total

Cost

0 $ $ $

1 48

2 17

3 27

4 78

5 40

6 64

7 80

____ 67. By filling in the

blanks in Exhibit 6-12, the AFC of 4 pizzas is shown to be equal to:

a. $10.

b. $9.50.

c. $78.

d. $19.50.

e. $40.

____ 68. By filling in the

blanks in Exhibit 6-12, the AFC of 3 pizzas is shown to be equal to:

a. $13.33.

b. $9.

c. $10.

d. $40.

e. $22.33.

____ 69. By filling in the

blanks in Exhibit 6-12, the AVC of 4 pizzas is shown to be equal to:

a. $19.50.

b. $40.

c. $10.

d. $78.

e. $9.50.

____ 70. By filling in the

blanks in Exhibit 6-12, the AVC of 3 pizzas is shown to be equal to:

a. $40.

b. $13.33.

c. $9.

d. $10.

e. $22.33.

____ 71. By filling in the

blanks in Exhibit 6-12, the ATC of 3 pizzas is shown to be equal to:

a. $40.

b. $10.

c. $13.33.

d. $22.33.

e. $9.

____ 72. By filling in the

blanks in Exhibit 6-12, the ATC of 4 pizzas is shown to be equal to:

a. $9.50.

b. $10.

c. $78.

d. $40.

e. $19.50.

____ 73. By filling in the

blanks in Exhibit 6-12, the marginal cost of the fourth pizza is shown to be

equal to:

a. $11.

b. $12.

c. $10.

d. $13.

e. $14.

____ 74. By filling in the

blanks in Exhibit 6-12, the marginal cost of the third pizza is shown to be

equal to:

a. $12.

b. $11.

c. $13.

d. $10.

e. $14.

____ 75. Market structure

is defined as the:

a. number of firms in each

industry.

b. ease of entry into and

exit from the market.

c. similarity of the

product sold.

d. all of the above.

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