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MCQs Answers
10/23/23
MCQS ANSWERS
1. A FIRM’S WORKERS PARTICIPATE IN A TRAINING PROGRAM DESIGNED
TO INCREASE THE NUMBER OF SURFBOARDS THEY CAN PRODUCE PER
DAY.
2. LONG ENOUGH FOR A FIRM TO VARY ALL INPUTS, ADOPT NEW
TECHNOLOGY, AND CHANGE THE SIZE OF ITS PHYSICAL PLANT.
3. AT SOME POINT, ADDING MORE OF A VARIABLE INPUT TO A GIVEN
AMOUNT OF A FIXED INPUT WILL CAUSE THE MARGINAL PRODUCT OF
THE VARIABLE INPUT TO DECLINE.
4. WILL INCREASE.
5. HER IMPLICIT COST FALLS AND HER EXPLICIT COST RISES.
6. FIXED COST.
7. MARGINAL COST MUST BE AT ITS MINIMUM.
8. THE AVERAGE …
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