【正文】 important to include all the opportunity costs of opportunity costs are explicit while other opportunity costs are implicit. [經(jīng)濟學(xué)原理 ...............鄧達 ] 55 Summary ? A firm’s costs reflect its production process. ? A typical firm’s production function gets flatter as the quantity of input increases, displaying the property of diminishing marginal product. ? A firm’s total costs are divided between fixed and variable costs. Fixed costs do not change when the firm alters the quantity of output produced。 variable costs do change as the firm alters quantity of output produced. [經(jīng)濟學(xué)原理 ...............鄧達 ] 56 Summary ? Average total cost is total cost divided by the quantity of output. ? Marginal cost is the amount by which total cost would rise if output were increased by one marginal cost always rises with the quantity of output. ? Average cost first falls as output increases and then rises. [經(jīng)濟學(xué)原理 ...............鄧達 ] 57 Summary ? The averagetotalcost curve is Ushaped. ? The marginalcost curve always crosses the averagetotalcost curve at the minimum of ATC. ? In particular, many costs are fixed in the short run but variable in the long run. [經(jīng)濟學(xué)原理 ...............鄧達 ] 58 Multiple Choice ? The amount of money that a firm receives from the sale of its output is called ? a. total gross profit. ? b. total profit. ? c. total revenue. ? d. revenue. ? ANSWER: c. [經(jīng)濟學(xué)原理 ...............鄧達 ] 59 Multiple Choice ? Which of the following would be categorized as an implicit cost? ? (i) wages of workers ? (ii) raw material costs ? (iii) fone investment opportunities ? a. (i) and (iii) ? b. (iii) only ? c. (ii) and (iii) ? d. All of the above are correct. ? ANSWER: d. [經(jīng)濟學(xué)原理 ...............鄧達 ] 60 Multiple Choice ? The amount of money that a wheat farmer could have earned if he had planted barley instead of wheat is ? a. an explicit cost. ? b. an accounting cost ? c. an implicit cost. ? d. fone accounting profit. ? ANSWER: c. [經(jīng)濟學(xué)原理 ...............鄧達 ] 61 Multiple Choice ? A production function is a relationship between ? a. inputs and quantity of output. ? b. inputs and revenue. ? c. inputs and costs. ? d. inputs and profit. ? ANSWER: a. [經(jīng)濟學(xué)原理 ...............鄧達 ] 62 Multiple Choice ? The cost of producing the typical unit of output is the firm’s ? a. average total cost. ? b. opportunity cost. ? c. variable cost. ? d. marginal cost. ? ANSWER: a. [經(jīng)濟學(xué)原理 ...............鄧達 ] 63 Multiple Choice ? Marginal cost equals ? a. total cost divided by quantity of output produced. ? b. total output divided by the change in total cost. ? c. the slope of the total cost curve. ? d. None of the above are correct. ? ANSWER: c [經(jīng)濟學(xué)原理 ...............鄧達 ] 64 Multiple Choice ? Diminishing marginal product suggests that ? a. additional units of output bee less costly as more output is produced. ? b. marginal cost is upward sloping. ? c. the firm is at full capacity. ? d. All of the above are correct. ? ANSWER: b [經(jīng)濟學(xué)原理 ...............鄧達 ] 65 Multiple Choice ? When marginal cost exceeds average total cost, ? a. average fixed cost must be rising. ? b. average total cost must be rising. ? c. average total cost must be falling. ? d. marginal cost must be falling. ? ANSWER: b [經(jīng)濟學(xué)原理 ...............鄧達 ] 66 Multiple Choice ? In the long run, ? a. inputs that were fixed in the short run remain fixed. ? b. inputs that were fixed in the short run bee variable. ? c. inputs that were variable in the short run bee fixed. ? d. variable inputs are rarely used. ? ANSWER: b [經(jīng)濟學(xué)原理 ...............鄧達 ] 67 Multiple Choice ? Economies of scale occur when ? a. longrun average total costs rise as output increases. ? b. longrun average total costs fall as output increases. ? c. average fixed costs are falling. ? d. average fixed costs are constant. ? ? ANSWER: b [經(jīng)濟學(xué)原理 ...............鄧達 ] 68 Multiple Choice ? . How long does it take a firm to go from the short run to the long run? ? a. six months ? b. one year ? c. two years ? d. It depends on the nature of the firm. ? ANSWER: d [經(jīng)濟學(xué)原理 ...............鄧達 ] 69 演講完畢，謝謝觀看！