Problems-
1. Assuming fixed quantities of other inputs, the total product curve relates:
A) output to variable cost.
B) fixed cost to variable cost.
C) output to a variable input.
D) output to total cost.
2. Economist Gordon Tullock suggests that monopolists may use up their ______________ to engage in rent-seeking behavior.
A) economic profits
B) marginal costs
C) deadweight loss
D) marginal revenue
Additional Information-
These multiple choice problems belong to Economics. The first problem is about total product curve and the second problem is about Gordon Tullock's views on monopolists.