1. When a producer makes more goods at every possible price
a. The government has interfered.
b. There has been a change in fixed costs
c. The supply curve has shifted to the left
d. The supply curve has shifted to the right
2. The theory of production deals with the relationship between the factors of production and
a. Variable costs
b. The amount of overhead that is expected in production
c. The output of goods and services
d. The amount of taxes levied on goods
3. Property taxes and rent payments would be classified as which types of costs?
a. Fixed costs
b. Marginal costs
c. Variable costs
d. Total costs
4. One advantage of e-commerce is that
a. e-commerce does not have any foreign competition
b. Many times the overhead costs are relatively low
c. The government does not pass taxes on e-businesses
d. The government does not regulate it
5. Maximum profits are made when marginal revenue
a. Is equal to marginal cost.
b. is more than half of marginal cost
c. Is less than marginal cost.
d. Is more than marginal cost