E. Firms in difficulty will reduce the quality of their production in order to reduce production costs [] G raphic 1 demonstrates a short-term production function of a fictitious enterprise. You must use it to answer questions 19, 20: 19. According to Figure 1, the points located A. above the curve are achievable but inefficient B. below the curve are achievable but ineffective. [ ] C. below the curve are unachievable and inefficient. [ ] D. on the curve are unachievable and effective. [ ] E. on the curve all have equal marginal productivity. [ ] 20. According to Figure 1, at what point does marginal productivity become negative? A. the 6e B. the 24e [1 C. the 7e D. le 30e 1 E. the 17E [1] 21. The assumption that your fourth slice of pizza doesn't generate as much satisfaction (utility) as your third slice is an example A. of the law of diminishing marginal utility. [] B. of the law of demand. [ ] 22. An indifference curve is A. the separation between what can be produced and what cannot be produced [1] B. the set of all combinations of goods that provide the nccsummator with the same level of satisfaction [B ] C. the boundary between normal and inferior goods D. a curve with a positive slope E. the demarcation between goods that a consumer can afford to buy and those that are not affordable L 24. Ferdinand has an income of $60 to buy movie tickets and bus tickets. The price of a movie ticket is $12 and the price of a bus ticket is $4. What is the relative price of a bus ticket in terms of movie tickets? A. 1/3 movie ticket 1 B. 3 cinema tickets[] C. 4$[1 D. 3$ E. 5 movie tickets[] 25. In the long term, which of the following costs is not variable? A. Electricity [] B. Rents of buildings [ 1 C. Raw materials[ ] D. The costs of maintaining the capital stock in place[ ] E. Firms in difficulty will reduce the quality of their production in order to reduce production costs [] G raphic 1 demonstrates a short-term production function of a fictitious enterprise. You must use it to answer questions 19, 20: 19. According to Figure 1, the points located A. above the curve are achievable but inefficient B. below the curve are achievable but ineffective. [ ] C. below the curve are unachievable and inefficient. [ ] D. on the curve are unachievable and effective. [ ] E. on the curve all have equal marginal productivity. [ ] 20. According to Figure 1, at what point does marginal productivity become negative? A. the 6e B. the 24e [1 C. the 7e D. le 30e 1 E. the 17E [1] 21. The assumption that your fourth slice of pizza doesn't generate as much satisfaction (utility) as your third slice is an example A. of the law of diminishing marginal utility. [] B. of the law of demand. [ ] 22. An indifference curve is A. the separation between what can be produced and what cannot be produced [1] B. the set of all combinations of goods that provide the nccsummator with the same level of satisfaction [B ] C. the boundary between normal and inferior goods D. a curve with a positive slope E. the demarcation between goods that a consumer can afford to buy and those that are not affordable L 24. Ferdinand has an income of $60 to buy movie tickets and bus tickets. The price of a movie ticket is $12 and the price of a bus ticket is $4. What is the relative price of a bus ticket in terms of movie tickets? A. 1/3 movie ticket 1 B. 3 cinema tickets[] C. 4$[1 D. 3$ E. 5 movie tickets[] 25. In the long term, which of the following costs is not variable? A. Electricity [] B. Rents of buildings [ 1 C. Raw materials[ ] D. The costs of maintaining the capital stock in place[ ]
