Hello, I have difficulty with the following exercise I dont understand, thank you for your help:

72.Which of the following statements is true?

Select one:

a.Diminishing marginal product is a short run concept.

b.Diseconomies of scale is a short run concept.

c.Diminishing marginal product results when the firm doubles in size without doubling output.

d.Diseconomies of scale result when only one input increases and output fails to keep up.

73. An example of an implicit cost of production would be

Select one:

a.the income an entrepreneur could have earned working for someone else.

b.the cost of raw materials for producing bread in a bakery.

c.the cost of a delivery truck in a business that rarely makes deliveries.

d.All of the above are correct.

76. Average total cost tells us the

Select one:

a.cost of the last unit of output, if total cost does not include a fixed cost component.

b.total cost of the first unit of output, if total cost is divided evenly over all the units produced.

c.cost of a typical unit of output, if total cost is divided evenly over all the units produced.

d.variable cost of a firm that is producing at least one unit of output.

79. Economic profit is equal to

Select one:

a.average revenue minus the average cost of producing the last unit of a good or service.

b.total revenue minus the explicit cost of producing goods and services.

c.total revenue minus the accounting cost of producing goods and services.

d.total revenue minus the opportunity cost of producing goods and services.

80. In the long run,

Select one:

a.inputs that were fixed in the short run become variable.

b.inputs that were fixed in the short run remain fixed.

c.variable inputs are rarely used.

d.inputs that were variable in the short run become fixed.

82. Marginal cost increases as the quantity of output increases. This reflects the property of

Select one:

a.increasing marginal product.

b.diminishing total cost.

c.increasing total cost.

d.diminishing marginal product.

85. Marginal cost tells us the

Select one:

a.value of all resources used in a production process.

b.amount by which output rises when labour is increased by one unit.

c.amount by which total cost rises when output is increased by one unit.

d.marginal increment to profitability when price is constant.

88. Which of the following costs is variable in the long run?

Select one:

a.wages paid to labour.

b.payments to suppliers to buy new capital equipment.

c.interests on business loans to buy capital equipment.

d.all of the above.

86. Explicit costs

Select one:

a.Require an outlay of money by the firm.

b.All of the above are correct.

c.Include all of the opportunity costs.

d.Include income that is forgone by the owners.

89. One assumption that distinguishes short-run cost analysis from long-run cost analysis for a profit-maximizing firm is that in the short run,

Select one:

a.the number of workers used to produce the firm's product is fixed.

b.output is not variable.

c.there are no fixed costs.

d.the size of the factory is fixed.

92. The efficient scale of the firm is the quantity of output that

Select one:

a.minimizes average total cost.

b.maximizes profit.

c.maximizes marginal product.

d.minimizes marginal cost.