Q1. Consider a Round Table Pizza looking to make decisions in the short run. Which of the following are examples of variable inputs? Select all that apply.

A. Online ordering system.

B. Supply of paper plates.

C. Ovens in the kitchen.

D. Workers hired.

Q2. The average total cost curve is always below the marginal cost curve.

A. True.

B. False.

Q3. Your uncle is considering opening an ice cream shop. By his estimation, it would cost $250,000 per year for rent and other expenses.He would also need to quit his current job, which pays $60,000 per year.What is your uncle's opportunity cost of running an ice cream shop?

A. $310,000.

B. $60,000.

C. $250,000.

D. $190,000.

Q4. The county government is considering the following tax proposal: A lump-sum tax of $500 on each fast food restaurant. Which of the following statements is true regarding the tax?

A. Average fixed cost will be increasing with production.

B. None of the answers.

C. Marginal cost will be unchanged.

D. Average variable cost will increase.