W Student Home - GoW X W Quizzes - ECON-2010 X W 11.2.A Week 15 Invent X W WMU Elearning X W 11.1.B Remixed Positic X W 11.1.A Remixed Positi X| search.yahoo.com X + V X C a elearning.wmich.edu/d21/Ims/quizzing/user/attempt/quiz_start_frame_auto.d2|?ou=492954&isprv=&drc=0&qi=441243&cfql=0&dnb=0&fromQB=0 Final Exam X Time Limit: 1:30:00 Time Left:0:36:20 Angie Gomez Padilla: Attempt 1 Page 1: Oo 2 C a elearning.wmich.edu/d21/Ims/quizzing/user/attempt/quiz_start_frame_auto.d2|?ou=492954&isprv=&drc=0&qi=441243&cfql=0&dnb=0&fromQB=0 Final Exam X Time Limit: 1:30:00 Time Left:0:35:34 Angie Gomez Padilla: Attempt 1 Page 1: 2 Question 12 (1 point) Which of the following is a fixed cost for a cement factory? 6 ORaw materials 10 11 12 O Labor 13 14 15 Factory building 16 17 18 Question 13 (1 point) Suppose the variable cost to make one bag of coffee is $3.00. The total fixed cost 19 20 21 per day is $300. What is the total cost of producing 100 bags of coffee per day? $600 47.F O W 6:50 PM ENG Partly cloudy 4/23/2022 2W Student Home - GoW X W Quizzes - ECON-2010 X W 11.2.A Week 15 Invent X W WMU Elearning X W 11.1.B Remixed Positic X W 11.1.A Remixed Positi X| search.yahoo.com X + V X C a elearning.wmich.edu/d21/Ims/quizzing/user/attempt/quiz_start_frame_auto.d2|?ou=492954&isprv=&drc=0&qi=441243&cfql=0&dnb=0&fromQB=0 Final Exam X Time Limit: 1:30:00 Time Left:0:35:21 Angie Gomez Padilla: Attempt 1 Page 1: Question 13 (1 point) 2 Suppose the variable cost to make one bag of coffee is $3.00. The total fixed cost C a elearning.wmich.edu/d21/Ims/quizzing/user/attempt/quiz_start_frame_auto.d2|?ou=492954&isprv=&drc=0&qi=441243&cfql=0&dnb=0&fromQB=0 Final Exam X Time Limit: 1:30:00 Time Left:0:35:09 Angie Gomez Padilla: Attempt 1 Page 1: Question 14 (1 point) 2 C a elearning.wmich.edu/d21/Ims/quizzing/user/attempt/quiz_start_frame_auto.d2|?ou=492954&isprv=&drc=0&qi=441243&cfql=0&dnb=0&fromQB=0 Final Exam X Time Limit: 1:30:00 Time Left:0:34:49 Angie Gomez Padilla: Attempt 1 Page 1: Question 15 (1 point) 2 As output increases in the short run, the total cost rises due to increase in both total C a elearning.wmich.edu/d21/Ims/quizzing/user/attempt/quiz_start_frame_auto.d2|?ou=492954&isprv=&drc=0&qi=441243&cfql=0&dnb=0&fromQB=0 Final Exam X Time Limit: 1:30:00 Time Left:0:34:34 Angie Gomez Padilla: Attempt 1 Page 1: Question 17 (1 point) 2 C a elearning.wmich.edu/d21/Ims/quizzing/user/attempt/quiz_start_frame_auto.d2|?ou=492954&isprv=&drc=0&qi=441243&cfql=0&dnb=0&fromQB=0 Final Exam X Time Limit: 1:30:00 Time Left:0:34:13 Angie Gomez Padilla: Attempt 1 .False 13 14 15 Question 19 (1 point) 16 17 18 Monopoly and monopolistic competition represent same market structure. 19 20 21 True False 22 23 24 Question 20 (1 point) Saved 25 26 27 If marginal revenue product (MRP) is greater than the wage (W) i.e. MRP>W then firm should hire more workers to increase profit. 28 29 30 True . False 31 32 Question 21 (1 point) Saved The difference between the lowest price a firm would have been willing to accept and the price it actually receives from the sale of a product is called 47.F O 6:52 PM Partly cloudy ENG 4/23/2022 2