Globale Microeconomics

Business

Quiz 6 :

Firms and Production

Quiz 6 :

Firms and Production

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Which of the following is least likely to be considered a capital input?
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D

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Technological efficiency is
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C

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What is one of the biggest differences between a sole proprietorship and a corporation?
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B

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The nonprofit or not-for-profit sector consists of organizations that
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A production function tells the firm
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Only corporations benefit from limited liability.
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An organization that converts inputs (like Labor, Capital etc.)into output can be a
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In China, firms owned by the government are known as
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What do we mean by efficient production?
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With respect to production, the short run is best defined as a time period
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Economists typically assume that the owners of firms wish to
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Efficient production occurs if a firm
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Firms maximize profit when
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Production functions only apply to advanced economies.
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Limited liability is a benefit to
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In the long run, all factors of production are
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Since 1999, the number of small state-owned enterprises (SOEs)in China has
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Which of the following statements best describes a production function?
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Which entity produces the greatest proportion of U.S. gross national product?
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Which of the following inputs is easier to increase in the short run?
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