We've found 5 Costs Of Production tests

Computer Based System Costs Of Production Goods And Services Likes And Dislikes Marketing Modern History Supply Chain Management
Chapter 10 MIS – Flashcards 85 terms
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Jason Westley
85 terms
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ABM 100 Final Exam – Flashcards 92 terms
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Jason Westley
92 terms
Costs Of Production Economics Goods And Services Price Elasticity Of Demand Quantity Demanded Equals Quantity Supplied
Econ 102 – Flashcard Test Questions 71 terms
Matthew Carle avatar
Matthew Carle
71 terms
Costs Of Production Goods And Services Unfair Business Practices
Consumer Education and Economics Chapter 5 – Flashcards 26 terms
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Kenneth Wheeler
26 terms
Across The Globe Behavioral Targeting Costs Of Production Electronic Data Interchange Management Information Systems Product Design
Info systems chp 10 – Flashcards 20 terms
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Aiden Simmons
20 terms
Which of the following factors is a demand shifter? Change in costs of production Change in price of the good Change in income Technological change which lowers the cost of production
Change in income
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Which of the following factors will NOT affect supply? a. A change in the costs of production. b. A change in consumer tastes and preferences. c. A change in taxes, subsidies or restrictions. d. A change in technology. e. None of the above will affect supply.
b. A change in consumer tastes and preferences.
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Entrepreneurs and other sellers —- when buyers purchase the product they sell at prices more than high enough to cover the costs of production.
What are the costs of production that are tied to and vary depending on the number of units produced?
Variable costs
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If the costs of production rise in the market for silverware, what happens in the supply and demand graph? Supply shifts left leading to an increase in price and a decrease in quantity. Supply shifts right leading to a decrease in price and an increase in quantity. Demand shifts right leading to an increase in both price and quantity. Demand shifts left leading to a decrease in price and quantity.
Supply shifts left leading to an increase in price and a decrease in quantity.
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A ________ externality results in overproduction of a product where all the costs of production are not borne by the producer.
One benefit of trade is that it: a) decreases economies of scale, making production more efficient. b) allows for increased specialization and mass-production techniques that lower per unit costs of production. c) increases the division of knowledge because trade makes people more self-sufficient, producing more of what they consume. d) lowers productivity, leading to greater domestic employment.
b) allows for increased specialization and mass-production techniques that lower per unit costs of production.
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10. If a firm enlarges its factory size and realizes lower average (per unit) costs of production, then:
it has experienced economies of scale.
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If marginal costs of production are greater than marginal benefits of production:
too much of the good is being produced.
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globalization has enabled organizations to reduce their costs of production by __
setting up manufacturing units in developing countries
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