Exam (elaborations)
ECON 201 WEEK 5 Quiz Questions with Correct Answers
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ECON 201 WEEK 5 Quiz Questions with Correct Answers Question 1 of 20 Average variable cost is: • A. the firm's variable cost per unit multiplied by the quantity. • B. total variable cost divided by quantity. • C. the difference between average total cost and total variable cost. • D. the difference between total cost and total variable cost. Question 2 of 20 Which of the following is (are) correct? • A. Firms are organizations that produce goods and services. • B. Firms seek to maximize profits. • C. Firms seek to utilize factors of production in the most efficient way in order to maximize profits. • D. All of the above are correct.
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Institution
ECON 201
Course
ECON 201
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Written for
- Institution
- ECON 201
- Course
- ECON 201
Document information
- Uploaded on
- December 27, 2023
- Number of pages
- 15
- Written in
- 2023/2024
- Type
- Exam (elaborations)
- Contains
- Questions & answers
Subjects
- econ 201
- econ 201 week 5 quiz
-
econ 201 week 5 quiz questions with correct answer
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