BMZ ACADEMY
BMZ ACADEMY
@061 262 1185/068 053 8213
BMZ ACADEMY 061 262 1185/068 053 8213
,9/14/24, 10:45 AM Assessment 3 (page 1 of 15)
UNISA 2024 ECS2601-24-S2 Welcome Message Assessment 3
QUIZ
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Question 1
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Consider the following demand and supply functions:
Demand: Qd = 440 - 40P, Supply: Qs = -120 + 40P. What is the equilibrium price and output?
a. P = R3.33 and Q = 500.
b. P = R7 and Q = 160.
c. P = R4 and Q = 280.
d. P = R3 and Q = 560.
Clear my choice
Question 2
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The market supply curve is the vertical summation of all the individual supply curves.
Select one:
True
False
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,9/14/24, 10:45 AM Assessment 3 (page 2 of 15)
UNISA 2024 ECS2601-24-S2 Welcome Message Assessment 3
QUIZ
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Question 3
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In a certain textile firm, labour is the only short-term variable input. The manager notices
that the marginal product of labour is the same for each unit of labour, which implies that
…
a. the average product of labour is always greater that the marginal product of labour.
b. as more labour is used, the average product of labour decreases.
c. the average product of labour is always less than the marginal product of labour.
d. the average product of labour is always equal to the marginal product of labour.
Clear my choice
Question 4
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Average total cost reaches a minimum where it intersects average variable cost.
Select one:
True
False
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, 9/14/24, 10:45 AM Assessment 3 (page 3 of 15)
UNISA 2024 ECS2601-24-S2 Welcome Message Assessment 3
QUIZ
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Question 5
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When output equals zero, total cost equals fixed cost.
Select one:
True
False
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BMZ ACADEMY
@061 262 1185/068 053 8213
BMZ ACADEMY 061 262 1185/068 053 8213
,9/14/24, 10:45 AM Assessment 3 (page 1 of 15)
UNISA 2024 ECS2601-24-S2 Welcome Message Assessment 3
QUIZ
Time left 0:43:30
Question 1
Answer saved
Marked out of 1.00
Consider the following demand and supply functions:
Demand: Qd = 440 - 40P, Supply: Qs = -120 + 40P. What is the equilibrium price and output?
a. P = R3.33 and Q = 500.
b. P = R7 and Q = 160.
c. P = R4 and Q = 280.
d. P = R3 and Q = 560.
Clear my choice
Question 2
Answer saved
Marked out of 1.00
The market supply curve is the vertical summation of all the individual supply curves.
Select one:
True
False
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=22221190&cmid=990759 1/1
,9/14/24, 10:45 AM Assessment 3 (page 2 of 15)
UNISA 2024 ECS2601-24-S2 Welcome Message Assessment 3
QUIZ
Time left 0:43:37
Question 3
Answer saved
Marked out of 1.00
In a certain textile firm, labour is the only short-term variable input. The manager notices
that the marginal product of labour is the same for each unit of labour, which implies that
…
a. the average product of labour is always greater that the marginal product of labour.
b. as more labour is used, the average product of labour decreases.
c. the average product of labour is always less than the marginal product of labour.
d. the average product of labour is always equal to the marginal product of labour.
Clear my choice
Question 4
Answer saved
Marked out of 1.00
Average total cost reaches a minimum where it intersects average variable cost.
Select one:
True
False
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=22221190&cmid=990759&page=1 1/1
, 9/14/24, 10:45 AM Assessment 3 (page 3 of 15)
UNISA 2024 ECS2601-24-S2 Welcome Message Assessment 3
QUIZ
Time left 0:43:43
Question 5
Answer saved
Marked out of 1.00
When output equals zero, total cost equals fixed cost.
Select one:
True
False
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=22221190&cmid=990759&page=2 1/2
