Access over 20 million homework & study documents

search

2 What is the typical shape of a total product curveA An S shap

Content type
User Generated
Rating
Showing Page:
1/2
2. What is the typical shape of a total product curve?
A. An S-shape
B. A U-shape
C. An inverted U-shape
D. A constantly increasing line
E. A constantly decreasing line
3. The open access equilibrium for a common property
resource occurs at the point where...
A. Average revenue equals marginal cost
B. Total social benefits are maximized
C. Total private benefits are maximized
D. Marginal revenue equals marginal cost
E. Marginal revenue equals total costs
4. The economic optimum production level for a common
property resource occurs where ...
A. Total revenue equals total costs
B. Average revenue equals marginal cost
C. Average revenue equals average cost
D. Marginal revenue equals total costs
E. Marginal revenue equals marginal cost
5. The open access equilibrium is usually ...
A. Economically efficient but ecologically unsustainable
B. Economically efficient and ecologically sustainable
C. Economically inefficient but ecologically sustainable
D. Neither economically efficient nor ecologically
sustainable
E. Highly profitable for resource users
6. Which one of the following variables is most likely to
increase as production effort is increased?
A. Net revenue
B. Marginal costs
C. Marginal revenue
D. Total costs
E. Average revenue
7. Which one of the following variables is most likely to

Sign up to view the full document!

lock_open Sign Up
Showing Page:
2/2

Sign up to view the full document!

lock_open Sign Up
Unformatted Attachment Preview
2. What is the typical shape of a total product curve? A. An S-shape B. A U-shape C. An inverted U-shape D. A constantly increasing line E. A constantly decreasing line 3. The open access equilibrium for a common property resource occurs at the point where... A. Average revenue equals marginal cost B. Total social benefits are maximized C. Total private benefits are maximized D. Marginal revenue equals marginal cost E. Marginal revenue equals total costs 4. The economic optimum production level f or a common property resource occurs where ... A. Total revenue equals total costs B. Average reve ...
Purchase document to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Anonymous
Just what I needed. Studypool is a lifesaver!

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Similar Documents