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ECON 528 Final Exam With Questions And Answers. University of Louisiana, Lafayette $15.49   Add to cart
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ECON 528 Final Exam With Questions And Answers. University of Louisiana, Lafayette
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  • Course
  • ECON 528
  • Institution
  • University Of Louisiana, Lafayette

ECON 528 Final Exam With Questions And Answers. University of Louisiana, Lafayette. Question 1 Incorrect Mark 0.00 out of 1.00 Question 2 Incorrect Mark 0.00 out of 1.00 Started on Monday, 8 October 2018, 10:05 PM State Finished Completed on Monday, 8 October 2018, 10:51 PM Time taken 45...

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Document information

  • March 8, 2022
  • 15
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

Subjects

  • econ 528 final exam
  • lafayette
  • econ 528
  • econ 528 final exam with questions and answers university of louisiana
  • econ 528 final exam with questions and answers
  • the law of diminishing marginal returns s

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  • University Of Louisiana, Lafayette
  • ECON 528
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ECON528-850-ECON528-010-
201920
Started on Monday, 8 October 2018, 10:05 PM
State Finished
Completed on Monday, 8 October 2018, 10:51 PM
Time taken 45 mins 58 secs
Marks 15.00/20.00
Grade 7.50 out of 10.00 (75%)


Question 1
The law of diminishing marginal returns
Incorrect states that increases in the variable input
Mark 0.00 out of reduce the total product.
1.00



Select one:
True

False



The correct answer is 'False'.



Question 2 We should use relatively more labor if we
Incorrect learn that the marginal product per dollar of
labor expenditures is less than a marginal
Mark 0.00 out of
product per dollar of capital expenditures.
1.00

Select one:
True
False



The correct answer is 'False'.

, Question 3 If a firm has increasing returns to scale,
Correct then increasing all inputs by 1% will
increase output by more than 1%.
Mark 1.00 out of
1.00
Select one:
True

False



The correct answer is 'True'.



Question 4 If production displays economies of scale,
Correct the long-run average cost curve is

Mark 1.00 out of
Select one or more:
1.00
a. downward-sloping.

b. below the long-run marginal cost curve.

c. upward sloping.

d. above the short-run average total cost
curve.



Your answer is correct.
The correct answer is: downward-sloping.

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