ECO 2023 MICROECONOMICS EXAM 2 PRACTICE QUESTIONS and ANSWERS Verified Rated A+

ECO 2023 MICROECONOMICS EXAM 2 PRACTICE QUESTIONS and ANSWERS Verified Rated A+. Specialization among workers occurs when a. quality management allows workers to switch from one task to another. b. each worker is allowed to perfect one particular task. c. each worker is responsible for a number of different tasks. d. All of the above are correct. ANSWER: b. each worker is allowed to perfect one particular task. 5. If a firm wants to capitalize on economies of scale, it may be able to do so by a. assigning limited tasks to their employees, so they can master those tasks. b. employing a smaller number of workers. c. producing a smaller quantity of output. d. All of the above are correct. ANSWER: a. assigning limited tasks to their employees, so they can master those tasks. 1 6. In reference to setting the production level, a firm’s cost curves a. by themselves do not tell us what decisions the firm will make. b. dictate what decisions the firm will make. c. have no bearing on what decisions the firm will make. d. None of the above are correct. ANSWER: a. by themselves do not tell us what decisions the firm will make.