ECON 101 Week 5 Quiz Winter 2024 Already passed;AMU
Question 1 10 / 10 points
Average variable cost is:
the firm's variable cost per unit multiplied by the quantity. total variable cost divided by quantity.
the difference between average total cost and total variable cost. the diff...
ECON 101 Week 5 Quiz Winter 2024 Already passed;AMU
Week 5 Quiz (Chapter 8) - Results
Attempt 1 of 1
Written Mar 26, 2024 1:54 PM - Mar 26, 2024 2:08 PM
Attempt Score - 100 %
Overall Grade (Highest Attempt) - 100 %
Question 1 points
Average variable cost is: the firm's variable cost per unit multiplied by the quantity. total variable cost divided by quantity. the difference between average total cost and total variable cost. the difference between total cost and total variable cost.
Question 2 points
Which of the following is (are) correct? Firms are organizations that produce goods and services. Firms seek to maximize profits.
Firms seek to utilize factors of production in the most efficient way in
order to maximize profits. All of the above are correct.
Question 3 points
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