Answer saved What is the average variable cost? Marked out of 2 P Flag question Select one: O a. AVC = 15y - 24y + 110 Ob. None of the above Oc AVC-5y²- 12y? + 110y O d. AVC - 5y- 12y + 110 Clear my choice Question 18 If pMP,> w, and you want to increase profits, should you increase, decrease or maintain the level of factor 17 Answer saved Marked out of 1 Select one: P Flag question O a. Increase O b. Decrease Oc. Maintain Question 19 What is the price elasticity of demand given P= 12 and Q = 1300 – P2. Answer saved Marked out of 2 Select one: P Flag question O a. 0.104 O b. -1.7 O c. -0.21 O d. -0.104 Question 20 If David John's preferences are represented by the utility function U(I1, I2) = 2;Iz, how does the consumer order the bundles A = (2,3), B= (1,5),C (4,2)? Answer saved Marked out of 3 P Rag question O a U(B) > U(A)> U(C) Ob. None of the above Oc U(B) > (U(A) > (U(C) O d. U(C) > U(A) > U(B) Clear mu chnice A-(2,3) 8 » ( 1, 5) , C (4,2) U (A) » 2×3 = 6 U (8) - ( 1Y5. 5
Answer saved What is the average variable cost? Marked out of 2 P Flag question Select one: O a. AVC = 15y - 24y + 110 Ob. None of the above Oc AVC-5y²- 12y? + 110y O d. AVC - 5y- 12y + 110 Clear my choice Question 18 If pMP,> w, and you want to increase profits, should you increase, decrease or maintain the level of factor 17 Answer saved Marked out of 1 Select one: P Flag question O a. Increase O b. Decrease Oc. Maintain Question 19 What is the price elasticity of demand given P= 12 and Q = 1300 – P2. Answer saved Marked out of 2 Select one: P Flag question O a. 0.104 O b. -1.7 O c. -0.21 O d. -0.104 Question 20 If David John's preferences are represented by the utility function U(I1, I2) = 2;Iz, how does the consumer order the bundles A = (2,3), B= (1,5),C (4,2)? Answer saved Marked out of 3 P Rag question O a U(B) > U(A)> U(C) Ob. None of the above Oc U(B) > (U(A) > (U(C) O d. U(C) > U(A) > U(B) Clear mu chnice A-(2,3) 8 » ( 1, 5) , C (4,2) U (A) » 2×3 = 6 U (8) - ( 1Y5. 5
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Answer 17, 18, 19
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