Chapter 10選擇題精華

Microeconomics, Global Edition (Parkin)
Chapter 10 Organizing Production
1 The Firm and Its Economic Problem
1) The most important goal of the firm is to

A) maximize its revenues.
B) maximize its sales volume.
C) maximize its profits.
D) minimize its costs.
Answer: C
Topic: The Firm's Goal
Skill: Conceptual
AACSB: Reflective thinking
2) A firm's basic goal is best described as

A) maximizing total revenue.
B) maximizing sales.
C) maximizing profit.
D) minimizing total cost.
Answer: C
Skill: Conceptual
3) Profit maximization
A) makes a firm become as large as possible.
B) makes a firm remain small in the long run.
C) increases the likelihood that a firm will survive.
D) leads a firm to become the target of a takeover.
Answer: C
Skill: Conceptual
4) Firms that survive in the long run are usually those that
A) become as large as possible.
B) remain small.
C) use more capital rather than more labor.
D) earn the largest possible profit.
Answer: D
Skill: Conceptual
1
5) Firms use incentives to pursue their most fundamental goal, which is to maximize
A) profits.
B) sales revenue.
C) worker satisfaction.
D) worker pay.
Answer: A
Skill: Conceptual
6) A firm's opportunity costs ________.

A) equal the costs of resources it buys from others in the market
B) include the cost of using resources owned by the firm
C) increase when economies of scope exist
D) do not include any opportunity costs for resources the owner suppliers
Answer: B
Topic: Opportunity Cost
Skill: Conceptual
7) Which of the following costs are part of a firm's opportunity costs?

I. costs for resources bought in markets
II. costs for resources the firm owns
III. costs for resources supplied by the owner
A) I and II
B) I and III
C) I only
D) I, II, and III
Answer: D
Skill: Conceptual
8) If instead of working on his own as a consultant making $25,000, Joe takes a job at a bank, the
$25,000 is
A) an opportunity cost.
B) a depreciation.
C) a loss.
D) an accounting profit.
Answer: A
Skill: Conceptual
2
9) An electrician quits her current job, which pays $40,000 per year. She can take a job with
another firm for $45,000 per year or work for herself. The opportunity cost of working for
herself is
A) $5,000.
B) $40,000.
C) $45,000.
D) $85,000.
Answer: C
Skill: Analytical
10) Which of the following is part of a firm's opportunity costs?

I. wages
II. utility costs
III. interest on a bank loan
IV. interest forgone on funds used to buy capital equipment
A) I and II
B) III and IV
C) I, II and III
D) I, II, III and IV
Answer: D
Skill: Conceptual
11) The implicit rental rate for capital is

A) an accounting cost.
B) part of the firm's normal profit.
C) an opportunity cost.
D) a cost that is irrelevant to the business.
Answer: C
Topic: Implicit Rental Rate
Skill: Conceptual
12) The implicit rental rate for capital includes the

A) total value of a piece of capital equipment.
B) interest income forgone by purchasing the piece of capital equipment.
C) firm's normal profit.
D) amount paid for the use of a piece of capital equipment owned by someone else.
Answer: B
Skill: Conceptual
3
13) Which of the following are two components of the opportunity cost of using capital already
owned by the firm?
A) economic profit and normal profit
B) implicit rental rate and economic profit
C) explicit rental rate and economic costs
D) economic depreciation and forgone interest
Answer: D
Skill: Conceptual
14) Wanda takes $3,000 from her savings account that pays 5 percent interest per year and uses
the funds to purchase a computer for $3,000 for her business. At the end of the year the computer
is worth $2,000. Wanda pays an implicit rental rate of ________ a year.
A) $1,150
B) $4,000
C) $3,150
D) zero
Answer: A
Skill: Analytical
AACSB: Analytical thinking
15) Over a given period, economic depreciation is the change in capital equipment's
A) output.
B) market value.
C) rate of return.
D) cost of maintenance.
Answer: B
Topic: Economic Depreciation
Skill: Conceptual
16) Economic depreciation is the

A) firm's opportunity cost of using its own capital.
B) change in the market value of capital over a given period.
C) return that an entrepreneur can expect to receive on average.
D) forgone return on the funds used to buy capital.
Answer: B
Skill: Conceptual
4
17) The difference between the market price of a new car used by a firm and the market price of
the same car one year later is known as
A) economic depreciation.
B) physical depreciation.
C) economic deterioration.
D) physical deterioration.
Answer: A
Skill: Conceptual
18) ________ is the change in market value of capital over a given period.
A) Accounting depreciation
B) Implicit rental rate
C) Economic depreciation
D) Accounting implicit rental cost
Answer: C
Skill: Conceptual
19) Costs as measured by accountants generally does not include

A) any of the opportunity costs of the firm.
B) any measure of depreciation.
C) the economic depreciation of the firm's equipment.
D) any rental rates.
Answer: C
Skill: Conceptual
20) Tudor's Deli and Catering could have sold their delivery van on December 31, 2010 for
$16,000. If they could sell the same van on December 31, 2011, for $13,000, then the economic
depreciation in 2011 for this van
A) is $13,000.
B) is $16,000.
C) is $29,000.
D) is $3,000.
Answer: D
Skill: Analytical
5
2 Technological and Economic Efficiency
1) Technological efficiency occurs when the firm produces a given output

A) by using the least amount of inputs.
B) by using the maximum amount of inputs.
C) at the least cost.
D) at the greatest cost.
Answer: A
Topic: Technological Efficiency
Skill: Conceptual
2) Technological efficiency necessarily means producing

A) at minimum cost.
B) with the highest level technology available.
C) without using more inputs than necessary.
D) technology itself.
Answer: C
Skill: Conceptual
3) A firm has achieved technological efficiency whenever it has

A) fully depreciated all its assets.
B) produced the given output using the fewest inputs.
C) produced the given output at the lowest cost.
D) all of the above.
Answer: B
Skill: Conceptual
4) Emma owns a firm that produces umbrellas. Currently, Emma produces 2,500 umbrellas a day.
Emma cannot produce more umbrellas in a day unless she purchases another machine or else
hires more workers. Emma is ________ efficient.
A) cost
B) technologically
C) economically
D) capital and labor
Answer: B
Skill: Conceptual
6
5) Which of the following is TRUE?
A) Technological efficiency occurs if the maximum feasible amount of output is achieved from a
given quantity of inputs.
B) Technological efficiency depends on the relative cost of the resources used in production.
C) If production is technologically efficient, then it must be economically efficient.
D) All of the above answers are correct.
Answer: A
Skill: Conceptual
6) Which of the following is a CORRECT statement?

A) Economic efficiency definitely occurs when a firm cannot increase production without using
more resources.
B) Technological efficiency depends on the costs of resources while economic efficiency
depends on only production methods.
C) Technological efficiency depends only on production methods, while economic efficiency
depends on the costs of resources.
D) all of the above
Answer: C
Skill: Conceptual
7) A company does not need to know the price of each resource it employs if it wants to
determine whether or not it is achieving
A) technological efficiency.
B) economic efficiency.
C) accounting efficiency.
D) managerial efficiency.
Answer: A
Skill: Conceptual
8) A firm uses labor and capital. To tell if the firm is technologically efficient, you
A) do not need to know the cost of labor or the cost of capital.
B) need to know the cost of capital but not the cost of labor.
C) need to know the cost of labor and the cost of capital.
D) need to know the cost of labor but not the cost of capital.
Answer: A
Skill: Conceptual
7
9) Firm A can produce a unit of output with 10 hours of labor and 5 units of material. Firm B can
produce a unit of output with 5 hours of labor and 10 units of material. Firm C can produce a unit
of output with 10 hours of labor and 10 units of material. If the prices of labor and material are
$10 per hour and $5 per unit, respectively, which of these firms is the most technologically
efficient?
A) firm A only
B) firm B only
C) firm C only
D) Firms A and B could both be technologically efficient.
Answer: D
Skill: Analytical
10) The accountant for Muzhi's Sushi claims that Muzhi has accomplished "technological
efficiency." This means that Muzhi's Sushi
A) produces a given output using the least inputs.
B) produces a given output at the lowest cost.
C) has an economic profit greater than a normal profit.
D) has a normal profit greater than an economic profit.
Answer: A
Skill: Conceptual
11) When Acme Inc. produces a certain amount of output by using the least amount of inputs,
Acme Inc. definitely
A) maximizes profits.
B) minimizes labor costs.
C) achieves technological efficiency.
D) achieves economic efficiency.
Answer: C
Skill: Conceptual
12) When Acme, Inc. produces a certain amount of output at least cost, Acme, Inc. definitely
A) achieves economic efficiency.
B) uses more capital than labor.
C) earns a normal profit.
D) None of the above is true.
Answer: A
Topic: Economic Efficiency
Skill: Conceptual
8
13) Economic efficiency occurs when the firm produces a given output
A) by using the least amount of inputs.
B) by using the maximum amount of inputs.
C) at the least cost.
D) at the greatest cost.
Answer: C
Skill: Conceptual
14) Economic efficiency necessarily occurs when the firm

A) produces a given output at least cost.
B) produces a given output by using the least inputs.
C) earns a normal profit.
D) earns an economic profit.
Answer: A
Skill: Conceptual
15) Which of the following is TRUE?

A) Economic efficiency occurs if the maximum feasible amount of output is achieved from a
given quantity of inputs.
B) Economic efficiency depends only on what is feasible.
C) If production is technologically efficient then it must be economically efficient.
D) None of the above statements are correct.
Answer: D
Skill: Conceptual
16) Economic efficiency definitely occurs whenever

A) a firm cannot increase its output without increasing all its inputs.
B) there are no implicit costs.
C) the most modern technology is used in the production process.
D) the firm produces a given output at the least cost.
Answer: D
Skill: Conceptual
17) Which of the following statements is CORRECT?

A) Technological efficiency depends on the relative costs of resources.
B) Economic efficiency occurs when the firm produces a given output at the least cost.
C) A firm can be economically efficient without being technologically efficient.
D) Economic efficiency depends only on production methods.
Answer: B
9
Skill: Conceptual
18) A company needs to know the price of each resource it employs if it wants to determine
whether or not it is achieving
A) technological efficiency.
B) economic efficiency.
C) accounting efficiency.
D) managerial efficiency.
Answer: B
Skill: Conceptual
19) The accountant for Muzhi's Sushi claims that Muzhi has accomplished "economic
efficiency." This means that Muzhi's Sushi
A) produces a given output using the least inputs.
B) produces a given output at the lowest cost.
C) has an economic profit greater than a normal profit.
D) has a normal profit greater than an economic profit.
Answer: B
Skill: Conceptual
20) Firm A can produce a unit of output with 10 hours of labor and 5 units of material. Firm B
can produce a unit of output with 5 hours of labor and 10 units of material. Firm C can produce a
unit of output with 10 hours of labor and 10 units of material. If the prices of labor and material
are $10 per hour and $5 per unit, respectively, which of these firms is economically efficient?
A) firm A only
B) firm B only
C) firm C only
D) Firms A and B could both be economically efficient.
Answer: B
Skill: Analytical
10
3 Information and Organization
1) Firms organize production by using a mix of

A) command and incentive systems.
B) market and agency systems.
C) command and market systems.
D) incentive and agency systems.
Answer: A
Topic: Information and Organization
Skill: Conceptual
2) In order to maximize profits, firms organize their production using

A) only a command system.
B) only an incentive system.
C) a combination of command and incentive systems.
D) neither a command nor an incentive system.
Answer: C
Skill: Conceptual
3) If worker output is not measurable in physical units, and employees are hard to monitor, it
would be best to organize the firm using
A) a command system.
B) a monitoring system.
C) an incentive system.
D) None of the above answers is correct.
Answer: C
Skill: Conceptual
4) A command system is a method of coordinating a firm's productive resources that uses

A) government regulations.
B) discipline and punishment.
C) a managerial hierarchy.
D) survival of the fittest.
Answer: C
Topic: Command Systems
Skill: Conceptual
11
5) A command system is a
A) method of organizing production that uses a market-like mechanism inside the firm.
B) method of organizing production that uses a managerial hierarchy.
C) set of rules that induce an agent to act in the best interest of a principal.
D) method of production that implements an assembly-line process.
Answer: B
Skill: Definition
6) A command system is a method of organizing production that

A) uses a market-like mechanism inside the firm.
B) relies on competitive markets.
C) uses a managerial hierarchy.
D) uses incentives most extensively.
Answer: C
Skill: Definition
7) An incentive system is a
A) method of organizing production that uses a market-like mechanism inside the firm.
B) method of organizing production that uses a managerial hierarchy.
C) set of rules that induce an agent to act in the best interest of a principal.
D) method of production that implements an assembly-line process.
Answer: A
Topic: Incentive Systems
Skill: Definition
8) When a firm links its employees' compensation to the performance of the firm, the firm is
using
A) an incentive system.
B) a command system.
C) a cooperative system.
D) an agency system.
Answer: A
Skill: Conceptual
12
9) A golf club manufacturer pays its workers based on the number of sets of clubs they produce.
This firm
A) organizes production based on an incentive system.
B) organizes production based on a command system.
C) does not have any implicit costs.
D) does not have explicit costs.
Answer: A
Skill: Conceptual
10) Which of the following statements is CORRECT?

A) Command systems are used only in the military.
B) An incentive system is a method of organizing production that uses a market-like mechanism
inside the firm.
C) Selling organizations usually don't use incentive systems.
D) A production line is a good example of how an incentive system works.
Answer: B
Skill: Conceptual
11) The principal-agent problem is the issue of inducing

A) agents and principals to work hard.
B) principals to act in the best interests of agents.
C) agents to act in the best interests of principals.
D) None of the above answers is correct.
Answer: C
Topic: The Principal-Agent Problem
Skill: Definition
12) An example of the principal-agent problem is when

A) managers try to cope with employees that are inefficient.
B) proprietors don't receive any money payment for their entrepreneurial skills.
C) managers devise penalties that eliminate employee waste.
D) managers devise incentives that encourage employees to act in the owner's behalf.
Answer: D
Skill: Conceptual
13
13) The principal-agent problem means that managers must
A) find ways for managers to get people to buy stock in their company.
B) devise compensation rules to induce principals to act in the best interest of agents.
C) devise compensation rules to induce agents to act in the best interest of principals.
D) find efficient agents who will negotiate fair compensation rules for a firm's principal
managers.
Answer: C
Skill: Conceptual
14) A large part of the principal-agent problem stems from the desire of
A) agents to work hard.
B) agents to avoid working.
C) principals to work hard.
D) principals to avoid working.
Answer: B
Skill: Analytical
15) The principal-agent problem refers to the fact that firms must
A) choose between economic efficiency and technological efficiency.
B) choose between a managerial and an incentive system.
C) devise incentives to get employees to work in the best interest of the firm's owners.
D) choose between operating as a partnership or corporation.
Answer: C
Skill: Conceptual
16) A principal-agent problem occurs when hiring workers to work for a firm because
A) workers' interests are not always the same as the interests of the owners of the firm.
B) workers do not respond to incentives.
C) the owners of a firm are always in a position to exploit the workers.
D) workers' interests are not important in the managerial decisions of the firm.
Answer: A
Topic: Principal-Agent Problem
Skill: Conceptual
14
17) Bill is working as the only employee at a local store. The relation between Bill and the owner
of the store is such that Bill is ________ and the owner is ________.
A) the agent; the principal
B) both principal and agent; neither a principal nor an agent
C) neither a principal nor an agent; both principal and agent
D) the principal; the agent
Answer: A
Topic: Principal-Agent Problem
Skill: Conceptual
18) The principal-agent problem suggests that

A) principals and agents always have the same goals.
B) principals and agents will never have the same goals.
C) principals and agents are more likely to have the same goals if the principal gives the agent
flexibility to make his own decisions.
D) principals and agents are more likely to have the same goals if the agent's pay is tied to
satisfying the principal's goals.
Answer: D
Skill: Conceptual
19) When bank tellers converse with each other, keeping customers waiting in line, they are
A) unemployed.
B) out of the labor force.
C) working in the best interest of the agent.
D) working in the best interest of the principals.
Answer: C
Skill: Analytical
20) A baseball player who has signed a long-term contract with his club and then constantly says
he is injured and cannot play is an example of ________.
A) the principal-agent problem
B) marginal returns to work
C) the law of diminishing returns
D) inefficient hiring practices
Answer: A
Skill: Conceptual
15
4 Markets and the Competitive Environment
1) Which of the following are types of economic markets?

I. perfectly competitive
II. oligopoly
III. monopoly
IV. multilateral
A) I and II
B) II and III
C) I and IV
D) I, II and III
Answer: D
Topic: Markets
Skill: Conceptual
2) A market structure in which many firms are selling an identical product is called
A) perfect competition.
B) monopolistic competition.
C) oligopoly.
D) monopoly.
Answer: A
Topic: Market Structure, Perfect Competition
Skill: Conceptual
3) A market with the characteristics of many firms selling an identical product, many buyers, and
no restrictions on entry or exit to the market is
A) a monopoly market.
B) an oligopolistic market.
C) a perfectly competitive market.
D) a monopolistically competitive market.
Answer: C
Skill: Conceptual
4) The market for wheat is an example of

Answer: C
Skill: Conceptual
16
5) Under ________ there are many firms selling identical products.
A) perfect competition
B) monopolistic competition
C) oligopoly
D) monopoly
Answer: A
Skill: Conceptual
6) Which of the following pairs of market types are both characterized by having a large number
of firms?
A) monopoly and oligopoly
B) monopoly and monopolistic competition
C) perfect competition and oligopoly
D) perfect competition and monopolistic competition
Answer: D
Topic: Market Structure, Perfect & Monopolistic Competition
Skill: Conceptual
7) Under ________, there are many firms selling slightly different products.
C) oligopoly
D) monopoly
Answer: B
Topic: Market Structure, Monopolistic Competition
Skill: Conceptual
8) In a market where firms are successful in convincing their customers that their product is
different from their competitors' product but otherwise have no barriers to entry would be best
characterized by
A) monopolistic competition.
B) a monopoly.
C) perfect competition.
D) an oligopoly market.
Answer: A
Topic: Monopolistic Competition
Skill: Conceptual
17
9) Which market type has characteristics as follows: large number of firms, differentiated
product?
C) oligopoly
D) monopoly
Answer: B
Skill: Conceptual
10) A market structure in which many firms compete by making similar but slightly different
products is called
C) oligopoly.
D) monopoly.
Answer: B
Skill: Conceptual
11) In a given market, a large number of firms sell a similar product. Consumers think that each
firm's product is somewhat different from that of its competitors. This market is
A) perfectly competitive.
B) monopolistically competitive.
C) equivalent to a monopoly because consumers think the products are different.
D) equivalent to an oligopoly because consumers think the products are different.
Answer: B
Skill: Conceptual
12) The market structure in which a large number of firms compete by making similar but
slightly different products is called
A) monopoly.
C) perfect competition.
D) oligopoly.
Answer: B
Skill: Conceptual
18
13) In monopolistic competition, there are ________.
A) many firms selling products for which no good substitutes exist
B) many firms selling similar but slightly different products
C) many firms, each selling an identical product
D) a small number of firms, each selling an identical product
Answer: B
Skill: Definition
14) A market structure in which a small number of firms compete is called

C) oligopoly.
D) monopoly.
Answer: C
Topic: Market Structure, Oligopoly
Skill: Definition
15) Under oligopoly, there are ________ firms selling products that are ________.
A) many; either identical or different
B) a few; either identical or different
C) many; different
D) a few; identical
Answer: B
Skill: Conceptual
16) Coca Cola and Pepsi, which together account for about 85 percent of the soft drink market,
are best described as being in
Answer: B
Skill: Conceptual
19
17) The air travel market, which is dominated by a few large firms, is an example of
Answer: B
Skill: Conceptual
18) A market structure in which one firm produces a good or service that has no close substitutes
is called
C) oligopoly.
D) monopoly.
Answer: D
Topic: Market Structure, Monopoly
Skill: Conceptual
19) Which market type has characteristics as follows: one firm, good or service produced has no
close substitutes, barriers to entry prevent new firms from entering into the industry?
C) oligopoly
D) monopoly
Answer: D
Skill: Definition
20) Kansas Power and Light, the only supplier of electricity in Kansas, is an example of a firm in
what type of market?
A) a monopoly market
B) an oligopolistic market
C) a perfectly competitive market
D) a monopolistically competitive market
Answer: A
Skill: Conceptual
20
5 Produce or Outsource? Firms and Markets
1) Which of the following can lead to a firm being more efficient that a market? A firm can have
I. economies of scale.
II. economies of scope.
III. lower transactions costs.
A) III only
B) I and II
C) II and III
D) I, II and III
Answer: D
Topic: Why Firms?
Skill: Conceptual
2) Which of the following is a reason why firms may be more efficient than markets as
coordinators of economic activity?
A) economies of scale and scope
B) lower transactions costs
C) economies of team production
D) all of the above
Answer: D
Topic: Why Firms?
Skill: Conceptual
3) Which of the following is a reason why firms can be more efficient than markets as
coordinators of economic activity?
A) economies of scale and scope
B) higher transactions charges
C) elimination of the principal-agent problem
D) all of the above
Answer: A
Topic: Why Firms?
Skill: Conceptual
4) Dell uses outsourcing, that is, Dell buys the components of the computers it produces from
other firms. This is an example of
A) firm coordination.
B) a partnership.
C) a command system.
D) market coordination.
Answer: D
Topic: Why Firms?
Skill: Conceptual
21
5) Which of the following is NOT an advantage of firm coordination of economic activity?
A) Firm coordination decreases transactions costs.
B) When firms coordinate economic activity, there are no opportunity costs.
C) Firms can take advantage of the economies of team production.
D) Economies of scope can be realized by firms that produce a range of goods and services that
share specialized resources.
Answer: B
Topic: Why Firms?
Skill: Conceptual
6) Costs to the firm arising from reaching agreements on input prices with suppliers and then
ensuring that terms of agreements are fulfilled, are called
A) negotiation costs.
B) agency costs.
C) transactions costs.
D) implicit costs.
Answer: C
Topic: Why Firms?, Transactions Costs
Skill: Conceptual
7) One reason why firms replace markets for some activities is that firms
A) reduce the number of transactions required.
B) enable individuals to avoid a large portion of their taxes.
C) reduce the rate at which the product is wasted.
D) do not require team production.
Answer: A
Skill: Conceptual
8) Firms are often more efficient than markets as coordinators of economic activity because
A) firms can achieve lower transaction costs.
B) markets cannot coordinate production.
C) firms don't rely on economies of scale while markets do.
D) firm coordination is always more economically efficient than market coordination.
Answer: A
Skill: Conceptual
22
9) According to Nobel laureate Ronald Coase, firms exist in order to
A) maximize transactions costs.
B) minimize transactions costs.
C) maximize transactions.
D) employ workers.
Answer: B
Skill: Conceptual
10) A key reason for the existence of firms is that, compared to markets, firms often achieve
lower
A) explicit costs.
B) transactions costs.
C) accounting costs.
D) scope of team production.
Answer: B
Skill: Conceptual
11) One of the reasons that a firm can be ________ efficient than a market is that the firm
________.
A) more; does not have any economies of scale
B) more; lowers transactions costs
C) less; has economies of scope
D) less; produces lower profits
Answer: B
Skill: Conceptual
12) Kris wants to purchase a house. She buys newspapers to read the classified advertisements
and spends her evenings with realtors looking at houses. Kris has incurred the ________ costs of
making a purchase.
A) transactions
B) market
C) buying
D) scale
Answer: A
Skill: Conceptual
23
13) When the cost of producing a unit of a good decreases as its output rate increases, there are
economies of
A) scale.
B) scope.
C) production.
D) size.
Answer: A
Topic: Why Firms?, Economies of Scale
Skill: Conceptual
14) "When the cost of producing a unit of a good falls as its output rate increases" is the
definition of
A) economies of scope.
B) economies of scale.
C) economic efficiency.
D) technological efficiency.
Answer: B
Skill: Definition
15) Economies of scale exist when the

A) total cost of production falls as the output increases.
B) cost of producing a unit of a good falls as its output decreases.
C) cost of producing a unit of a good falls as its output increases.
D) firm uses specialized resources to produce a range of goods and services.
Answer: C
Skill: Conceptual
16) Economies of scale exist when the ________ a unit of a good ________.
A) average cost of producing; falls as its output rate increases
B) price; falls as its input rate decreases
C) price; rises as its output rate increases
D) average cost of producing; rises as its input rate increases
Answer: A
Skill: Conceptual
24
17) ________ coordinate economic activity in which there are substantial ________.
A) Markets; team production efficiencies
B) Markets; transactions costs
C) Firms; economies of scale
D) Firms; principal-agent problems
Answer: C
Skill: Conceptual
18) If Quick Auto Service increases the size of its shop, enabling it to purchase cost-saving
capital equipment so that the cost of servicing a car falls, this would be an example of
C) monitoring.
D) increasing transactions costs.
Answer: B
Skill: Conceptual
19) When Jitters Coffee Company, Inc., can lower the cost of packaging a pound of coffee by
doubling the quantity packaged each day, it is achieving
A) economies of scale.
B) economies of scope.
C) economies of team production.
D) all of the above
Answer: A
Skill: Conceptual
20) When Fatz confectionery can lower the cost of manufacturing and packaging a pound of
candy by doubling the quantity manufactured and packaged each day, it will achieve
C) economies of team production.
D) all of the above
Answer: B
Skill: Conceptual
25

Chapter 10選擇題精華

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Chapter 10選擇題精華

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Microeconomics, Global Edition (Parkin)

Chapter 10 Organizing Production

1 The Firm and Its Economic Problem

1) The most important goal of the firm is to

2) A firm's basic goal is best described as

6) A firm's opportunity costs ________.

7) Which of the following costs are part of a firm's opportunity costs?

10) Which of the following is part of a firm's opportunity costs?

11) The implicit rental rate for capital is

12) The implicit rental rate for capital includes the

16) Economic depreciation is the

19) Costs as measured by accountants generally does not include

1) Technological efficiency occurs when the firm produces a given output

2) Technological efficiency necessarily means producing

3) A firm has achieved technological efficiency whenever it has

6) Which of the following is a CORRECT statement?

14) Economic efficiency necessarily occurs when the firm

15) Which of the following is TRUE?

16) Economic efficiency definitely occurs whenever

17) Which of the following statements is CORRECT?

1) Firms organize production by using a mix of

2) In order to maximize profits, firms organize their production using

4) A command system is a method of coordinating a firm's productive resources that uses

6) A command system is a method of organizing production that

10) Which of the following statements is CORRECT?

11) The principal-agent problem is the issue of inducing

12) An example of the principal-agent problem is when

18) The principal-agent problem suggests that

1) Which of the following are types of economic markets?

4) The market for wheat is an example of

14) A market structure in which a small number of firms compete is called

15) Economies of scale exist when the

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