Ecop 1 Production and cost test | Quizalize

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Ecop 1 Production and cost test | Quizalize

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Ecop 1 Production and cost test

Quiz by Dr theo Marais

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Q 1/3
Score 0
Explain marginal cost
60
Cost associated with producing the extra unit
Q 2/3
Score 0
Does marginal production cut though total product at its highest point?
30
Yes, only for goods
No, except when average is also present.
Yes, in all cases.
No.

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3 questions

Q.

Explain marginal cost

1

60 sec

Q.

Does marginal production cut though total product at its highest point?

2

30 sec

Q.

What is the purpose of elasticity?

3

60 sec

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