a. Average total costs are increasing when marginal costs are increasing.

b. Marginal costs are increasing when average variable costs are higher than

c. Average variable costs are increasing when marginal costs are increasing.

d. Average variable costs are increasing when marginal costs are higher than (c)

e. Average total costs are constant when marginal costs are constant.

a. $4(c)

b. $11

c. $19

d. $32

e. impossible to determine from the information given

a. $6

b. $11

c. $30(c)

d. $43

e. impossible to determine from the information given

a. 2

b. 3

c. 4

d. 5

e. impossible to determine from the information given(c)

a. 0

b. 3

c. $20

d. $13(c)

e. impossible to determine

a. diseconomies of scale

b. a lower product price

c. inefficient production

d. the firm’s need to break even

e. diminishing returns(c)

a. Marginal product(c)

b. Marginal factor cost

c. Marginal cost

d. Total output

e. Wage rates

a. the first workers the firm hired were beter than the workers hired later

b. the firm is experiencing decreasing returns to scale(c)

c. the positive effect of specialization in production is being offset by the negative effect of crowding of inputs

d. output is decreasing

e. the firm should buy more non-labor inputs

a. cost of one worker

b. average output per worker

c. change in revenue from selling one more unit of output

d. change in revenue from using one more unit of labor

e. change in output from using one more unit of labor(c)

a. the cost of beef

b. electricity to light up the Wendy's sign

c. gasoline for the trucks that deliver supplies to the various franchises

d. interest on funds borrowed to build new facilities(c)

e. expenditures on paper and plastic for packaging

a. fixed cost at Q = 0 is $0

b. fixed cost at Q = 0 is less than $130

c. fixed cost at Q = 200 is $260

d. fixed cost at Q = 200 is $130(c)

e. it is impossible to calculate fixed costs at any other quantity

a. it is negative and increasing

b. it is negative and decreasing

c. it is positive and increasing(c)

d. it is positive and decreasing

e. it is positive and has a constant slope

a. 250,000

b. 450,000

c. 25,000

d. 56,000

e. 200,000(c)

a. if average value is greater than marginal value, marginal value will

b. if average value is greater than total value, total value will increase

c. if marginal value is greater than average value, average value will(c)

d. if marginal value is greater than total value, total value will increase

e. if the second total is greater than the first total, the average is

a. increasing marginal product

b. diminishing marginal returns

c. economies of scale(c)

d. diseconomies of scale

e. constant returns to scale

a. maximize the quantity that it sells

b. maximize its total revenue

c. maximize its market share

d. make maximum attainable profit(c)