Posted on June 3, 2024 by Tadele AnagawAgricultural Economics model exit exam practice questions 208 12345 Created by Tadele Anagaw Agricultural Economics model exit exam practice questions Salale University Department of Agricultural Economics multiple choice practice questions Name of StudentID NumberModality (egular, Extention or Weekend)Phone Number 1 / 5 1) A movement along a demand curve can be caused by a change in ___________. A) The price of substitute/complement B) The price of the good in question C) Expectations about future prices D) Consumer income multiple choice 2 / 5 2) Long run production function is a relationship between _____________. A) Cost-output B) Factor-factor C) Factor-product D) product-product multiple choice 3 / 5 3) In a simple model of resource market, a household is_______ A) Seller of resources B) Buyer of resources C) Supplier of goods and services D) Buyer of goods and services multiple choice 4 / 5 4) When the firm experiences increasing marginal returns _______________________. A) Marginal cost is constant B) Marginal costs are increasing C) Marginal costs are decreasing D) Total costs are decreasing multiple choice 5 / 5 5) Marginal cost and average cost are the same at the output level in which ______________. A) MC is minimum B) AVC is minimum C) MP is maximum D) AC is minimum multiple choice Your score is 0%
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