Cost Concepts & Breakeven Quiz

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Assess key cost concepts and breakeven.

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sarah ayyad

United Arab Emirates

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Cost Concepts & Breakeven Quiz


Cost Concepts & Breakeven QuizVersion en ligne Assess key cost concepts and breakeven. par sarah ayyad 1 At breakeven, profit equals zero. Yes No 2 The shutdown point is when price exceeds average variable cost. Yes No 3 The breakeven point occurs when total revenue is greater than total cost. Yes No 4 Marginal cost is the change in total cost from producing one additional unit. Yes No 5 Variable costs are constant regardless of production. Yes No 6 If price is above marginal cost, producing the next unit increases profit. Yes No 7 Fixed costs increase with output in the short run. Yes No 8 Breakeven point is where total revenue equals total cost. Yes No 9 Variable costs change with the level of production. Yes No 10 Average variable cost equals total variable cost divided by quantity. Yes No 11 In the short run, some costs are fixed and some are variable. Yes No 12 Fixed costs do not vary with output in the short run. Yes No 13 In perfect competition, price equals marginal revenue. Yes No 14 Marginal cost equals average total cost for all levels of output. Yes No 15 The marginal cost curve typically intersects the average total cost curve at its minimum point. Yes No 16 Marginal revenue is the change in total revenue from selling one additional unit. Yes No

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Cost Concepts & Breakeven Quiz

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À propos de cette activité

Créé par

Téléchargez la version pour jouer sur papier

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Cost Concepts & Breakeven QuizVersion en ligne

par sarah ayyad

At breakeven, profit equals zero.

The shutdown point is when price exceeds average variable cost.

The breakeven point occurs when total revenue is greater than total cost.

Marginal cost is the change in total cost from producing one additional unit.

Variable costs are constant regardless of production.

If price is above marginal cost, producing the next unit increases profit.

Fixed costs increase with output in the short run.

Breakeven point is where total revenue equals total cost.

Variable costs change with the level of production.

Average variable cost equals total variable cost divided by quantity.

In the short run, some costs are fixed and some are variable.

Fixed costs do not vary with output in the short run.

In perfect competition, price equals marginal revenue.

Marginal cost equals average total cost for all levels of output.

The marginal cost curve typically intersects the average total cost curve at its minimum point.

Marginal revenue is the change in total revenue from selling one additional unit.