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Subject - Economics:

Microeconomics

MCQ - 132-4142

Question:

1 -69145336
The figure above best represents which of the following functions?

  1. Total product of labor
  2. Total revenue
  3. Total cost
  4. Total revenue
  5. Total short-run economic profits

Correct Answer: B

Explanation:

Quickly look at the graph to eliminate some possibilities. With dollars on the y axis, this curve cannot represent TPL (output on the y axis) or total utility (utility on the y axis). The other key is that this curve has a value of zero dollars at an output of zero. TC = TFC at zero output and short-run economic losses equal TFC at zero output.

Record Performance

269 MCQ for effective preparation of the test of Microeconomics of Economics section.

Read the MCQ statement: The figure above best represents which of the following functions? , keenly and apply the method you have learn through the video lessons for Microeconomics to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 132-4142.

How to Answer

Solve the question for MCQ No. and decide which option (A through D/E) is the best choice to answer the MCQ, then click/tap the blue button to view the correct answer and it explanation.

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