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Texas_A_M_University_-_CHEM_112_Final_chem_lab_paper.docx-Determining the Beer Sequestering Agent Chemistry

A p r o d u c ti o n f u n c ti o n   Student Answer: a. tells you how inputs are affected by output b. tells you how output varies as inputs vary c. assumues that the sate of technology is given d. b+c e. none of the above   Points Received: 1 of 1   Comments: Q u e st i o n : The short run for a compa ny is   Student Answer: a. less than one year b. more than one year but less than tree years c. defined by calendar time elapsed d. none of the above   Points Received: 1 of 1   Comments: Q u e st i o n : In the product ion functio n: Q=2.6L .5 *k .4 *M .1 , returns to scale implied are:   Student Answer: a. 2.6 times the amount of inputs b. increasing returns c. a+b d. None of the above   Points Received: 1 of 1   Comments: Q u e st i o n : Given the product ion functio n: Q=6L 2 M 2 -.10L 3 M 3 , where L=units of labor and M=unit s of materia l. How many units of L maximi ze Q,   given M=10 is fixed? Student Answer: a. L=360 b. L=4 c. L=3600   Points Received: 1 of 1   Comments: Q u e st i o n : Given the produ ction functi on in 4 above, the numbe r of units of labor (L) that maxi mizes margi nal produ ct of labor given M=10 is   Student Answer: a. L=4 b. L=0 c. L=10 d. L=2 e. None of the above   Points Received: 1 of 1   Comments: Q u e st i o n : A compa ny should use all resour ces availa ble to reduce the numbe r of defect s produ ced to zero.   Student Answer: True False   Points Received: 1 of 1   Comments: Page: 236 Q u e st i o n : The law of eventu ally dimini shing margi nal return s:   Student Answer: a. states that each and every increase in the amount of the variable factor employed in the production process will yield diminishing marginal returns. b. is a mathematical theorem that can be logically proved or disproved c. is the rate at which one input may be substituted for another input in the production process d. None of the above   Points Received: 0 of 1   Comments: Q u e st i o n : The margi nal produ ct is define d as:   Student Answer: a. the ratio of total output to the amount of the variable input used in producing the output b. the incremental change in total output that can be produced by the use of one more unit of the variable input in the production process c. the percentage change in output resulting from a given percentage change in the amount of the variable input X employed in the production process with Y d. None of the above   Points Received: 1 of 1   Comments: Q u e st i o n : The rate at which one input X may be substit uted for anothe r input   Y in a produ ction proces s, while total output remai ns consta nt, is: Student Answer: a. the slope of the isoquant curve b. the marginal rate of technical substitution   d. all of the above e. none of the above c. equal to MPx/MPy   Points Received: 1 of 1   Comments: Page: Q u e st io n : Margin al revenu e product is:   Student Answer: a. defined as the amount that an additional unit of the variable input adds to the total revenue b. equal to the marginal factor cost of the variable factor times the marginal revenue resulting from the increase in output obtained c. equal to the marginal product of the variable factor times the marginal product resulting from the increase in output obtained d. a and b e. a and c   Points Received: 0 of 1   Comments:

ECO | 562 | Managerial Economics | assessment | A p r o d u c ti o n f u n c t

30 . Because most data values are on the left, we would say that this dot plot (burglary rates per 100,000 persons in 350 U.S. cities) shows a distribution that is skewed to the left (negatively skewed). True False 31 . It is possible to construct a histogram or frequency polygon with open- ended classes. True False 32 . Except for the Y -axis scaling, a histogram will look the same if we use relative frequencies instead of raw frequencies (with the same bin limits). True False Multiple Choice Questions 33 . The ______________ can be used to diﬀerentiate the "vital few" causes of quality problems from the "trivial many" causes of quality problems. A. histogra m B. scatter plot C. Pareto chart D. box plot 34 . Which is not a characteristic of a dot plot? A. Simplici ty B. Legibili ty C. Wide bins D. Dot stacking 35 . Which display is most likely to reveal association between X and Y ? A. Dot plot B. Scatter plot C. Histogra m D. Pareto chart 36 . Which criterion is least likely to be used in choosing bins (classes) in a frequency distribution? A. Following Sturges' Rule B. Selecting "nice" class (bin) limits C. Using aesthetic judgment D. Always starting at zero 37 . Which of the following is true? A. Line charts are not used for cross- sectional data. B. Line charts are useful for visualizing categorical data. C. Pyramid charts are generally preferred to bar charts. D. Pie charts can generally be used instead of bar charts. 38 . Histograms generally do not reveal the: A. exact data range. B. modal classes (bins). C. degree of skewness. D. relative frequencies. 39 . A column chart would be least suitable to display which data? A. Annual compensation of 500 company CEOs B. U.S. exports to its six largest trading partners C. Exxon-Mobil's quarterly sales for the last four years D. One-year CD interest rates paid by the eight largest U.S. banks 40 . A line chart would not be suitable to display which data? A. U.S. oil imports from OPEC nations for the last 20 years B. Annual compensation of the top 50 CEOs C. Exxon-Mobil's quarterly sales data for the last ﬁve years D. Daily stock market closing prices of Microsoft for the past month 41 . Which is not a tip for eﬀective column charts? A. Time usually goes on the horizontal axis. B. Bar height should be proportional to the quantity displayed. C. Label data values at the top of each bar unless graphing lots of data. D. The nonzero origin rule may be waived for ﬁnancial reports.

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