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Matching Post Quiz
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Match the correct answers below.
1


Q/L.

2


Time frame in which firms are able to change all of the factors of production including capital.

3


Shows the maximum output that can be produced with a given quantity of inputs.

4


As we add more and more units of the inputs to production process, we get fewer and fewer additional units of output.

5


Improvements in the processes for producing goods and services, changes in old products, or introduction of new products.

6


The extra output produced by adding an additional unit of an input to the production process while holding other inputs to production constant.

7


The total amount of output produced.

8


An example of an individual proprietorship.

9


It will be charged an extra tax on its profits.

10


A network is a linking of different people through a particular medium.

11


A fixed input to production in the short-run.

12


Arise when a increase in all inputs leads to a more-than-proportional increase in the level of output.

13


The ratio of total output to a weighted average of inputs.

Answer choices for questions 1 through 13
A)AP
B)Network
C)Captial
D)Marginal product
E)Economies of scale
F)Technological change
G)Long-run
H)Production function
I)Small-town hardware store
J)Total product
K)Law of diminishing returns
L)Productivity
M)A disadvantage of a corporation





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