My daughter is a sophomore in high school taking an econ class. Unfortunately, the teacher has chosen not to use the assigned text book, and uses other material for his tests. Therefore, I can't help her study the text. These questions were part of the review for a recent test. Can anyone tell me if these are standard beginning h.s. econ questions?
1. The law of diminishing returns (A) is the same as the law of variable proportions; (B) is always true in the short run; (C) only applies to a situation in which some of the input factors are fixed; (D)all of the above; (E)none of the above.
2. Fixed cost (A) has some influence on variable cost; (B) has no influence on marginal cost; (C) has no influence on the most profitable rate of output; (D) all of the above; (E) none of the above.
3. Total cost (A) increases as output increases; (B) is a positive but not a linear function of output and sales; (C) goes up at the same rate as the variable cost goes up; (D) all of the above; (E) none of the above.
These questions were on a paper headed: "Chapter 21 - Short-Run Analysis: How Efficiency Changes as Output Changes."
Thanks for your help.
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My thoughts on your questions
1) The law of dimishing returns is not always true in the short run, and applies to many, many situations. Answer A.
2) Fixed cost has no influence on variable cost, has no influence on marginal cost, and has no influence on most profitable rate.
3) cost depends on output, is not linear, and goes up at the same rate as variable cost.
I am not an economist, so think out my reasoning.
Thank you for your advice. We'll sure look at those web sites.
To determine whether these questions are standard beginning high school econ questions, you can follow these steps:
1. Define the concept:
- Look up the terms mentioned in each question and understand their definitions. For example, understand the law of diminishing returns, fixed cost, variable cost, marginal cost, and total cost.
2. Consult curriculum guidelines:
- Review the curriculum guidelines or syllabus for the high school economics course. The guidelines should outline the topics and concepts that students are expected to learn and understand. Check if the concepts covered in the questions align with the curriculum.
3. Compare with textbook or online resources:
- Since your daughter's teacher does not use the assigned textbook, you can search for online resources or other textbooks that cover high school economics. Compare the concepts covered in the questions with the material in these resources to see if they are commonly taught.
4. Seek additional resources:
- Reach out to other students or parents whose children have taken similar high school economics courses. Inquire about the topics and concepts that were covered in their classes to get a broader understanding of what is typically taught.
By following these steps, you should be able to determine whether these questions are standard beginning high school economics questions.