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CISC 102 Lecture Notes - Lecture 33: Complex Instruction Set Computing, Logical Connective, Truth Table

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School
Queen's University
Department
Computing
Course
CISC 102
Professor
D. Rappaport

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CISC 102 Lecture Notes - Lecture 32: Idempotence, Complex Instruction Set Computing, Distributive Property

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CISC 102 Lecture Notes - Lecture 33: Complex Instruction Set Computing, Logical Connective, Truth Table

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CISC 102 Lecture Notes - Lecture 34: Logical Biconditional, Complex Instruction Set Computing, Truth Table

Document Summary

Typically, statements in mathematics are in the form: if p then q . In all examples below, assume variables are natural numbers. If a b and b a then a = b. If a - 7 < 0, then a < 7. If 2 | a then 2 | (a)(b) Note: all these statements are true, so long as a and b are natural #s. In logic, symbol > is used to model this type of statement, although the symbol does not necessarily have a causal relationship between p and q. If p then q is denoted as p > q, and is pronounced if p then q or p implies q . A truth table is used to define the outcomes when using the > logical operator. p. This is how implication is defined in logic, although the definition may not appear to make much sense. If sugar is sweet then lemons are sour.

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Related Questions

please answere all mutiple quistions

3- In short run production
a. all factors are variable.
b. two factors are variable.
c. two factor is fixed.
d. At least one factor is fixed.
4. When average product is at its maximum
a. Marginal cost is also at its maximum.
b. Marginal revenue product is also at its maximum.
c. Marginal cost is at its minimum.
d. Average variable cost is at its minimum.
e. None of the above.

5. If a firm has total revenues of ten million, explicit costs of eight million and implicit
costs of one million, then:
a. It is generating an accounting profit and incurring an economic loss.
b. It is generating an economic profit and incurring an accounting loss.
c. It is generating both an accounting and economic profit.
d. It is incurring both an accounting and economic loss.
e. Can’t determine from the information available.
6. Economics usually assumes that individuals:
a. Incur dissatisfaction from working.
b. Enjoy working more than leisure.
c. Want to do a good job while at work.
d. Are encouraged to enjoy themselves while at work.
e. None of the above.
7. Decreasing returns to a variable factor implies
a. Decreasing average variable cost.
b. Increasing average variable cost.
c. Increasing average fixed cost.
d. Constant average total cost.
e. Constant average variable cost.
8. All production for a profit-minded firm should occur in
a. Stage 1 of production
b. Stage 2 of production
c. Stage 3 of production
d. Stage 4 of production.
9. In Stage 2 of production
a. Average total cost is declining.
b. Average fixed cost is increasing.
c. Average variable cost is declining.
d. Marginal cost is increasing.
e. Marginal cost is decreasing.
10. L shaped isoquants imply
a. A perfect substitute production relationship between inputs.
b. A perfect substitute production relationship between outputs.
c. A perfect complementary production relationship between inputs.
d. A quasi substitute production relationship between inputs.
e. Output must be increasing faster than inputs.
11. In oligopolistic industries firms typically
a. attempt to avoid competing with each other.
b. are not concerned with their competitors.
c. choose a strategy based on creative destruction.
d. operate in the inelastic range of their demand curve.
e. all of the above.

12. The optimal input mix implies
a. That all output is increasing at an increasing rate.
b. That the marginal product of the inputs divided by their prices are equal.
c. That the marginal cost of the inputs is declining at a declining rate.
d. That increasing returns to scale is inevitable.
e. That decreasing returns to scale is inevitable.
13. If an industry’s MES is 5 percent
a. Then there is a 10 percent inefficiency in the industry.
b. Then there is room for twenty efficiently functioning firms in the industry.
c. Then there is an economies of scope issue in production.
d. Then there is an opportunity for increasing output at no additional cost.
14. Economies of scope imply
a. That all costs increase as the firm’s scope increases.
b. That all costs decrease as the firm’s scope decreases.
c. That average total costs may decrease as a firm’s scope increases.
d. That average fixed costs are not relevant to production decisions.
e. None of the above.
15. If a firm is on a learning curve this implies
a. That the firm’ s variable resources are not efficiently employed.
b. That the firm is enjoying a comparative advantage in the industry.
c. That the firm is enjoying economies of scale.
d. That the firm’s cumulative average total costs are declining.
e. That the firm’s cumulative average fixed costs are increasing.
16. The Law of Diminishing Marginal Returns suggests
a. That average total costs will go up and then down.
b. That average total costs will continually decline as more output is produced.
c. That marginal product will beyond some point begin to decline.
d. That marginal product is subject to an increasing cost situation.
e. That marginal cost and average variable cost are continually declining.
17. A key feature of oligopoly is
a. Lots of product promotion.
b. Mutual interdependence.
c. Mutual independence.
d. Excess capacity.
e. None of the above.
18. A key feature of monopolistic competition is
a. Mutual interdependence.
b. Formidable barriers to entry.
c. Only a few firms in the industry.
d. Traditionally large firms in the market.
e. Lots of product promotion.

19. In long run production
a. All costs are fixed.
b. Average fixed costs are declining.
c. Total variable costs are usually declining.
d. a firm’s planning period is represented.
e. Total Fixed costs are not usually very high.
20. In short run pure competition
a. A firm should not produce anything if P&gt;AFC.
b. A firm should produce only if P&gt;AFC.
c. A firm should produce only if P&lt;ATC.
d. Both A and C.
e. None of the above.
21. In long run pure competition
a. A firm should produce as long as P &gt; AVC.
b. A firm should produce as long as P &lt; MC
c. A firm should produce as long as P &gt; AFC.
d. A firm not produce as long as P &lt; ATC.
e. A firm should produce as long as P &gt; ATC.
22. Allocative efficiency occurs when
a. P equals ATC.
b. P equals AVC.
c. P equals MC.
d. P equals AFC.
e. P equals TVC.
23. Productive efficiency occurs when
a. P equals the minimum of ATC.
b. P equals the minimum of AVC.
c. P equals MC.
d. P equals AFC at its maximum.
e. P equals TC, but only in the long run.
24. Barriers to entry into an industry
a. Will prevent exit out of the industry.
b. Will prevent allocative efficiency from being realized in the long run.
c. Will prevent productive efficiency from being realized in the short run.
d. Will prevent all firms from using the newest technologies in their industry.
e. Will usually not harm competition in the industry.
25. Which of the following is considered an economically justified barrier to entry?
a. Government sanctioned barriers.
b. Pioneering brand name advantages.
c. Various pricing policies.
d. Reputation effects.
e. Economies of scale.

MULTIPLE CHOICE.

1) Which of the following is true of the typical relationship between marginal product (MP) and average product (AP)?

A) The AP curve intersects the MP curve at minimum MP.

B) If MP is less than AP, then AP is increasing.

C) If MP is greater than AP, then AP is falling.

D) The MP curve intersects the AP curve at maximum AP.

TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false.

2) If, for a particular short-run production, we observe that marginal product is decreasing we can conclude that average product is decreasing as well.

MULTIPLE CHOICE.

3) An implicit cost is defined as:

A) the amount by which the money spent on an input to production exceeds its opportunity cost.

B) the difference between an input's explicit cost and its actual cost.

C) the opportunity cost of using a resource that is not explicitly paid out by the firm.

D) the amount by which economic profit exceeds accounting profit.

MULTIPLE CHOICE.

4) The amount of output a firm can produce with a given quantity of fixed and variable inputs is called:

A) total fixed product.

B) average variable product.

C) marginal product.

D) total product.

5) Which of the following statements is true of the relationship among the average cost functions?

A) AFC = ATC + AVC

B) ATC = AFC - AVC
C) AVC = AFC + ATC

D) AFC = ATC - AVC

 

TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false.

6) A firm's production function is the relationship between the factors of production and the resulting outputs of the production process.

MULTIPLE CHOICE.

Scenario 2:
Output (Q): 0 1 2 3 4 5 6

Total Cost (TC): $24 $33 $41 $48 $54 $61 $69

7) Refer to Scenario 2. Diminishing marginal returns starts to occur between units:

A) 2 and 3.

B) 3 and 4.

C) 4 and 5.

D) 5 and 6.

8) Which of the following would be classified as a short-run decision?

A) trucking firm's decision to move to a smaller facility.

B) A firm's decision to decrease the amount of electricity used in day-to-day operations by encouraging employees to adopt conservation strategies, e.g., shut off lights when leaving a room.

C) A university's decision to add a new residence hall.

D) A restaurant's decision to increase the number of patrons it can accommodate by adding on a new dining room.

9) Economic profit is equal to the difference between: 9)

1.

2.

3.

4.

TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false.

10) At the point where a firm incurs diminishing marginal returns, total product will begin to decline.

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.

11) In the context of a production function, the remote order takers in the fast food industry would be classified as:

A) a fixed input.

B) a marginal input.

C) an inframarginal input.

D) a variable input.

Scenario 3:
Total Product (Q): 0 1 2 3 4 5 6

Total Cost (TC): $50 $80 $105 $125 $155 $195 $250

12.

13.

increase; lower

decrease; lower

increase; higher

decrease; higher

 

TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false.

14.

15.

 

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.

16) A labor-intensive method of production is one that:
A) combines a small but sophisticated labor force with a large amount of capital.

B) requires employees to work harder than they would in other occupations.
C) relies on large quantities of labor and smaller quantities of capital equipment. D) relies exclusively on labor.

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.

17) Assume a firm produces 500 units of a good by using two inputs, capital and labor, whose per unit prices are $10 and $4. Assume also that the marginal physical product of the last unit of capital is 30 and the marginal physical product of the last unit of labor is 10. To minimize costs this firm should employ:

A) more labor and less capital. B) more capital and less labor.
C) the existing combination of resources. D) both more labor and more capital.

TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false.

18) All else constant, a decrease in the per unit price of labor would create an incentive for a firm manager to substitute labor for capital in the firm's production process.

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.

19) All else constant, as the price of petroleum increases relative to the prices of other inputs to the production process, in their effort to minimize their total costs of production, we can expect to see firms employ:

A) the same amount of petroleum since there are no substitutes for petroleum. B) less petroleum and more of the other inputs to production.
C) less of each of the inputs of production.

D) more petroleum and less of the other inputs to production.