| Read 'Chapter 1: Managerial Economics' & answer the following question(s): |
| 1. | The concept of “The Time value of Money” refers to: |
| |
| |
| |
| |
| 2. | Value maximization is broader than profit maximization because it considers |
| |
| |
| |
| |
| 3. | _____________________________ is not one of profit-making motives for companies |
| |
| |
| |
| |
| 4. | The role of a firm is to |
| |
| |
| |
| |
| 5. | Marginal analysis suggests that business decisions should be taken when |
| |
| |
| |
| |
| 74. | The Federal Trade Commission enforces antitrust laws by |
| |
| |
| |
| |
| 75. | The Sherman Act specifically prohibits |
| |
| |
| |
| |
| Read 'Chapter 2: Optimization Techniques' & answer the following question(s): |
| 6. | The second derivative is the measure of the rate of change of the first derivative. T F |
| |
| |
| 7. | Optimization is not |
| |
| |
| |
| |
| 8. | The derivative dy/dx measures |
| |
| |
| |
| |
| Read 'Chapter 3: Market Forces' & answer the following question(s): |
| 9. | Demand analysis is not useful in |
| |
| |
| |
| |
| 10. | Price elasticity can be used to answer |
| |
| |
| |
| |
| 11. | A shift in the supply of a product is brought about by a change in any factor other than the price of the product. T F |
| |
| |
| 12. | Movement along a demand curve is indicated by the quantity effect of a change in |
| |
| |
| |
| |
| 13. | A shift in demand is not caused by |
| |
| |
| |
| |
| 14. | The demand curve for automobiles will shift to the right if |
| |
| |
| |
| |
| 15. | The demand for peanut butter is linear and defined by the function P = $5 - $0.05Q. When quantity is increased from Q1 = 40 to Q2 = 60, the arc price elasticity of demand for peanut butter is |
| |
| |
| |
| |
| 16. | Two products are complements if |
| |
| |
| |
| |
| 17. | When the point price elasticity of demand equals -2 and the marginal cost per unit is $5, the optimal price is |
| |
| |
| |
| |
| 18. | All of the following are complementary goods except |
| |
| |
| |
| |
| 19. | An improvement in technology that in turn leads to improved worker productivity would most likely result in |
| |
| |
| |
| |
| 20. | If the price elasticity of demand for a normal good is estimated to be 2.5, a 4% reduction in its price causes |
| |
| |
| |
| |
| 21. | In any competitive market, an equal increase in both demand and supply can be expected to always |
| |
| |
| |
| |
| Read 'Chapter 4: Quantitative Demand Analysis' & answer the following question(s): |
| 22. | Demand estimation in a controlled environment is possible with |
| |
| |
| |
| |
| 23. | A method for predicting buyer response to hypothetical changes in product quality is provided by: |
| |
| |
| |
| |
| 24. | A sample of market data taken at a point in time is a |
| |
| |
| |
| |
| 25. | The identification problem in demand estimation refers to |
| |
| |
| |
| |
| Read 'Chapter 5: Business Forecasting' & answer the following question(s): |
| 26. | Time-series methods |
| |
| |
| |
| |
| 27. | Econometric forecasting methods |
| |
| |
| |
| |
| 28. | Which of the following is not a lagging economic indicator? |
| |
| |
| |
| |
| 29. | Barometric methods that employ leading economic indicators |
| |
| |
| |
| |
| 30. | Which of the following is not a qualitative forecasting method? |
| |
| |
| |
| |
| 31. | Input-output forecasting techniques are identified by which of the following? |
| |
| |
| |
| |
| 32. | Which of the following is not true regarding the Theil U statistic? |
| |
| |
| |
| |
| Read 'Chapter 6: Theory Of Production' & answer the following question(s): |
| 33. | A production function |
| |
| |
| |
| |
| 34. | The marginal rate of technical substitution is: |
| |
| |
| |
| |
| 35. | If the output elasticity equals 0.75, returns to scale are |
| |
| |
| |
| |
| 36. | The average product |
| |
| |
| |
| |
| 37. | A production process uses two inputs, w and r. The cost-minimization input principle is given by which expression? |
| |
| |
| |
| |
| 38. | An isoprofit curve reflects the various combinations of products that a firm can sell to earn a given level of profit. T F |
| |
| |
| 39. | An example of a perfect substitution is |
| |
| |
| |
| |
| 40. | An expansion path is a graphical device used to illustrate the amount of capital and labor a firm will use to |
| |
| |
| |
| |
| 41. | According to the law of diminishing returns, over some range of output |
| |
| |
| |
| |
| Read 'Chapter 7: Multiple Product Planning And Linear Programming' & answer the following question(s): |
| 42. | Linear programming assumes |
| |
| |
| |
| |
| 43. | An objective function |
| |
| |
| |
| |
| 44. | A negative value for a given slack variable implies |
| |
| |
| |
| |
| 45. | Applications of Linear Programming (LP) do not include |
| |
| |
| |
| |
| Read 'Chapter 8: Cost: Theory And Analysis' & answer the following question(s): |
| 46. | Relevant costs for managerial decisions are |
| |
| |
| |
| |
| 47. | Examples of the learning curve applications do not include |
| |
| |
| |
| |
| 48. | _________________________ looks at the effects on profits of changes in such factors as variable costs, fixed costs, selling prices, volume, and mix of products sold. |
| |
| |
| |
| |
| 49. | The difference between ATC and AVC is always equal to |
| |
| |
| |
| |
| 50. | Costs that vary with a decision is called |
| |
| |
| |
| |
| 51. | Costs that involve no cash payment are called |
| |
| |
| |
| |
| 52. | Types of functions that have been most commonly employed in fitting statistical cost functions are |
| |
| |
| |
| |
| Read 'Chapter 9: Pricing And Profit Strategy' & answer the following question(s): |
| 53. | In a perfectly competitive market |
| |
| |
| |
| |
| 54. | In the long run, firms will exit a perfectly competitive industry if |
| |
| |
| |
| |
| 55. | In a monopolistically competitive industry, firms |
| |
| |
| |
| |
| 56. | A market characterized by interdependence among sellers is |
| |
| |
| |
| |
| 57. | Forms of market structure do not include |
| |
| |
| |
| |
| 58. | Two measures describing industry characteristics are |
| |
| |
| |
| |
| 59. | The ___________________ measures how much of the total output in an industry is manufactured by the largest firms in that industry. |
| |
| |
| |
| |
| Read 'Chapter 10: Risk In Project Analysis' & answer the following question(s): |
| 60. | Two common pricing policies are market skimming and penetrating. T F |
| |
| |
| 61. | The most popular pricing approach is |
| |
| |
| |
| |
| 62. | An example of peak-load pricing is |
| |
| |
| |
| |
| 63. | The optimal markup on price will fall following an increase in: |
| |
| |
| |
| |
| 64. | If marginal cost is $20 and the price elasticity of demand is -5, the optimal price is: |
| |
| |
| |
| |
| Read 'Chapter 11: Long -Term Investment Decisions (Capital Budgeting)' & answer the following question(s): |
| 65. | Firms should finance a project if its |
| |
| |
| |
| |
| 66. | How would you define the cost of capital? |
| |
| |
| |
| |
| 67. | How is the post-audit determined |
| |
| |
| |
| |
| Read 'Chapter 12: Risk in Project Analysis' & answer the following question(s): |
| 68. | Risk analysis is the process of analyzing unforeseen events. T F |
| |
| |
| 69. | Excessive risk avoidance is consistent with: |
| |
| |
| |
| |
| 70. | An “expected value” is defined as: |
| |
| |
| |
| |
| 71. | A “decision tree” is |
| |
| |
| |
| |
| Read 'Chapter 13: A Manager's Guide to Government in the Market Place' & answer the following question(s): |
| 72. | Government regulation is sometimes justified on the basis of its ability to correct various market imperfections or failures which lead to inefficiency and waste. T F |
| |
| |
| 73. | The Federal Trade Commission Act addresses |
| |
| |
| |
| |
Browse
Courses
