Economics and Managerial Decision-Making: A Comprehensive Quiz on Key Concepts

This quiz tests understanding of managerial economics.

David Miller

Contributor

4.5

6 months ago

Preview (3 of 7 Pages)

100%

Purchase to unlock

Economics and Managerial Decision-Making: A Comprehensive Quiz on Key Concepts - Page 1 preview image

Loading page ...

Economics and Managerial Decision-Making: A Comprehensive Quizon Key Concepts1 Other things held constant, consumer surplus increases as:The price of a good decreases.The price of a good increases.The supply curve shifts to the left.None of the above.2. When there are diseconomies of scope between two products that are separatelyproduced by two firms, merging into a single firm can:accomplish an increase in sales.accomplish a reduction in costs.lead to an increase in cost.lead to a reduction in sales.3.For a cost function C = 100 + 5Q + 2Q2, the average variable cost ofproducing 10 units of output is:10.25.35.None of the answers are correct.4. Other things held constant, producer surplus decreases as:The price of a good decreases.The price of a good increases.The demand curve shifts upward.None of the above.5.Managerial economics:helps managers with day-to-day decisions.helps managers with long-term decisions.is valuable to the manager of a not-for-profit organization.All of the above statements are correct.6.The change in benefits that arises from a one-unit change in quantity is

Preview Mode

This document has 7 pages. Sign in to access the full document!

Report

Study Now!

XY-Copilot AI

Unlimited Access

Secure Payment

Instant Access

24/7 Support

Document Chat

Document Details

Subject

Economics

Related Documents

View all

Solved Assignments

Analysis of McDonald

This analysis explores McDonald's market structure, demand elasticity, income sensitivity, and competition. It highlights how pricing, consumer behavior, and economic shifts impact the company in the global fast food industry.

Class Notes

The Effect of Exercise on Clothespin Squeezing

This experiment tests if exercise improves clothespin squeezing speed. Results show 7 of 10 squeezed more after exercise. Future tests could explore gender, athletes, and stronger clips.

Solved Assignments

Analyzing Coca-Cola's Demand, Supply and Market St

Coca-Cola's demand rises with higher consumer income, showing it as a normal good. This analysis explores key demand and supply factors and the market structure affecting the company's global operations.

Solved Assignments