ECON 6100 Chapter 2 - 14 Exams, Questions and Answers. A Rated

ECON 6100 Chapter 3: Benefits Costs and Decisions.1. Variable costs are a. costs that vary with output b. not important in decision making c. costs that do not vary with output d. equal to total costs ANSWER: a TOPICS: Section 1: Background: Variable, fixed and Total Cost...

ECON 6100 Chapter 4: Extent How Much Decisions

ECON 6100 Chapter 5 Investment Decisions Latest Exam, Questions and Answers.1. The higher the interest rates a. the more value individuals place on future dollars b. the more value individuals place on current dollars c. individuals do not place any importance on either current or fu...

ECON 6100 Chapter 6: Simple Pricing.1. The first law of demand states that a. the quantity demanded increases as price falls b. the quantity demanded decreases as price falls c. the quantity demanded increases as price increases d. none of the above ANSWER: a TOPICS: Sect...

ECON 6100 Chapter 7: Economies of Scale and Scope.1. The law of diminishing marginal productivity states that a. As you expand output, your marginal productivity eventually increases b. As you expand output, your marginal productivity eventually declines c. As you expand output, the tota...

ECON 6100 Chapter 8: Understanding Markets and Industry Changes.1. Demand and supply analysis is particularly important if a. the success of your firm is closely linked to the profitability of your primary industry b. the success of your firm is independent of the profitability of your prima...

ECON 6100 Chapter 9: Market Structure and Long Run Equilibrium.1. All of these are characteristics of a competitive industry, except: a. Many substitutes b. No barriers to entry c. Homogenous product d. Little or no information on rivals’ products ANSWER: d TOPICS: Sect...

ECON 6100 Chapter-10-Strategy:The Quest to Keep Profit from Eroding.1. Firms maintain their completive edge by a. Providing a good at lower costs than their rivals b. Providing a superior product at the same cost as your rival c. Being innovative d. All the above ANSWER: d ...

ECON 6100 Chapter 11: Foreign Exchange Trade and Bubbles.1. When interest rates go up, people are a. More likely to borrow b. Less likely to borrow c. Does not affect a person’s consumption d. None of the above ANSWER: b TOPICS: Section 1: The Market for Foreign Exchang...

ECON 6100 Chapter 12: More Realistic and Complex Pricing.1. Acquiring a firm that sells a substitute good would make the demand curve for your original product a. More inelastic b. More elastic c. Unchanged d. None of the above ANSWER: a TOPICS: Section 1: Pricing Commonl...

ECON 6100: Chapter 13 and 14 Direct and Indirect Price Discrimination.1. Which of the following is an example of price discrimination? a. Seniors paying a lower price for tickets at movie theatres b. Students paying discounted rates on travel c. Tourists paying higher prices on local...