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ECON 528 Module 1 Quiz | Questions and Answers with Complete Solution | 100% Correct

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Institution University Of Louisiana At Lafayette
Course ECON 528
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ECON 528 Module 1 Quiz | Questions and Answers with Complete Solution | 100% Correct

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Dashboard / My courses / ECON528-850-202520 / Module 1 / Module 1 Quiz



Started on Sunday, September 1, 2024, 8:59 PM
State Finished
Completed on Sunday, September 1, 2024, 9:04 PM
Time taken 4 mins 25 secs
Points 5.00/5.00
Grade 10.00 out of 10.00 (100%)

Question 1 Correct 1.00 points out of 1.00


Managerial economics is best defined as the economic study of:

Select one:
a. how businesses can operate at the lowest costs.
b. how businesses can decide on the best use of scarce resources. 
c. how businesses can make the most profits.
d. how businesses can sell the most products.

The correct answer is: how businesses can decide on the best use of scarce resources.

, Question 2 Correct 1.00 points out of 1.00  Back to Top
Managerial economics:

Select one:
a. describes how pay for managers is set.
b. explains which products consumers will buy.
c. helps managers make decisions in the face of scarcity. 
d. ensures managers always make good decisions.

The correct answer is: helps managers make decisions in the face of scarcity.

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