MANAGERIAL ECONOMICS AND STRATEGY EXAM
QUESTIONS AND ANSWERS 100% CORRECT!!
, Which of the following is an implicit cost of attending G300?
-Tuition
-Utility of taking a nap
-Cost of books and supplies
-One hour and fifteen minutes - ANSWER utility of taking a nap
Accounting profits are:
- total revenue minus total cost
-total cost minus total revenue
-marginal revenue minus total cost
-total revenue minus marginal cost - ANSWER total revenue minus total cost
Economic profits are:
- total revenue minus total opportunity cost
- total revenue minus total cost
-marginal revenue minus marginal cost
-total profits of the economy as a whole - ANSWER total revenue minus total
opportunity cost
Which of the following are signals to the owners of scarce resources about the best
uses of those resources?
- Economic indicators
- Profits of businesses
- Government regulations
- The accounting cost of those resources - ANSWER profits of businesses
If you put $5,000 in a savings account at an interest rate of 5 percent, how much money
will you have in one year?
- $4,545
- $4,762
- $5,250
- $5,500 - ANSWER $5,250
In order to maximize net benefits, firms should produce where:
- marginal benefits equal marginal costs
- profits are zero
- total benefits equal total costs
- marginal cost is minimizes - ANSWER marginal benefits equal marginal costs
the law of demand states that, holding all else constant:
QUESTIONS AND ANSWERS 100% CORRECT!!
, Which of the following is an implicit cost of attending G300?
-Tuition
-Utility of taking a nap
-Cost of books and supplies
-One hour and fifteen minutes - ANSWER utility of taking a nap
Accounting profits are:
- total revenue minus total cost
-total cost minus total revenue
-marginal revenue minus total cost
-total revenue minus marginal cost - ANSWER total revenue minus total cost
Economic profits are:
- total revenue minus total opportunity cost
- total revenue minus total cost
-marginal revenue minus marginal cost
-total profits of the economy as a whole - ANSWER total revenue minus total
opportunity cost
Which of the following are signals to the owners of scarce resources about the best
uses of those resources?
- Economic indicators
- Profits of businesses
- Government regulations
- The accounting cost of those resources - ANSWER profits of businesses
If you put $5,000 in a savings account at an interest rate of 5 percent, how much money
will you have in one year?
- $4,545
- $4,762
- $5,250
- $5,500 - ANSWER $5,250
In order to maximize net benefits, firms should produce where:
- marginal benefits equal marginal costs
- profits are zero
- total benefits equal total costs
- marginal cost is minimizes - ANSWER marginal benefits equal marginal costs
the law of demand states that, holding all else constant:
