Eco 550 Final Exam
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ECO 550 FINAL Exam
1). Evidence from empirical studies of short-run cost-output relationships lends support to the:
2). Break-even analysis usually assumes all of the following except:
3). In determining the shape of the cost-output relationship only ____ depreciation is relevant. Answer
4). In the linear breakeven model, the breakeven sales volume (in dollars) can be found by multiplying the breakeven sales volume (in units) by:
5). A firm in pure competition would shut down when:
Selected Answer: price is less than average variable cost Correct Answer: price is less than average variable cost
6). Buyers anticipate that the temporary warehouse seller of unbranded computer equipment will Answer
7). An "experience good" is one that:
8). …show more content…
Vacation tours to Europe invariably package visits to disparate regions: cities, mountains, and the seaside. Bundling, a type of second degree price discrimination, is most profitable when:
22). Firms that have a cover charge for their customers and charge for each item they purchase as well are exhibiting
23). The optimal mark-up is: m = -1/ (E+1). When the mark-up on cookware equals 50%, then demand elasticity (E) for cookware is:
24). Third-degree price discrimination exists whenever:
25). Governance mechanisms are designed
26). Vertical integration may be motivated by all of the following except:
27). Agency problems appear in many settings within a firm. All of the following are examples, except which is NOT a good example of this problem?
28). Reliant assets are always all of the following except:
29). ____ occurs whenever a third party receives or bears costs arising from an economic transaction in which the individual (or group) is not a direct participant.
30). The lower the barriers to entry and exit, the more nearly a market structure fits the ____ market model.
31). The ____ is equal to the some of the squares of the market shares of all the firms in an
ECO 550 FINAL Exam
1). Evidence from empirical studies of short-run cost-output relationships lends support to the:
2). Break-even analysis usually assumes all of the following except:
3). In determining the shape of the cost-output relationship only ____ depreciation is relevant. Answer
4). In the linear breakeven model, the breakeven sales volume (in dollars) can be found by multiplying the breakeven sales volume (in units) by:
5). A firm in pure competition would shut down when:
Selected Answer: price is less than average variable cost Correct Answer: price is less than average variable cost
6). Buyers anticipate that the temporary warehouse seller of unbranded computer equipment will Answer
7). An "experience good" is one that:
8). …show more content…
Vacation tours to Europe invariably package visits to disparate regions: cities, mountains, and the seaside. Bundling, a type of second degree price discrimination, is most profitable when:
22). Firms that have a cover charge for their customers and charge for each item they purchase as well are exhibiting
23). The optimal mark-up is: m = -1/ (E+1). When the mark-up on cookware equals 50%, then demand elasticity (E) for cookware is:
24). Third-degree price discrimination exists whenever:
25). Governance mechanisms are designed
26). Vertical integration may be motivated by all of the following except:
27). Agency problems appear in many settings within a firm. All of the following are examples, except which is NOT a good example of this problem?
28). Reliant assets are always all of the following except:
29). ____ occurs whenever a third party receives or bears costs arising from an economic transaction in which the individual (or group) is not a direct participant.
30). The lower the barriers to entry and exit, the more nearly a market structure fits the ____ market model.
31). The ____ is equal to the some of the squares of the market shares of all the firms in an