logo image

Economics Mcq Essay

The field of economics that is most relevant to the managerial Decision making process is: A. Macroeconomics. B. Microeconomics. C. Labor economics. D. International economics. 4. The profit motive is important because: A. It is the signaling mechanism for the dynamic reallocation of Society’s scarce productive resources. B. It encourages unethical behavior by shareholders. Monopolistic markets. D. It promotes the equitable distribution of income in an Quantitative methods: A. Refer to the tools and techniques of economic analysis. C. It discourages economy. 5. B. Include optimization analysis and statistical methods. C.

Include game theory and capital budgeting. D. All of the above. 6. Economic profit is: A. Total revenue minus total cost. B. Total economic revenue minus total economic cost. C. Total revenue minus total economic cost. D. Total revenue minus total explicit cost. 7. Market processes: A. Rely on the intervention of government regulators to answer Three basic economic questions. B. Summarize the interaction of supply and demand to answer the Three basic C. Are only possible with barter transactions. D. Use custom and tradition to answer the three basic economic questions. 8. Total economic costs is: A. Total out-of-pocket expenses.

Economics Mac By channel 509 C. Total explicit and total

Need essay sample on "Economics Mcq"? We will write a custom essay sample specifically for you for only $ 13.90/page

implicit costs. D. Total accounting costs. 9. In the long run, a profit-maximizing firm will choose to exit a market when A. Fixed costs exceed sunk costs. B. Average fixed cost is rising. C. Revenue from production is less than total costs. D. Marginal cost exceeds marginal revenue at the current level of production. 10. Which of the following is not a property of assonants? A. Assonants never intersect each other. B. Assonants are concave to the origin. C. Assonants slope downwards. D. None of the above. 11. The marginal rate of technical substitution is

A. The rate at which a producer is able to exchange, without affecting the quantity of output produced, a little bit of one input for a little bit of another input. B. The rate at which a producer is able to exchange, without affecting the total cost of inputs, a little bit of one input for a little bit of another input. C. The rate at which a producer is able to exchange, without affecting the total inputs used, a little bit of one output for a little bit of another output. D. A measure of the ease or difficulty with which a producer can substitute one technique of production for another. 12.

A negatively loped Squanto implies A. Products with negative marginal utilities. B. Products with positive marginal utilities. C. Inputs with negative marginal products. D. Inputs with positive marginal products. 13. If a simultaneous and equal percentage decrease in the use of all physical inputs leads to a larger percentage decrease in physical output, a firm’s production function is said to exhibit A. Decreasing returns to scale. B. Constant returns to scale. C. Increasing returns to scale. D. Discomposes of scale. 14. Suppose a firm is using two inputs, labor and capital. What will happen if the price of labor falls?

Can’t wait to take that assignment burden offyour shoulders?

Let us know what it is and we will show you how it can be done!
×
Sorry, but copying text is forbidden on this website. If you need this or any other sample, please register

Already on Businessays? Login here

No, thanks. I prefer suffering on my own
Sorry, but copying text is forbidden on this website. If you need this or any other sample register now and get a free access to all papers, carefully proofread and edited by our experts.
Sign in / Sign up
No, thanks. I prefer suffering on my own
Not quite the topic you need?
We would be happy to write it
Join and witness the magic
Service Open At All Times
|
Complete Buyer Protection
|
Plagiarism-Free Writing

Emily from Businessays

Hi there, would you like to get such a paper? How about receiving a customized one? Check it out https://goo.gl/chNgQy

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy