Chat with us, powered by LiveChat MBA 5004 Managerial EconomicsWeek 1 Knowledge Chec - Writemia

MBA 5004 Managerial EconomicsWeek 1 Knowledge Chec

MBA 5004 Managerial EconomicsWeek 1 Knowledge CheckQuestion 1 Managers need to consider various questions regarding the benefits and costs of a particular activity or investment before they make any decisions for the company.Question 1 options:TrueFalseQuestion 2 Managers need not consider risk in the decision-making process.Question 2 options:TrueFalseQuestion 3 There are several basic relationships in economic theory, such as supply and demand or costs and revenues.Question 3 options:TrueFalseQuestion 4 The demand side of the market shows how sellers behave.Question 4 options:TrueFalseQuestion 5 For most goods and services, as the price decreases, the demand for the goods increases.Question 5 options:TrueFalseMBA 5004 Managerial EconomicsWeek 2 Knowledge CheckQuestion 1 A measure of responsiveness used in demand analysis is elasticity.TrueFalseQuestion 2 Factors such as price, product quality, and advertising that are out of the control of the firm are endogenous variables.TrueFalseQuestion 3 CVP analysis is referred to as the breakeven analysis.TrueFalseQuestion 4 A basic CVP model shows fixed costs at a certain level, with variable costs increasing at a given rate as the output increases.TrueFalseQuestion 5 Management can also apply a CVP analysis to determine the amount of operating leverage it decides to employ.TrueFalseMBA 5004 Managerial EconomicsWeek 3 Knowledge CheckQuestion 1 In perfect competition, so many companies deal in the same good or service that a single company does not have any influence over the price of the good or service.Question 1 options:TrueFalseQuestion 2 An oligopoly is a market structure that provides most of the goods in consumer markets.Question 2 options:TrueFalseQuestion 3 In a monopoly, there are only five companies in the market and that company has complete control over the price and output level.Question 3 options:TrueFalseQuestion 4 Positive externalities are situations in which a third party benefits from a transaction between some other parties.Question 4 options:TrueFalseQuestion 5 Negative externalities are situations in which part of the cost of providing a good or a service is borne by a third party to the transaction.Question 5 options:TrueFalseMBA 5004 Managerial EconomicsWeek 4 Knowledge CheckQuestion 1 A monopoly is a market structure in which there is only one seller of a unique product.Question 1 options:TrueFalseQuestion 2 Although not all companies are monopolies, many possess monopoly power to some degree in the market because of the nature of their products.Question 2 options:TrueFalseQuestion 3The pricing and output decisions of monopolists are the same as those of a competitive companyQuestion 3 options:TrueFalseQuestion 4Antitrust laws are designed to prevent companies from using their market power against consumers and other companies.Question 4 options:TrueFalseQuestion 5 Larger companies enjoy economies of scale, achieving higher unit costs and a higher per-unit price.Question 5 options:TrueFalseMBA 5004 Managerial EconomicsWeek 5 Knowledge CheckQuestion 1The capital-budgeting process is a set of procedures designed to incorporate as many variables as possible when making short-term planning decisions.Question 1 options:TrueFalseQuestion 2Management must use the capital-budgeting process to identify new opportunities available to the company and to correct inefficiencies.Question 2 options:TrueFalseQuestion 3There are 7 major steps in the capital-budgeting process.Question 3 options:TrueFalseQuestion 4Market failure is a situation in which a competitive market does not allocate enough resources or allocates too many resources for the production of certain goods and services.Question 4 options:TrueFalseQuestion 5More government involvement in the marketplace results in fewer decisions being made by the managers of private enterprises.Question 5 options:TrueFalse

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