Marginal Cost and Correct Answer free essay sample

The new frequency recommendation was designed to address the family histories of the patients. The optimal frequency should be where the marginal benefit of an additional pap-test: Answer Selected Answer: equals the marginal cost of the test Correct Answer: equals the marginal cost of the test Question 3 5 out of 5 points The flat-screen plasma TVs are selling extremely well. The originators of this technology are earning higher profits. What theory of profit best reflects the performance of the plasma screen makers? Answer Selected Answer: innovation theory of profit Correct Answer: innovation theory of profit Question 4 5 out of 5 points To reduce Agency Problems, executive compensation should be designed to: Answer Selected Answer: create incentives so that managers act like owners of the firm. Correct Answer: create incentives so that managers act like owners of the firm. Question 5 out of 5 points Based on risk-return tradeoffs observable in the financial marketplace, which of the following securities would you expect to offer higher expected returns than corporate bonds? Answer Selected Answer: common stock Correct Answer: common stock Question 6 5 out of 5 points Generally, investors expect that projects with high expected net present values also will be projects wi th Answer Selected Answer: high risk Correct Answer: high risk Question 7 0 out of 5 points The ____ is the ratio of ____ to the ____. We will write a custom essay sample on Marginal Cost and Correct Answer or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Answer Selected Answer: correlation coefficient; standard deviation; expected value Correct Answer: coefficient of variation; standard deviation; expected value Question 8 5 out of 5 points The net present value of an investment represents Answer Selected Answer: the expected contribution of that investment to the goal of shareholder wealth maximization Correct Answer: the expected contribution of that investment to the goal of shareholder wealth maximization Question 9 5 out of 5 points Suppose we estimate that the demand elasticity for fine leather jackets is ?. 7 at their current prices. Then we know that: Answer Selected Answer: a 1% increase in price reduces quantity sold by . 7%. Correct Answer: a 1% increase in price reduces quantity sold by . 7%. Question 10 5 out of 5 points Marginal revenue (MR) is ____ when total revenue is maximized. Answer Selected Answer: equal to zero Correct Answer: equal to zero Question 11 5 out of 5 points Those goods having a calculated income elasticity that is negative are called: Answer Selected Answer: inferior goods Correct Answer: inferior goods Question 12 5 out of 5 points An income elasticity (Ey) of 2. 0 indicates that for a ____ increase in income, ____ will increase by ____. Answer Selected Answer: one percent; quantity demanded; two percent Correct Answer: one percent; quantity demanded; two percent Question 13 0 out of 5 points The method which can give some information in estimating demand of a product that hasn’t yet come to market is: Answer Selected Answer: the barometric method Correct Answer: the consumer survey Question 14 5 out of 5 points When using a multiplicative power function (Y = a X1b1 X2b2 X3b3) to represent an economic relationship, estimates of the parameters (a, and the bs) using linear regression analysis can be obtained by first applying a ____ transformation to convert the function to a linear relationship. Answer Selected Answer: double-logarithmic Correct Answer: double-logarithmic Question 15 0 out of 5 points The standard deviation of the error terms in an estimated regression equation is known as: Answer Selected Answer: coefficient of determination Correct Answer: standard error of the estimate Question 16 5 out of 5 points One commonly used test in checking for the presence of autocorrelation when working with time series data is the ____. Answer Selected Answer: Durbin-Watson test Correct Answer: Durbin-Watson test Question 17 5 out of 5 points The variation in an economic time-series which is caused by major expansions or contractions usually of greater than a year in duration is known as: Answer Selected Answer: cyclical variation Correct Answer: cyclical variation Question 18 5 out of 5 points If two alternative economic models are offered, other things equal, we would Answer Selected Answer: select the model that gave the most accurate forecasts Correct Answer: select the model that gave the most accurate forecasts Question 19 5 out of 5 points The type of economic indicator that can best be used for business forecasting is the: Answer Selected Answer: leading indicator Correct Answer: leading indicator Question 20 5 out of 5 points Which of the following barometric indicators would be the most helpful for forecasting future sales for an industry? Answer Selected Answer: leading economic indicators. Correct Answer: leading economic indicators. Question 21 5 out of 5 points An appreciation of the U. S. dollar has what impact on Harley-Davidson (HD), a U. S. manufacturer of motorcycles? Answer Selected Answer: domestic sales of HD motorcycles decrease and foreign sales of HD motorcycles decrease Correct Answer: omestic sales of HD motorcycles decrease and foreign sales of HD motorcycles decrease Question 22 5 out of 5 points If the British pound (? ) appreciates by 10% against the dollar: Answer Selected Answer: the US importer of British goods will tend to find that their cost of goods rises, hurting its bottom line. Correct Answer: the US importer of British goods will tend to find that their cost of goods rises, h urting its bottom line. Question 23 5 out of 5 points In a recession, the trade balance often improves because Answer Selected Answer: fewer households can afford luxury imports Correct Answer: fewer households can afford luxury imports Question 24 5 out of 5 points Trading partners should specialize in producing goods in accordance with comparative advantage, then trade and diversify in consumption because Answer Selected Answer: more goods are available for consumption Correct Answer: more goods are available for consumption Question 25 5 out of 5 points Marginal revenue product is: Answer Selected Answer: defined as the amount that an additional unit of the variable input adds to the total revenue Correct Answer: defined as the amount that an additional unit of the variable input adds to the total revenue Question 26 5 out of 5 points The marginal product is defined as: Answer Selected Answer: The incremental change in total output that can be produced by the use of one more unit of the variable input in the production process Correct Answer: The incremental change in total output that can be produced by the use of one more unit of the variable input in the production process Question 27 0 out of 5 points Which of the following is never negative? Answer Selected Answer: slope of the isocost lines Correct Answer: average product Question 28 5 out of 5 points Marginal factor cost is defined as the amount that an additional unit of the variable input adds to ____. Answer Selected Answer: total cost Correct Answer: total cost Question 29 5 out of 5 points The cost function is: Answer Selected Answer: a schedule or mathematical relationship showing the total cost of producing various quantities of output Correct Answer: a schedule or mathematical relationship showing the total cost of producing various quantities of output Question 30 5 out of 5 points Economies of Scope refers to situations where per unit costs are: Answer Selected Answer: Reduced when two or more products are produced Correct Answer: Reduced when two or more products are produced Question 31 5 out of 5 points For a short-run cost function which of the following statements is (are) not true? Answer Selected Answer: The marginal cost function intersects the average fixed cost function where the average variable cost function is a minimum. Correct Answer: The marginal cost function intersects the average fixed cost function where the average variable cost function is a minimum. Question 32 5 out of 5 points What method of inventory valuation should be used for economic decision-making problems?