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Need expert tutor of Managerial Economics who can answer quizzes 100% correctly, two attempt are allowed, 20 questions in each attempt. In each attempt there will be same or new 20 questions.
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Managerial Economics
Flag question: Question 1
Question 1 pts
Problem solving is
Group of answer choices
firing whomever is responsible for mistakes.
performing marginal cost-benefit analysis.
calculating the profits of an auction house.
the reduction of problems to a bad decision and then figuring out who made the decision and why they made the decision.
Flag question: Question 2
Question 1 pts
The rational actor paradigm is characterized by all of the following except:
Group of answer choices
The assumption people act rationally.
The assumption people act optimally.
The assumption people act in their self-interest.
The assumption people act in a group’s best interest.
Flag question: Question 3
Question 1 pts
In economics, changing incentives changes
Group of answer choices
the technical costs associated with production within a firm.
the productive capacity of the physical capital within a firm.
the behavior of people within a firm.
the entire industry that a firm is within.
Flag question: Question 4
Question 1 pts
The rational actor paradigm is a tool for analyzing behavior and a good way to live your life.
Group of answer choices
True
False
Flag question: Question 5
Question 1 pts
The difference between Capitalism and Socialism is that:
Group of answer choices
Capitalism is concerned more about how to slice up the economic “pie.”
Socialism is concerned with making the economic “pie” as large as possible.
Capitalism is concerned with making the economic “pie” as large as possible.
Capitalism is concerned with slicing up the economic “pie” while socialism is concerned with making the “pie” as large as
possible.
Flag question: Question 6
Question 1 pts
Transactions that are __________ create wealth by letting people follow __________.
Group of answer choices
regulated; their self-interest
mandated; the societal good
voluntary; their self-interest
socialized; the societal good
Flag question: Question 7
Question 1 pts
A buyer values a house at $525,000 and a seller values the same house at $485,000. If sales tax is 8% and is levied on the
buyer, then what would be the highest price that the buyer would be willing to pay?
Group of answer choices
$525,000
$523,800
$485,000
$486,111
Flag question: Question 8
Question 1 pts
The biggest advantage of capitalism is that
Group of answer choices
it generates wealth with the help of government intervention.
prices hinder in moving assets from high-value to low-value uses.
it forces involuntary exchanges.
it creates wealth by letting people follow their own self-interests.
Flag question: Question 9
Question 1 pts
Variable costs are
Group of answer choices
costs that vary with output.
not important in decision making.
costs that do not vary with output.
equal to total costs.
Flag question: Question 10
Question 1 pts
Griffith Silver operates a silver mine in a remote part of a developing nation. The mine was financed by a royalty
company, so Griffith Silver must pay $1.50 for each ingot of silver to the royalty company. In addition, Griffith Silver
requires $2.50 of labor and $3.25 of materials for each ingot. The local government collects a tax of $20,000 from Griffith
Silver each month. Last month, Griffith Silver produced 13,000 ingots of silver. What was the fixed cost of producing the
13,000 ingots of silver?
Group of answer choices
$94,250
$114,250
$74,750
$20,000
Flag question: Question 11
Question 1 pts
Fixed costs are
Group of answer choices
costs that vary with output.
always equal to marginal costs.
costs that do not vary with output.
equal to total costs.
Flag question: Question 12
Question 1 pts
A business incurs the following costs per unit: Labor $5/unit; Materials $3/unit and rent $5000/month. If the
firm produces 1000 units a month, the total cost equals
Group of answer choices
$5,000.
$8,000.
$13,000.
$3,000.
Flag question: Question 13
Question 1 pts
Total cost divided by the number of units produced is called
Group of answer choices
marginal cost.
average cost.
total cost.
variable cost.
Flag question: Question 14
Question 1 pts
Total costs increase from $1,500 to $1,800 when a firm increases output from 40 to 50 units. Which of the following is
true?
Group of answer choices
VC rise by $300
VC rise by $1,800
VC rise by $1,500
VC rise by $0
Flag question: Question 15
Question 1 pts
Average cost of production is
Group of answer choices
total variable cost divided by total units produced.
total fixed cost divided by total units produced.
total cost divided by total units produced.
equal to marginal cost.
Flag question: Question 16
Question 1 pts
A manager of a clothing firm is deciding whether to add another factory in addition to one already in production. The
manager would compare
Group of answer choices
the total revenue gained from the two factories to the total costs of running the two factories.
the marginal revenue expected from the second factory to the total costs of running the two factories.
the marginal revenue expected from the second factory to the marginal cost of the second factory.
the total revenue gained from the two factories to the marginal costs of running the two factories.
Flag question: Question 17
Question 1 pts
What is the present value of the following stream of payments: $250 in the current year, $275 one year from now, $315
two years from now, and $500 three years from now? Assume an interest rate of 5%. Round to the nearest cent.
Group of answer choices
$930.81
$1,229.54
$1,170.99
$1,340.00
Flag question: Question 18
Question 1 pts
The lower the interest rates
Group of answer choices
the more value individuals place on future dollars.
the less value individuals place on future dollars.
less investments will take place.
does not affect the investment strategy.
Flag question: Question 19
Question 1 pts
If GDP is expected to increase at a steady rate of 3% per year, how many years would it take for living standards to
double?
Group of answer choices
10
20
24
30
Flag question: Question 20
Question 1 pts
According to the Net Present Value (NPV) rule, managers choose to invest if
Group of answer choices
the NPV of the project is less than zero.
the NPV of the project is greater than zero.
the NPV of the project is equal to zero.
the NPV of the project is equal to the cost of capital.
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