HBS Economics For Managers Final Exam
Multiple Choice Review Questions and
Answers 100% Pass | Graded A+
David Mungai [Date] [Course title]
, HBS Economics For Managers Final
Exam Multiple Choice Review Questions
and Answers 100% Pass | Graded A+
Profit is maximized where:
a. marginal revenue equals zero
b. total revenue is maximized
c. marginal profit equals zero
d. marginal cost equals marginal revenue
e. both c and d
f. none of the above - Answer>> E
If your marginal revenue is $19 per unit and your marginal cost is
$11 per unit you should:
a. lower your price
b. raise your price
c. maintain your current price
d. obtain more information; you cannot tell what to do based
solely on this - Answer>> A
Marginal revenue:
a. is the revenue earned from selling an additional unit of the
good or service
b. should be zero i profit is maximized
c. is always equal to the price of a good or service
d. both a and c are correct - Answer>> A
changes in something other than a product's own price causes:
a. quantity demanded to change
b. the demand curve to shift
c. the variable cost of a good to change
d. no change; price is the only thing which matters - Answer>>
B
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