100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
HBS Core - Economics for Manager Exam 2024/2025 Questions With Completed & Verified Solutions. $9.99   Add to cart

Exam (elaborations)

HBS Core - Economics for Manager Exam 2024/2025 Questions With Completed & Verified Solutions.

 1 view  0 purchase
  • Course
  • HBX Core
  • Institution
  • HBX Core

HBS Core - Economics for Manager Exam 2024/2025 Questions With Completed & Verified Solutions.

Preview 1 out of 4  pages

  • August 31, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • HBX Core
  • HBX Core
avatar-seller
LEWIS12
HBS Core - Economics for Manager

A market's equilibrium outcome maximizes __ - ANS Total Surplus. Sum of Producer and
Consumer Surplus

Are auctions more effective when buyers' valuations are within a narrow range? Or when
buyers' valuations are widely spread out? - ANS Auctions are more effective when valuations
are within a narrow range, ensuring that the sale price will be close to the WTP of the second
highest bidder

As a business that exhibits network effects gains market share, buyers' WTP should __ - ANS
Increase. Buyers should be willing to pay more for their products

As more substitute goods become available, price elasticity of demand ___ - ANS Increases.
The more substitute goods are available, the less willing consumers will be to put up with
increases in price

As more substitute goods become available, price elasticity of demand __. Why? - ANS
Increases. The more available are subtitute goods, the less willing consumers will be to put up
with increases in price

As price increases, the price elasticity of demand __? Why? - ANS Increases. The higher the
price, the less willing consumers will be to put up with additional increases in price

As price of a product increase, the price elasiticity of demand for that product ___ - ANS
Increases. The higher the price, the less willing consumers may be to accomodate further
increases in price

At what point in the demand/supply curve do all buyers and all sellers participate in the
transaction? - ANS Market Equilibrium

Businesses that exhibit network effects may experience __ growth - ANS Exponential

Conjoint Analysis - Definition - ANS Specialized survey that determines consumers' preferences
for individual features of a product by first ranking the importance of features and then assigning
values to each product attribute based on those features

Consumer Surplus - ANS Value to Buyers = WTP - Price

Elasticity - Definition & Formula - ANS Measure of the responsiveness in one variable to a
change in another variable.
e = % change in quantity/ % change in price

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller LEWIS12. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $9.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

77016 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$9.99
  • (0)
  Add to cart