Long run profits - Study guides, Class notes & Summaries
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Revenue Management Final Exam Question & Answers 2022
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what is the industry term used to describe the sum of prices paid by a business's customers? 
 
-daily receipts 
 
-profit 
 
-profits less expenses 
 
-total revenues 
-total revenues 
 
 
 
historically, what concept have hospitality managers chiefly used to calculate their selling prices? 
 
-income 
 
-revenue 
 
-costs 
 
-profits 
-costs 
 
 
 
what is an algebraic equivalent of the formula: sales=costs+profit? 
 
-profit=sales-costs 
 
-costs=sales+profits 
 
-costs=profit-sales 
 
-prof...
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WGU C211 Global Economics for Managers Quiz Bank |More than 300 Questions and Verified Answers| 100% Correct (Latest 2023/ 2024)
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WGU C211 Global Economics for Managers 
Quiz Bank |More than 300 Questions and 
Verified Answers| 100% Correct (Latest 
2023/ 2024) 
 
QUESTION 
Monopolistic competition is characterized by: 
 
 
Answer: 
 Ease of market entry and exit. 
 
 
QUESTION 
An incentive to advertise exists for monopolistically competitive firms because: 
 
 
Answer: 
 The products they sell are differentiated. 
 
 
QUESTION 
Monopolistic competition is characterized by: 
 
 
Answer: 
 Many firm...
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ETS MFT BUSINESS EXAM | Answered Correctly! Summer 2022-23.
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ETS MFT BUSINESS EXAM 
 
The principal difference between variable costing and absorption costing centers on: 
 
a) whether variable manufacturing costs should be included as product costs 
 
b) whether fixed manufacturing costs should be included as product costs 
 
c) whether fixed manufacturing costs and fixed selling and administrative costs should be included as product costs 
 
d) none of these. 
 
General Bikes is debating which marketing research options to employ. The traditional p...
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ECON 201 Final Exam | Questions with complete solutions
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ECON 201 Final Exam | Questions with complete solutions A profit-maximizing firm will: A. expand employment if marginal revenue product equals marginal resource cost. B. reduce employment if marginal revenue product equals marginal resource cost. C. reduce employment if marginal revenue product is less than marginal resource cost. D. expand employment if marginal revenue product is less than marginal resource cost. Which of the following describes the equilibrium condition in a purely competit...
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Michigan Residential Builder's License Test With Correct Solution
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What is the 1st offense penalty for engaging in the practice of residential building without a license? - Answer Not less than $5K and not more than $25K and/or 1 year 
 
What is the penalty for engaging in the practice of residential building, resulting in a death? - Answer Not less than $5K and not more than $50K and/or 4 years 
 
On your individual builder's license application, what should you write as your "business address"? - Answer Your personal address 
 
What is the cost of the indi...
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ECN 211: Final Exam Questions & Revised Correct Answers Latest Update | Already Passed!!
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ECN 211: Final Exam Questions & 
Revised Correct Answers 
Latest Update | Already Passed!! 
Real GDP is commonly used for what? - ANSWER : 
Short run changes. 
When real GDP falls, so does what? - ANSWER : - 
Personal income 
- Corporate profits 
- Consumer spending 
- Investment spending 
- Industrial production 
When the overall economy declines that is due to what? - 
ANSWER : - Reduction in spending in factories 
- Housing 
- Inventory 
When real GDP declines, what happens to the 
une...
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MQM 220 Final Exam Review Question and answers rated A+
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MQM 220 Final Exam Review Question and answers rated A+ meeting economic and legal responsibilities and no more - correct answer social obligation 
 
the capacity of a firm to adapt to changing societal conditions - correct answer social responsiveness 
 
a firm's obligation, beyond that required by the law and economics, to pursue long-term goals that are good for society - correct answer social responsibility 
 
What is a social responsibility, and why would an organization's managers ...
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CMN 140 Exam1, CMN 140 Exam 2, CMN 140 Final 194 Questions with Verified Answers,100% CORRECT
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CMN 140 Exam1, CMN 140 Exam 2, CMN 140 Final 194 Questions with Verified Answers 
 
"Hardware" vs "Software" of the brain - CORRECT ANSWER *Hardware:* 
-Biological organ of communication 
-Computation is processed in gray matter -> e.g. how info is processed in the brain 
-Info is transmitted via white matter 
 
*Software:* 
-The brain gives rise to the mind 
-Some programs are innate (e.g. capacity for language) 
-Some are learned (e.g. English language) 
 
*There is a deep physical conn...
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FAC1601 EXAM PACK 2023
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FAC1601-Exam-Pack - Exam pack 
Financial Accounting and Reporting (University of South Africa) 
lOMoARcPSD| 
Financial Accounting 1B 
Study & Exam Pack for FAC1601 © 2014 
This is prepared for UNISA undergraduate students undertaking the module FAC1601. The past exam 
papers used as a way of practicing the concept emphasized in the study guide for this module 
Compiled by Levison Kamanga (check his profile on ), for and on behalf of 
“Inspired to impact with a difference” 
All the que...
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BUSML 3250 Exam 1 Questions and Answers with Verified Solutions
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BUSML 3250 Exam 1 Questions and 
Answers with Verified Solutions 
 
What is marketing? The process by which companies create value for customers and build 
strong customer relationships in order to capture value from customers in return 
 
Marketing Process 1st 4 steps create value for customers, last step captures value from 
customers 
Understand marketplace and customer needs and wants 
Design a customer-driven marketing strategy 
Construct an integrated marketing program that delivers superi...
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