Ecn601 topic 2 - Study guides, Class notes & Summaries

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ECN 601 Topic 8 Exam 2 (40 Multiple Choice)
  • ECN 601 Topic 8 Exam 2 (40 Multiple Choice)

  • Exam (elaborations) • 14 pages • 2023
  • Available in package deal
  • 1. Question:Forjointlyownedsubstituteproducts,cannibalizationleads toMR MC. 2. Question:Use the table provided to answer the following question. If the groups are of equal size andthe firm can onlysetoneprice,howshould the firmpricethehigh-end wok? 3. Question:TheoptimalstrategyinaVickeryauctionisto: 4. Question:Whichofthefollowingisascreenagainstadverseselection? 5. Question:The general rule to increase profits when two close complementary brands are jointly ownedis: 6. Question:Indirectpr...
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ECN 601 Topic 8 Exam 2 (40 Multiple Choice)
  • ECN 601 Topic 8 Exam 2 (40 Multiple Choice)

  • Exam (elaborations) • 14 pages • 2023
  • 1. Question:Indirectpricediscrimination differsfromdirectprice discriminationbecause: 2. Question:What is it called when each additional worker hired contributessuccessively smalleramountsofoutput? 3. Question:Jim has a better chance of having his offer accepted, since the seller doesnothaveanyoutsideoffers. 4. Question:For a production function with a diminishing, but positive, marginal productoflabor: 5. Question:Nashequilibriumis: 6. Question:Moralhazardimpliesthat: 7. An HVAC company i...
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ECN 601 Topic 8 Exam 2
  • ECN 601 Topic 8 Exam 2

  • Exam (elaborations) • 8 pages • 2023
  • Available in package deal
  • 1. Question:TheoptimalstrategyinaVickeryauctionisto: 2. Question:Tomwantstoavoidanyaccidentsontheworkfloorofhisfactory.Ifanaccidentdoesoccur,itwouldcosthim $500,000 in damages. Installing safety equipment would decrease the probability of an accidentoccurring from 20% to 10%. However, the equipment costs $20,000 to install. What is his expected lossafterinstalling thesafetyequipment? 3. Question:Whichofthefollowingisaviolationofantitrustlaws? 4. Question:Whatisitcalledwheneachadditionalworker...
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ECN 601 Topic 8 Exam 2 (40 MCQs)
  • ECN 601 Topic 8 Exam 2 (40 MCQs)

  • Exam (elaborations) • 10 pages • 2023
  • 1. Question:Forjointlyownedsubstituteproducts,cannibalizationleads toMR MC. 2. Question:Use the table provided to answer the following question. If the groups are of equal size andthe firm can onlysetoneprice,howshould the firmpricethehigh-end wok? 3. Question:TheoptimalstrategyinaVickeryauctionisto: 4. Question:Whichofthefollowingisascreenagainstadverseselection? 5. Question:The general rule to increase profits when two close complementary brands are jointly ownedis: 6. Question:Indirectpr...
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ECN 601 Topic 8 Exam 2
  • ECN 601 Topic 8 Exam 2

  • Exam (elaborations) • 8 pages • 2023
  • 1. Question:TheoptimalstrategyinaVickeryauctionisto: 2. Question:Tomwantstoavoidanyaccidentsontheworkfloorofhisfactory.Ifanaccidentdoesoccur,itwouldcosthim $500,000 in damages. Installing safety equipment would decrease the probability of an accidentoccurring from 20% to 10%. However, the equipment costs $20,000 to install. What is his expected lossafterinstalling thesafetyequipment? 3. Question:Whichofthefollowingisaviolationofantitrustlaws? 4. Question:Whatisitcalledwheneachadditionalworker...
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ECN 601 Topic 2 Problems; Chapters 4, 5, 6
  • ECN 601 Topic 2 Problems; Chapters 4, 5, 6

  • Other • 6 pages • 2023
  • Available in package deal
  • Chapter 4 1. Question: Memorial Hospital's CEO conducted performance reviews of the hospital’s departments and discovered that the average cost of deliveries ($5,000) was above their average revenue, and that the hospital was losing $700 on each delivery. From the information on how much the hospital is losing on deliveries, what is the change in profit for each extra delivery? 2. Question: Georgetown Public Media is trying to determine the optimum amount for its advertising budget. Calcula...
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ECN 601 Topic 2 Problems; Chapters 4, 5, 6
  • ECN 601 Topic 2 Problems; Chapters 4, 5, 6

  • Other • 6 pages • 2023
  • Chapter 4 1. Question: Memorial Hospital's CEO conducted performance reviews of the hospital’s departments and discovered that the average cost of deliveries ($5,000) was above their average revenue, and that the hospital was losing $700 on each delivery. From the information on how much the hospital is losing on deliveries, what is the change in profit for each extra delivery? 2. Question: Georgetown Public Media is trying to determine the optimum amount for its advertising budget. Calcula...
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ECN 601 Topic 8 Exam 2 (40 MCQs)
  • ECN 601 Topic 8 Exam 2 (40 MCQs)

  • Exam (elaborations) • 10 pages • 2023
  • Available in package deal
  • 1. Question:Forjointlyownedsubstituteproducts,cannibalizationleads toMR MC. 2. Question:Use the table provided to answer the following question. If the groups are of equal size andthe firm can onlysetoneprice,howshould the firmpricethehigh-end wok? 3. Question:TheoptimalstrategyinaVickeryauctionisto: 4. Question:Whichofthefollowingisascreenagainstadverseselection? 5. Question:The general rule to increase profits when two close complementary brands are jointly ownedis: 6. Question:Indirectpr...
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ECN 601 Topic 4 DQ 2
  • ECN 601 Topic 4 DQ 2

  • Other • 3 pages • 2023
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  • Topic 4DQ2 Feb23-27,2023 Whatisthecorrelationbetween,andevidencebehind,marketconcentrationandpricelevels?Doyoufindanyrelationshipbetweenlackofcompetitionandothereconomicvariables?UseatleastonearticlefromTheWallStreetJournal,oranotherscholarlyreference,tosupportyourresponse.Whataretheethicalramificationsofmarketconcentration?
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ECN 601 Topic 4 DQ 1 plus DQ 2
  • ECN 601 Topic 4 DQ 1 plus DQ 2

  • Other • 4 pages • 2023
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  • Topic 4DQ1 Feb23-25,2023 Identifyapersonaleconomicdecisionthatwasdrivenbyabehavioralbiasratherthanbypurerationalbehavior.Givenyourunderstandingofbehavioraleconomics,howwouldyourdecisiondiffertoday? Topic 4DQ1 Feb23-25,2023 Identifyapersonaleconomicdecisionthatwasdrivenbyabehavioralbiasratherthanbypurerationalbehavior.Givenyourunderstandingofbehavioraleconomics,howwouldyourdecisiondiffertoday?
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