Economics (Econ528)

ECON 528_Midterm_Exam 2018 ECON 528-850 - ECON 528-010- Started on Sunday, 23 September 2018, 8:02 PM State Finished Completed on Sunday, 23 September 2018, 8:37 PM Time taken 34 mins 51 secs Marks 20.00/20.00 Grade 10.00 out of 10.00 (100%) Question 1 Correct Mark 1.00 out of 1.00 Managerial economics Select one: a. helps managers make decisions in the face of scarcity. b. ensures managers always make good decisions. c. describes how pay for managers is set. d. explai...

Econ 528 Midterm Test 2020 – Grade Midterm 1.) A good that is similar to another, and can be consumed in place of it, is called: A.) A complementary good B.) A substitute good C.) An inferior good D.) A normal good 2.) Unlike an accountant, an economist measures costs on a(n) basis. A.) Historical B.) Conservative C.) Explicit D.) Replacement 3.) Scarcity A.) Applies only to people living in poverty B.) Leads to higher prices C.) Used to exist everywhere but has been eliminated in ...

Econ 528 Mid Term Exam_Summer 2022/2023_Manegerial Economics – University of Louisiana Section – A 20 questions x 2 points = 40 points Check the best answer from the choices given for each of the 20 questions below. 1. Total cost minimization occurs at the point where: (a) AC = 0. (b) AC = MC. (c) MC = 0. (d) MC > AC. 2. Average cost minimization occurs at the point where: (a) AC = 0. (b) AC = MC. (c) MC = 0. (d) MC > AC. 3. If the demand function is given by: P =...