Published: 2021-08-15 00:25:08

Category: Finance

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The new frequency recommendation was designed to address the family histories of the patients. The optimal frequency should be where the marginal benefit of an additional pap-test: Answer Selected Answer: equals the marginal cost of the test Correct Answer: equals the marginal cost of the test
Correct Answer: coefficient of variation; standard deviation; expected value Question 8 5 out of 5 points The net present value of an investment represents Answer Selected Answer: the expected contribution of that investment to the goal of shareholder wealth maximization Correct Answer: the expected contribution of that investment to the goal of shareholder wealth maximization Question 9 5 out of 5 points Suppose we estimate that the demand elasticity for fine leather jackets is ?. 7 at their current prices. Then we know that: Answer Selected Answer: a 1% increase in price reduces quantity sold by . 7%.
Correct Answer: a 1% increase in price reduces quantity sold by . 7%. Question 10 5 out of 5 points Marginal revenue (MR) is ____ when total revenue is maximized. Answer Selected Answer: equal to zero Correct Answer: equal to zero Question 11 5 out of 5 points Those goods having a calculated income elasticity that is negative are called: Answer Selected Answer: inferior goods Correct Answer: inferior goods Question 12 5 out of 5 points An income elasticity (Ey) of 2. 0 indicates that for a ____ increase in income, ____ will increase by ____. Answer Selected Answer: one percent; quantity demanded; two percent
Correct Answer: one percent; quantity demanded; two percent Question 13 0 out of 5 points The method which can give some information in estimating demand of a product that hasn’t yet come to market is: Answer Selected Answer: the barometric method Correct Answer: the consumer survey Question 14 5 out of 5 points When using a multiplicative power function (Y = a X1b1 X2b2 X3b3) to represent an economic relationship, estimates of the parameters (a, and the b’s) using linear regression analysis can be obtained by first applying a ____ transformation to convert the function to a linear relationship.
Answer Selected Answer: double-logarithmic Correct Answer: double-logarithmic Question 15 0 out of 5 points The standard deviation of the error terms in an estimated regression equation is known as: Answer Selected Answer: coefficient of determination Correct Answer: standard error of the estimate Question 16 5 out of 5 points One commonly used test in checking for the presence of autocorrelation when working with time series data is the ____. Answer Selected Answer: Durbin-Watson test Correct Answer: Durbin-Watson test Question 17 5 out of 5 points
The variation in an economic time-series which is caused by major expansions or contractions usually of greater than a year in duration is known as: Answer Selected Answer: cyclical variation Correct Answer: cyclical variation Question 18 5 out of 5 points If two alternative economic models are offered, other things equal, we would Answer Selected Answer: select the model that gave the most accurate forecasts Correct Answer: select the model that gave the most accurate forecasts Question 19 5 out of 5 points The type of economic indicator that can best be used for business forecasting is the: Answer
The marginal product is defined as: Answer Selected Answer: The incremental change in total output that can be produced by the use of one more unit of the variable input in the production process Correct Answer: The incremental change in total output that can be produced by the use of one more unit of the variable input in the production process Question 27 0 out of 5 points Which of the following is never negative? Answer Selected Answer: slope of the isocost lines Correct Answer: average product Question 28 5 out of 5 points Marginal factor cost is defined as the amount that an additional unit of the variable input adds to ____.
Answer Selected Answer: total cost Correct Answer: total cost Question 29 5 out of 5 points The cost function is: Answer Selected Answer: a schedule or mathematical relationship showing the total cost of producing various quantities of output Correct Answer: a schedule or mathematical relationship showing the total cost of producing various quantities of output Question 30 5 out of 5 points Economies of Scope refers to situations where per unit costs are: Answer Selected Answer: Reduced when two or more products are produced Correct Answer: Reduced when two or more products are produced Question 31 5 out of 5 points
For a short-run cost function which of the following statements is (are) not true? Answer Selected Answer: The marginal cost function intersects the average fixed cost function where the average variable cost function is a minimum. Correct Answer: The marginal cost function intersects the average fixed cost function where the average variable cost function is a minimum. Question 32 5 out of 5 points What method of inventory valuation should be used for economic decision-making problems?

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