• ECO 365 Final Exam

    ECO 365 Final Exam

      1) If average movie ticket prices rise by about 5 percent and attendance falls by about 2 percent, other things being equal, the elasticity of demand for movie tickets is about: A. 0.0 B. 0.4 C. 0.6 D. 2.5   2) A basic difference...

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  • ECO 372 Final Exam

    ECO 372 Final Exam

      1. The market where business sell goods and services to households and the government is called A. goods market B. factor market C. capital market D. money market   2. Real gross domestic product is best defined as A. the market value...

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  • ECO 550 Final Exam Set 1

    ECO 550 Final Exam Set 1

      1) The degree of operating leverage is equal to the ____ change in ____ divided by the ____ change in ____. A). percentage; sales; percentage; EBIT B). unit; sales; unit; EBIT C). Percentage; EBIT; percentage; sales D). unit; EBIT; unit;...

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  • ECO 550 Final Exam Set 2

    ECO 550 Final Exam Set 2

      1.If two small perfectly competitive firms merge, the merged firm will be:   A.a price-taker. B.a market leader. C.a price-discriminator. D.an oligopoly.   2.In a market characterized by many buyers and one seller, investment in...

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  • ECO 550 Final Exam Set 3

    ECO 550 Final Exam Set 3

      1. Evidence from empirical studies of short-run cost-output relationships lends support to the:         2. Break-even analysis usually assumes all of the following except: 3. In determining the shape of the cost-output...

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  • ECO 550 Final Exam Set 4

    ECO 550 Final Exam Set 4

      1). In the absence of any legally binding enforcement mechanism, individual cartel producers may find it advantageous to cheat on the agreements and engage in secret price concessions. A.true B.false 2). When a promisor fails to put full...

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  • ECO 561 Final Exam

    ECO 561 Final Exam

      1) If a firm in a purely competitive industry is confronted with an equilibrium price of $5, its marginal revenue: A. will be greater than $5 B. will also be $5 C. will be less than $5 D. may be either greater or less than $5   2) A...

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