A+ Answers of the following Questions

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1. if a monopolist has a straight-line demand curve, then its marginal revenue curve will:
be the same as the demand curve.
fall twice as quickly as the demand curve.
lie below the demand curve at all points.
cross the demand curve.


2. As long as total utility is increasing, we know that marginal utility is:
positive.
decreasing.
increasing.
negative.


3. A key reason that our gasoline prices elevated rapidly from 2006 to 2008 was:
tight global supplies and high prices.
the war in the Middle East.
greed by oil exporting countries.
inflation.

1. in order for real wages to grow:
productivity must grow.
productivity must fall.
money wages must grow.
money wages must fall.



2. The substitution effect and the output effect work in the:
same direction some of the time.
same direction all of the time.
opposite direction some of the time.
opposite direction all of the time.


3. The law of demand holds for:
individuals, but not for markets.
markets, but not for individuals.
both individuals and for markets.
neither individuals nor for markets.

1. A firm will maximize its profits or minimize its loss at the output where:
the difference between price and marginal cost is at its maximum.
total cost equals total revenue.
marginal cost equals marginal revenue.
total revenue equals variable cost.

2. in order for real wages to grow:
productivity must grow.
productivity must fall.
money wages must grow.
money wages must fall.



3. Which of the following is NOT demonstrated by a production possibility curve?
Scarcity
Opportunity cost
Necessity for choice due to scarcity
Price

Question:

Select a product with which you are familiar. What stage is your selected product at in the product life cycle? Provide rationale for your answer. Based on your knowledge of the product life cycle, what types of changes will occur to your selected product as it continues through the product life cycle? How will this affect the marketing of your selected product?

1. State the name of the property illustrated
6+[4+(-3)] = (6+4)+(-3)
A. Commutative property of addition
B. Associative property of multiplication
C. Associative property of addition
D. Commutative property of multiplication



2. Name the property illustrated by the true statement
-9(y+5) = -9 .y+(-9) .5
A. Distributive property
B. Associative property of multiplication
C. Commutative property of multiplication
D. Associative property of addition 

 


3. 72 is a factor of 8
A. True
B. False

    • 10 years ago
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