2008 MCE Quiz 3-04--Answers

2008 MCE Quiz - Managing in Complex Environments QUIZ#3 Name_Answers Spring semester 2007 Professor Atkin My lecture time is Score =(Raw 9 AVG =

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Managing in Complex Environments    QUIZ #3          Name:________ Answers ______________________ Spring semester, 2007 Professor Atkin My lecture time is: _____ Score = (Raw*#)+9 AVG = 82.5 Please Note:  I made several wording corrections on the quiz in class. This closed-book, closed-note quiz has 35 3-point questions to be answered on optical scan sheets.  To get a  grade, you must return (a) the quiz, (b) the answer sheet, and (c) the peer evaluation. Good luck! 1. Prices in oligopoly…   B a. are virtually identical over firms since the product is homogenous b. often appear to be collusive c. both of the above d.   none of the above 2. Explicit collusion is most likely to occur in…   B a. perfect competition b. oligopoly c. monopoly d. equally likely in all three 3. In theory and in practice there are no constraints on the pricing policy of…   D a. monopolists b. first movers c. both of the above d. none of the above 4. Firms prefer excess rents in all markets in which they participate. B a. true  b. false 5. Tuition at Pitt increases more or less each year, yet the number and quality of applicants generally goes  up.  From this we can conclude…   A a. annual increase in tuition is generally revenue enhancing b. over the range observed, tuition is price elastic c. both of the above d.  none of the above  6. Recent data observes that, compared to February 2007, US sales of existing (not brand new) houses in 
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This note was uploaded on 06/25/2008 for the course BUSSPP MCE taught by Professor Atkins during the Spring '08 term at Pittsburgh.

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2008 MCE Quiz - Managing in Complex Environments QUIZ#3 Name_Answers Spring semester 2007 Professor Atkin My lecture time is Score =(Raw 9 AVG =

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