2008ps1

2008ps1 - BUAD 351 Economic Analysis for Business Decisions...

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BUAD 351 - Economic Analysis for Business Decisions Homework 1 due: Wed 01/30/2008 PART (i): multiple choice please provide the answers in the following box: question answer 1 2 3 4 5 6 7 8 9 10 c. both (a) and (b) d. none of the above 2. The statement that ²self-interest is an important motivation for decision-making³is a. a positive statement b. a normative statement 3. Models are an essential component of economic analysis. To be useful, a model must: a. have realistic assumptions b. produce predictions that are 100% accurate c. address all aspects of the situation d. none of the above 4. Only one thing can cause a movement along the demand curve (instead of a shift in the de- mand curve): a. change in the price of the product shown in the demand graph (the product´s own price)
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This note was uploaded on 07/23/2008 for the course BUAD 351 taught by Professor Eastin during the Spring '07 term at USC.

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2008ps1 - BUAD 351 Economic Analysis for Business Decisions...

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