MgrEconFinal.pdf - Bisk Page 1 of 15 Test Review Amanda...

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Test Review - Amanda OlsonYour test grade is 100%The professor has configured this test to allow students to:Show Questions Answered CorrectlyShow Questions Answered IncorrectlyShow All Responses Selected By StudentShow What The Correct Response Should BeQUESTION:1[QUESTION BANK ID:94992]TYPE:MULTIPLE CHOICECORRECTTen bidders in an oral auction have the following values for an antique clock ($10, $9, $8, $7, $6, $5, $4, $3, $2, $1). If bidders of the $10 and $9 bids collude and bidders of the $3, $4, and $5 bids collude, what will the winning price be? A $10B $8C $6D $5Page 1 of 15Bisk6/24/2018...
QUESTION:2[QUESTION BANK ID:76100]MULTIPLE CHOICECORRECTCompany X produces a single product Y. Company X runs an advertising campaign that they are sure will differentiate product Y from their competitors and make Y more attractive. Assuming they are correct, what will happen to the demand of Y and what pricing strategy should they employ? TYPE:
QUESTION:3[QUESTION BANK ID:17033]TYPE:MULTIPLE CHOICECORRECTA Price lowB Page 2 of 15Bisk6/24/2018...
QUESTION:4[QUESTION BANK ID:4201]TYPE:MULTIPLE CHOICECORRECTIf promotional expenditures make demand A More elastic, then you should reduce price when you promote the productB More elastic, then you should increase price when you promote the productC Less elastic, then you should reduce price when you promote the productD Less inelastic, then you should increase price when you promote the productQUESTION:5[QUESTION BANK ID:26448]TYPE:MULTIPLE CHOICECORRECTPage 3 of 15Bisk6/24/2018...
A 0,0B 10,-10C -10,10D 5,5QUESTION:6[QUESTION BANK ID:31975]TYPE:MULTIPLE CHOICECORRECTAn oral auction with values of $4, $6, $9, $12, $13, and $15 is currently taking place. What will the winning bidder pay? A 10B 11C 13D 15QUESTION:7[QUESTION BANK ID:115641]TYPE:MULTIPLE CHOICE

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