MC - Name: Score: 0 / 60 points (0%) MBA5002 Practice Final...

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Name: Score: 0 / 60 points (0%) MBA5002 Practice Final Multiple Choice Identify the choice that best completes the statement or answers the question. Fill in the appropriate box on the answer sheet; do not check or “x” the box. 1. If average profit increases with output marginal profit must be: ANSWER: 2. The amount paid is: ANSWER: 3. When government-run enterprise is sold to the private sector, this process is known as: a. decreasing. b. greater than average profit. c. less than average profit. d. increasing. B POINTS: 0 / 1 a. b. c. d. A POINTS: 0 / 1 a. b. c. d.
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ANSWER: 4. With inelastic demand, a price increase produces: ANSWER: 5. At the socially efficient price-output level: ANSWER: 6. In long-run equilibrium, monopoly prices are set a level where: ANSWER: 7. The standard deviation of the dependent Y variable after controlling for all X variables is the: A POINTS: 0 / 1 a. b. c. d. A POINTS: 0 / 1 a. b. c. d. D POINTS: 0 / 1 a. b. c. d. A POINTS: 0 / 1
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ANSWER: 8. Arc elasticity is measured: ANSWER: 9. A monopolist maximizes profits by producing a level of output where: ANSWER: 10. Adam Smith's belief that the pursuit of self-interest by individuals leads to social betterment is called the: ANSWER: a. b. c. d. D POINTS: 0 / 1 a. b. c. d. C POINTS: 0 / 1 a. b. c. d. B POINTS: 0 / 1 a. b. c. d. C POINTS: 0 / 1
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11. If two services provide the same amount of satisfaction or utility, the consumer is said to display: ANSWER: 12.
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MC - Name: Score: 0 / 60 points (0%) MBA5002 Practice Final...

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