Economics Test unit 1
1.The goal of a business is to .
A) satisfy the customer
B) make money
C) maximize profits
D) expand market share
2.The goal of a business is measured by.
A) Return on investment
B) Profits in dollars
MicroEcon Test 2
C) increase the quantity demanded by about 25 percent.
D) increase the quantity demanded by about 250 percent.
The price elasticity of demand coefficient measures:
A) buyer responsiveness to price changes.
Micro Chapter 26 Practice Problems #1
1. The wage rate is:
A) the total revenue minus the total cost of the firm.
B) the marginal revenue minus the marginal cost of the firm.
C) the price paid per unit of capital goods.
D) the price paid per unit of labor