ECN 601 Week 8 Exam 2 (Collection)
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(ECN 601 Week 8 Exam 2)
- Question: The optimal strategy in a Vickery auction is to:
- Question: Tom wants to avoid any accidents on the work floor of his If an accident does occur, it would cost him $500,000 in damages. Installing safety equipment would decrease the probability of an accident occurring from 20% to 10%. However, the equipment costs $20,000 to install. What is his … loss after installing the safety equipment?
- Question: Which of the following is a violation of antitrust laws?
- Question: What is it … when each additional worker … contributes successively smaller amounts of output?
- Question: Which of the following is true?
- Question: For a production function with a diminishing, but positive, marginal product of labor:
- Question: Which of the following is not an example of risk aversion?
- Question: Tom wants to avoid any accidents on the work floor of his If an accident does occur, it would cost him $500,000 in damages. Installing safety equipment would decrease the probability of an accident occurring from 20% to 10%. However, the equipment costs $20,000 to install. Would Tom install the safety equipment?
- Question: In a two-person … game, a tit-for-tat strategy is:
- Question: Viceroy Vacations is deciding on how to price its vacation Which of the following strategies would you suggest?
- Question: Which of the following would not be illegal according to the Robinson-Patman Act?
- Jim has a better chance of having his offer … , since the seller does not have any outside
- Question: Moral hazard implies that:
- Question: For direct price discrimination to work effectively:
- Question: The tradeoff between and is represented as the labor supply
- Question: The general rule to increase profits when two close complementary brands are jointly … is:
- Question: If the VP of a product launch thinks that a particular product would be profitable, but … up launching an unprofitable product, this will be a:
- Question: You experiment by offering free warranties for your product in market A but not in market Sales in Market A rise from 240 to 360 units per week while sales in Market B rise from 410 to 430. The difference-in-difference estimate of the effect of the free warranty is:
- Question: An HVAC company is selling heating and cooling It has separate sales and marketing units. The marketing unit would want to:
- Question: Three possibilities are equally likely and have payoffs of $6, $12, and $24. The … value is:
- Question: In a principal-agent relationship
- Question: For jointly … substitute products, cannibalization leads to MR
- Question: See ECN_601 Exam Notes Use the table … to answer the following If the groups are of equal size and the firm can only set one price, how should the firm price the high-end wok?
- Question: Use the table … to answer the following If the firm decides to only offer the high-end wok, what is the highest price it can charge the chefs?
- Question: The pricing rule MR=MC holds for:
- Question: Half of all your potential customers would pay $10 for your product, but the other half would only pay $8. You cannot tell them Your marginal costs are $4. If you set the price at $8, the … profit is:
- Question: Nash equilibrium is:
- Question: Which of the following is a screen against adverse selection?
- Question: Indirect price discrimination differs from direct price discrimination because:
- Question: Compared to simple pricing, price discrimination leads to:
- Question: Indirect price discrimination differs from direct price discrimination because:
- Question: What is it … when each additional worker … contributes successively smaller amounts of output?
- Question: Jim has a better chance of having his offer … , since the seller does not have any outside
- Question: For a production function with a diminishing, but positive, marginal product of labor:
- Question: Nash equilibrium is:
- Question: Moral hazard implies that:
- An HVAC company is selling heating and cooling equipment. It has separate sales and marketing units. The marketing unit would want to: (Not A or D)
- Question: If the VP of a product launch thinks that a particular product would be profitable, but … up launching an unprofitable product, this will be a:
- Question: Half of all your potential customers would pay $10 for your product, but the other half would only pay $8. You cannot tell them apart. Your marginal costs are $4. If you set the price at $8, the … profit is:
- Question: Which of the following is a screen against adverse selection?
- Question: Compared to simple pricing, price discrimination leads to:
- Question: Use the table … to answer the following question. If the firm decides to only offer the high-end wok, what is the highest price it can charge the chefs?
- Question: Which of the following would not be illegal according to the Robinson- Patman Act? (Not B or D)
- Question: In a two-person … game, a tit-for-tat strategy is:
- Question: The tradeoff between ____ and _____ is represented as the labor supply curve. (Not A or C)
- Question: You experiment by offering free warranties for your product in market A but not in market Sales in Market A rise from 240 to 360 units per week while sales in Market B rise from 410 to 430. The difference-in-difference estimate of the effect of the free warranty is:
- Question: Tom wants to avoid any accidents on the work floor of his factory. If an accident does occur, it would cost him $500,000 in Installing safety equipment would decrease the probability of an accident occurring from 20% to 10%. However, the equipment costs $20,000 to install. What is his … loss after installing the safety equipment?
- Question: Three possibilities are equally likely and have payoffs of $6, $12, and $24. The … value is:
- Question: The general rule to increase profits when two close complementary brands are jointly … is ( Not B)
- Question: Which of the following is not an example of risk aversion?
- Question: For direct price discrimination to work effectively:
- Question: Tom wants to avoid any accidents on the work floor of his factory. If an accident does occur, it would cost him $500,000 in Installing safety equipment would decrease the probability of an accident occurring from 20% to 10%. However, the equipment costs $20,000 to install. Would Tom install the safety equipment?
- Question: Use the table … to answer the following If the groups are of equal size and the firm can only set one price, how should the firm price the high-end wok?
- Question: Which of the following is true?
- Question: Which of the following is a violation of antitrust laws?
- Question: The optimal strategy in a Vickery auction is to:
- Question: Viceroy Vacations is deciding on how to price its vacation Which of the following strategies would you suggest?
- Question: In a principal-agent relationship
- Question: The pricing rule MR=MC holds for:
- Question: For jointly … substitute products, cannibalization leads to MR
- Question: For a production function with a diminishing, but positive, marginal product of labor:
- Question: Acquiring a firm that sells a substitute good would make the demand curve for your original product ~
- Question: The general rule to increase profits when two close substitute brands are jointly … is ~
- Question: After acquiring closely substitutable product brands, a firm can successfully raise prices on both of the brands without losing much of its total sales because ~
- Question: Which of the following is an example of price discrimination?
- Question: The practice of buying a firm’s good in one market at a low price and selling it in another market for a higher price in order to profit from the price difference is known as ~
- Question: The consequences of price discrimination are ~
- Question: Movie theatres offer seniors discounts because ~
- Question: When a firm practices perfect price discrimination,
- Question: Public transit offers … monthly passes to students, which can only be bought and used with valid student IDs. The transit system is using ~
- Question: For jointly … substitute products, cannibalization leads to MR
- Question: Use the table … to answer the following question. If the groups are of equal size and the firm can only set one price, how should the firm price the high-end wok?
- Question: The optimal strategy in a Vickery auction is to:
- Question: Which of the following is a screen against adverse selection?
- Question: The general rule to increase profits when two close complementary brands are jointly … is:
- Question: Indirect price discrimination differs from direct price discrimination because:
- Question: The tradeoff between and is represented as the labor supply
- Question: Which of the following would not be illegal according to the Robinson-Patman Act?
- Question: An HVAC company is selling heating and cooling It has separate sales and marketing units. The marketing unit would want to:
- Question: Nash equilibrium is:
- Question: For direct price discrimination to work effectively:
- Question: In a two-person … game, a tit-for-tat strategy is:
- Question: Half of all your potential customers would pay $10 for your product, but the other half would only pay $8. You cannot tell them Your marginal costs are $4. If you set the price at $8, the … profit is:
- Question: You experiment by offering free warranties for your product in market A but not in market Sales in Market A rise from 240 to 360 units per week while sales in Market B rise from 410 to 430. The difference-in-difference estimate of the effect of the free warranty is:
- Question: Use the table … to answer the following If the firm decides to only offer the high-end wok, what is the highest price it can charge the chefs?
- Question: Three possibilities are equally likely and have payoffs of $6, $12, and $24. The … value is:
- Question: Viceroy Vacations is deciding on how to price its vacation Which of the following strategies would you suggest?
- Question: Which of the following is not an example of risk aversion?
- Question: In a principal-agent relationship
- Question: What is it … when each additional worker … contributes successively smaller amounts of output?
- Question: Which of the following is a violation of antitrust laws?
- Question: Which of the following is true?
- Question: Tom wants to avoid any accidents on the work floor of his factory. If an accident does occur, it would cost him $500,000 in damages. Installing safety equipment would decrease the probability of an accident occurring from 20% to 10%. However, the equipment costs $20,000 to What is his … loss after installing the safety equipment?
- Question: Tom wants to avoid any accidents on the work floor of his factory. If an accident does occur, it would cost him $500,000 in damages. Installing safety equipment would decrease the probability of an accident occurring from 20% to 10%. However, the equipment costs $20,000 to Would Tom install the safety equipment?
- Question: Moral hazard implies that:
- Question: The pricing rule MR=MC holds for:
- Question: Jim has a better chance of having his offer … , since the seller does not have any outside offers.
- Question: Compared to simple pricing, price discrimination leads to:
- Question: If the VP of a product launch thinks that a particular product would be profitable, but … up launching an unprofitable product, this will be a:
- Question: For a production function with a diminishing, but positive, marginal product of labor:
- Question: Acquiring a firm that sells a substitute good would make the demand curve for your original product ~
- Question: The general rule to increase profits when two close substitute brands are jointly … is ~
- Question: After acquiring closely substitutable product brands, a firm can successfully raise prices on both of the brands without losing much of its total sales because ~
- Question: Which of the following is an example of price discrimination?
- Question: The practice of buying a firm’s good in one market at a low price and selling it in another market for a higher price in order to profit from the price difference is known as ~
- Question: The consequences of price discrimination are ~
- Question: Movie theatres offer seniors discounts because ~
- Question: When a firm practices perfect price discrimination,
- Question: Public transit offers … monthly passes to students, which can only be bought and used with valid student IDs. The transit system is using ~
- Question: In which of the following cases does the Robinson-Patman act not apply?
ECN-601 Week 8 Exam 2 Test Prep
- Acquiring a firm that sells a substitute good would make the demand curve for your original product ~
- The general rule to increase profits when two close substitute brands are jointly … is ~
- After acquiring closely substitutable product brands, a firm can successfully raise prices on both of the brands without losing much of its total sales because ~
- Which of the following is an example of price discrimination?
- The practice of buying a firm’s good in one market at a low price and selling it in another market for a higher price in order to profit from the price difference is known as ~
- The consequences of price discrimination are ~
- Movie theatres offer seniors discounts because ~
- When a firm practices perfect price discrimination,
- Public transit offers … monthly passes to students, which can only be bought and … with valid student IDs. The transit system is using ~
- In which of the following cases does the Robinson-Patman act not apply?
- The “damaged goods” strategy refers to
- When the market is in equilibrium,
- When difference between the minimum price the producer is willing to accept and the price the producer actually receives for a product is … to as:
- If you are are willing to sell your lawn mower business for $355,000 and someone offers you $420,000 for it,this transaction will generate:
- Taxes cause:
- A price ceiling is binding when.
- Economic reasoning is … on the premise that:
- Social forces:
- One lesson of business:
- The difference between the maximum price the consumer is willing to pay and the price the consumer actually pays for a product is … to as:
- If you are willing to sell your car business for $500,000 and someone offers you $420,000 for it, this transaction will generate:
- If you are willing to purchase a house for $500,000 and you purchase the house for $500,000, this transaction will generate:
