Test Bank for Managerial Economics & Business Strategy 10th Edition by Michael Baye
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Course
Economics
Institution
Economics
Test Bank for Managerial Economics & Business Strategy 10th Edition by Michael Baye, Jeff Prince
ISBN10: 3
ISBN13: 0541
Full Chapters test bank in PDF
Chapter 1. The Fundamentals of Managerial Economics
Chapter 2. Market Forces: Demand and Supply
Chapter 3. Quantitative Demand Analysis
...
A) the greater the present value of a future amount.
B) the smaller the present value of a future amount.
C) the greater the level of inflation.
D) the smaller the level of inflation.
2) If the interest rate is 10 percent and cash flows are $1,000 at the end of year one and
$2,000 at the end of year two, then the present value of these cash flows is
A) $2,562.
B) $3,200.
C) $439.
D) $3,000.
3) Accounting profits are
A) total revenue minus total cost.
B) total cost minus total revenue.
C) marginal revenue minus total cost.
D) total revenue minus marginal cost.
4) Economic profits are
A) total revenue minus total cost.
B) marginal revenue minus marginal cost.
C) total revenue minus total opportunity cost.
D) total profits of the economy as a whole.
Version 1 1
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