Econ 528 - Study guides, Class notes & Summaries

Microeconomics studies the allocation of correct answers scarce resources Managerial Economics correct answers helps managers make decisions in the face of scarcity Microeconomics models are used to correct answers make predictions explain real-life phenomena evaluate production alternatives Managerial economics as a specialized branch of economics correct answers provide logic and methodology to find solutions to business problems Managerial Economics is best defined as the econom...

University of louisiana econ 528 midterm exam

ECON 528 Midterm Exam With Complete Solutions 2024

ECON 528 Final Exam Questions And Answers 2024

ECON 528 Midterm Exam With 100% Correct Answers 2024

ECON 528 Final Exam With Complete Solutions 2024

Economies of scale exist as a firm increases its size in the long run because of all the following except: correct answers As a firm expands its production, its profit margin per-unit of output increases Over the past twenty years, the number of small family farms has fallen significantly and in their place there are fewer, but larger, farms owned by corporations. Which of the following best explains this trend? correct answers Economies of scale in farming The president of Toyota's Geor...

d. As the size of the firm increases it becomes more difficult to coordinate the operations of its manufacturing plants. correct answers Which of the following is a reason why a firm would experience diseconomies of scale? a. As the size of the firm increases, it becomes more difficult to find markets where it doesn't already have operations. b. As the size of the firm increases, it must operate in other countries where differences in language, customs and laws increase its average costs. c....

Average variable cost and the cumulative number of units produced correct answers Learning curves represent the relationship between Select one: a. average variable cost and the cumulative number of units produced b. total cost and technology c. average variable cost and the rate of increase in technology d. average variable cost and the number of units produced per time period None of the above is correct correct answers If the marginal product of labor is 2, the marginal product of ...

ECON 528 - Exam One With 100% Correct Answers 2024