Marginal decisions - Study guides, Class notes & Summaries

____ are customers who like a store so much that they actively share their positive experiences with friends and family - store advocates ____ form a part of the microenvironment that influences retail management decisions - competitors ____ refers to the way people live, how they spend their time and money, what activities they pursue, and what their attitudes and opinions are about the world they live in - lifestyle _____ are the principles governing the behavior of individuals and compa...

ECON 705 Mod. 6 Self-Assessment Test with Solutions 1. The ability of a firm to raise its price while still maintaining a certain amount of sales means that the firm Select one: a. produces a complementary good. b. faces perfectly elastic demand for its product. c. produces a perfect substitute for the other products in the industry. 2. All of the following could be a barrier to entry except Select one: a. large economies of scale. b. occupational licenses (e.g., teac...

Louisiana Notary Exam Update 2024/2025 _Questions With Correct Answers Civil Law [Correct Ans: - System Of Law Derived From Roman Law; Court Decisions Do Not Establish State Law; On The Legislature Enacts State Laws Common Law [Correct Ans: - System Of Law Derived From England; Court Decisions Can Lead To Future Laws And Precedents Commission [Correct Ans: - An Instruction, Command, Or Duty Given To A Person Or Group Of People. Legal Capacity [Correct Ans: - The Ability To Contract; N...

WGU C211 OA Global Economics Exam Latest (2024 / 2025) (Verified Answers) Suppose that the United States imposes a tariff on avocados imported from Mexico. What impact will this have on the price paid for avocados by United States citizens? - ANSWERS The price will increase. Which of the following is a consequence of a country imposing a tariff on imported goods? - ANSWERS The demand for foreign produced goods decreases. Suppose that the United States imposes a tariff on salt. What ...

Price Discrimination CORRECT ANSWER Charging different buyers different prices for the same unit or charging the same buyer different prices for each unit or blocks of units First-Degree Price Discrimination CORRECT ANSWER charging the maximum price that each buyer is willing to pay for each unit purchased; buyer's reservation price; 5 for 1st; 4 for 2nd object; 3 for third object etc.; difficult in practice Buyer's Reservation Price CORRECT ANSWER the price charged in first-degree price...

market Answer a group of buyers and sellers of a good or service and the institution or arrangement by which they come together to trade economic assumptions (3 of them) Answer people are rational people respond to economic incentives optimal decisions are made at the margin economics Answer the study of the choices consumers, business managers, and government officials make to attain their goals, given scarce resources economic models Answer simplified versions of reality used to ana...

Econ 103: Exam 1 Study Guide with Complete SolutionsEcon 103: Exam 1 Study Guide with Complete SolutionsEcon 103: Exam 1 Study Guide with Complete SolutionsEcon 103: Exam 1 Study Guide with Complete Solutions it is reduced - ANSWER-when government spending, and lump sum taxes are reduced, what happens to GDP? automatic stabilizers - ANSWER-revenue and expenditure items in the federal budget that automatically change with the state of the economy in such a way as to stabilize the economy. ...

Normal Profit correct answers The opportunity cost of capital -equivalent to an implicit cost -it is earned if economic profit is zero, which, maybe surprisingly, is the typical case. Market Structure correct answers -the number and relative size of firms in an industry Perfect competition correct answers -a market in which no buyer or seller has market power Monopolistic competition correct answers -many firms, a little market power Oligopoly correct answers -a few firms, consider...

Test Bank for CFIN7 7th Edition by Scott Besley, Eugene Brigham ISBN-13: 5150 Full Chapters test bank includes Multiple choice questions and True false Chapter 1. An Overview of Managerial Finance 1-1. What Is Finance? 1-1a. General Areas of Finance 1-1b. The Importance of Finance in Non-Finance Areas 1-2. Alternative Forms of business Organization 1-2a. Proprietorship 1-2b. Partnership 1-2c. Corpora...

What are the 3+1 stages of absorption costing? correct answer: 1. Allocation 2. Apportionment 3. Absorption = Production Cost 4. Under/over = Non prod OH Why would you use Absorption Costing? correct answer: Valuing Inventory Pricing Decisions Establishing profitability What are pros and cons of absorption and marginal costing? correct answer: *Absorption* -Avoids varying profits if sales are seasonal -Consistent with accounting standards -Recognises Long Run variable costs -...