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23/06/2021 Take T est: Final Exam – Summer 2021 - Managerial ...
https://ucumberlands.blackboard.com/ultra/courses/_141383_1/cl/outline 1/16

Ta ke T e st: Fin al E xa m
Su m mer 2021 - M an ageria l Eco n om ics ( B A D M -5 35-A 01) - F irs t B i-Term C on te n t W eek 8
T a ke T e st: F in al E xa m
Te st I n fo rm atio n
Descr ipt io n
In str u ct io n s
M ult ipl e A tte mpt s Not a llo w ed. Th is t e st ca n o n ly be t a ke n o n ce .
Fo rce C ompl etio n Th is t e st ca n be s a ve d an d re su me d la te r.
Y o u r a n sw ers a re s a ve d au to ma tica lly .
a .
b.
c.
d.
Q UEST IO N 1
A f ir m s e lls 1 000 u nits p er w eek . I t c h arg es $ 15 p er u nit, t h e
av era g e v aria b le c o sts a re $ 10, a n d t h e a v era g e c o sts a re $ 25. I n t h e
sh ort r u n, t h e f ir m s h ould
S hut- d ow n a s t h e f ir m i s m ak in g a l o ss o f $ 10,0 00 p er w eek
C ontin ue o pera tin g a s t h e f ir m i s c o verin g a ll t h e v aria b le
c o sts a n d s o m e o f t h e f ix ed c o sts
S hut- d ow n a s p ric e i s l o w er t h an a v era g e c o st
S hut- d ow n b ecau se i t i s c o st e ff e ctiv e t o p ay o ff t h e
re m ain in g f ix ed c o sts
1 p oin ts   S a ve d
a .
b.
c.
d.
Q UEST IO N 2
W hic h o f t h e f o llo w in g s ta te m en ts i s t r u e?
A c o m pan y c an not m an ip ula te u nco ntr o lla b le f a cto rs t o
i n cre ase t h e d em an d f o r i ts p ro duct
A c o m pan y c an m an ip ula te u nco ntr o lla b le f a cto rs t o i n cre ase
th e d em an d f o r i ts p ro duct
A c o m pan y c an m an ip ula te u nco ntr o lla b le f a cto rs t o i n cre ase
th e s u pply o f i ts p ro duct
A c o m pan y c an not m an ip ula te c o ntr o lla b le f a cto rs t o
i n cre ase t h e d em an d f o r i ts p ro duct
1 p oin ts   S a ve d
Q UEST IO N 3 1 p oin ts   S a ve d
? Qu estio n C ompl etio n S ta tu s:

23/06/2021 Take T est: Final Exam – Summer 2021 - Managerial ...
https://ucumberlands.blackboard.com/ultra/courses/_141383_1/cl/outline 2/16
a.
b.
c.
d.
W hic h i s N OT a n e x am ple o f m ora l h azard
D riv ers o f h eav ie r, s a fe r c are s a re m ore l ik ely t o r u n s to p
sig ns
w ork ers o n c o m mis sio n w ork h ard er t h an t h ose p aid a n
h ourly w ag e
peo ple e at l e ss a t a ll- y ou-c an -e at b uff e ts
lo ggers c le ar- c u t a t r a ct o f l a n d w hen p ay in g a f ix ed p ric e
ra th er t h an w hen p ay in g p er t r e e f e lle d
p
a.
b.
c.
d.
Q UEST IO N 4
U se t h e f o llo w in g c a se f r o m q uestio ns 3 6-3 8
A c o uple g ets i n to a n a rg um en t d ecid in g w here t h ey w ould g o o ut
to geth er. B oth l ik e t o s p en d l ik e w ith e ach o th er a n d h av e t h e
pay off s a s b elo w
S ally S am
B alle t B oxin g
B alle t 5 ,1 0 0,0
B oxin g 0.0 1 0,5
I f t h e b oxin g m atc h w ill b