Mid-Term Exam, Managerial Economics, Spring 2014, Dr. Soon Paik,

Mid-Term Exam, Managerial Economics,  Spring 2014,  Dr. Soon Paik, 1.    O or X (True or False) (    ) (1) The present value of future profit is not related to financial market. (    ) (2) The relation between managers and team members is a principal-agent problem. (    ) (3) The optimum output is related to the production function. (    ) (4) The derivative is the average slope of function. (    ) (5) The optimum inputs are related to cost equation. (    ) (6) The optimum inputs are related to revenue function. (    ) (7) Reengineering is following other firm’s better processes. (    ) (8) The unemployment data is to be obtained from www.census.gov. (    ) (9) The monopolist’s demand function is the market demand function. (    ) (10) The perfect competitive firm’s demand function is the market demand function. (    ) (11) The long-run price elasticity of demand is inelastic. (    ) (12) The elastic cross-price of demand indicates the substitute goods. (    ) (13) The utility function is composed of quantities and prices. (    ) (14) The indifference curves can not cross each other. (    ) (15) The price line is nothing to do with the income level. (    ) (16) The optimum consumption is related to marginal utilities. (    ) (17) The chicken is a normal good related to beef. (    ) (18) The chicken is a normal good related to potatoes. (    ) (19) The substitute goods are related to own price changes. (    ) (20) The slope of indifference curve is the price ratio. (    ) (21) Watching customers’ behaviors is the custom clinics. (    ) (22) The -3.07 price elasticity of orange means inelastic. (    ) (23) The +1.56 cross-price elasticity of orange means substitute goods. (    ) (24) The +0.01 cross-price elasticity of orange means complement goods. (    ) (25) The regression line is the scatter diagram. (    ) (26) The regression line is the model. (    ) (27) The t > 2 means that estimated coefficients are zero. (    ) (28) Delphi method is a survey. (    ) (29) Optimum inputs are related to the input prices. (    ) (30) Returns to scale are related to iso-cost lines. 2.    Summarize (1)    Managerial economics: (2)    Business ethics: (3)    Optimum rules for consumption: (4)    GDP components: (5)    Price/income/cross-price elasticity of demand: (6)    Managerial decision-making on elasticity: (7)    Consumption-price path and demand curve: (8)    Substitute goods and complement goods: (9)    Least-squared estimation: (10)    Model and scatter diagram: (11)    Estimated coefficients: (12)    R-square and t: (13)    Components of time series: (14)    Optimum rules for inputs and output: PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET AN AMAZING DISCOUNT :) Mid-Term Exam, Managerial Economics,  Spring 2014,  Dr. Soon Paik,  Name(            ) 1.    O or X (True or False) (    ) (1) The present value of future profit is not related to financial market. (    ) (2) The relation between managers and team members is a principal-agent problem. (    ) (3) The optimum output is related to the production function. (    ) (4) The derivative is the average slope of function. (    ) (5) The optimum inputs are related to cost equation. (    ) (6) The optimum inputs are related to revenue function. (    ) (7) Reengineering is following other firm’s better processes. (    ) (8) The unemployment data is to be obtained from www.census.gov. (    ) (9) The monopolist’s demand function is the market demand function. (    ) (10) The perfect competitive firm’s demand function is the market demand function. (    ) (11) The long-run price elasticity of demand is inelastic. (    ) (12) The elastic cross-price of demand indicates the substitute goods. (    ) (13) The utility function is composed of quantities and prices. (    ) (14) The indifference curves can not cross each other. (    ) (15) The price line is nothing to do with the income level. (    ) (16) The optimum consumption is related to marginal utilities. (    ) (17) The chicken is a normal good related to beef. (    ) (18) The chicken is a normal good related to potatoes. (    ) (19) The substitute goods are related to own price changes. (    ) (20) The slope of indifference curve is the price ratio. (    ) (21) Watching customers’ behaviors is the custom clinics. (    ) (22) The -3.07 price elasticity of orange means inelastic. (    ) (23) The +1.56 cross-price elasticity of orange means substitute goods. (    ) (24) The +0.01 cross-price elasticity of orange means complement goods. (    ) (25) The regression line is the scatter diagram. (    ) (26) The regression line is the model. (    ) (27) The t > 2 means that estimated coefficients are zero. (    ) (28) Delphi method is a survey. (    ) (29) Optimum inputs are related to the input prices. (    ) (30) Returns to scale are related to iso-cost lines. 2.    Summarize (1)    Managerial economics: (2)    Business ethics: (3)    Optimum rules for consumption: (4)    GDP components: (5)    Price/income/cross-price elasticity of demand: (6)    Managerial decision-making on elasticity: (7)    Consumption-price path and demand curve: (8)    Substitute goods and complement goods: (9)    Least-squared estimation: (10)    Model and scatter diagram: (11)    Estimated coefficients: (12)    R-square and t: (13)    Components of time series: (14)    Optimum rules for inputs and output: PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET AN AMAZING DISCOUNT :)