Not Much

TEST BANK

managerial Economics
seventh EDITION

TEST BANK

managerial Economics
SEVENTH EDITION

Robert Brooker
GANNON UNIVERSITY

B

W W NORTON & COMPANY NEW YORK LONDON

Copyright 2009, 2005, 2002, 1999, 1993, 1990 by W. W. Norton & Company, Inc.

whole rights reserved. W. W. Norton & Company, Inc., 500 Fifth Avenue, New York, NY 10010 W. W. Norton & Company, Ltd., Castle House, 75/76 Wells Street, London, WIT 3QT

Contents
Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Chapter 8 Chapter 9 Chapter 10 Chapter 11 Chapter 12 Chapter 13 Chapter 14 Chapter 15 Chapter 16 Introduction Demand Theory Consumer Behavior and keen-witted Choice Production Theory The Analysis of Costs complete(a) Competition Monopoly and Monopolistic Competition Managerial Use of hurt Discrimination Bundling and Intra?rm Pricing Oligopoly Game Theory Auctions encounter Analysis Adverse Selection Government and Business 1 13 37 60 80 103 120 138 151 166 184 197 209 240 249

jumper cableAgent Issues and Managerial Compensation 229

Chapter 1 Introduction
MULTIPLE CHOICE

1. Managerial economics uses ____________ to help managers solve problems. a. b. c. d. e.

formal models prescribed style quantitative methods microeconomic theory all of the above
PTS: 1

ANS: E

2. Managerial economics draws upon all of the following EXCEPT: a. b. c. d.



e.

finance microeconomics accountancy marketing sociology
PTS: 1

ANS: E

3. The economic theory of the firm assumes that the principal(a) objective of a firms owner or

owners is to:
a. b. c. d. e.

manage in a socially conscientious manner maximize the firms profit maximize the firms total sales maximize the value of the firm All of these are primary objectives
PTS: 1

ANS: D

Chapter 1: Introduction

1

4. If the annual absorb rate is i, the present value of $X to be genuine at the end of each of the

next n age is:
a. b. c. d. e.

$X/i $X/(1 + i)n

$X

n t =1

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