Eco 550 Week 1 - 850 Words

McGuigan Chapter 1—Introduction and Goals of the Firm Only for this spring quarter 2013, quiz purposes MULTIPLE CHOICE 1. The form of economics most relevant to managerial decision-making within the firm is: a.|macroeconomics| b.|welfare economics| c.|free-enterprise economics| d.|microeconomics| e.|none of the above| 2. If one defines incremental cost as the change in total cost resulting from a decision, and incremental revenue as the change in total revenue resulting from a decision, any business decision is profitable if: a.|it increases revenue more than costs or reduces costs more than revenue| b.|it decreases some costs more than it increases others (assuming revenues remain constant)| c.|it increases some†¦show more content†¦Agency problems and costs are incurred whenever the owners of a firm delegate decision-making authority to management. a.|true| b.|false| 10. Income tax payments are an example of ____. a.|implicit costs| b.|explicit costs| c.|normal return on investment| d.|shareholder wealth| e.|none of the above| 11. The common factors that give rise to all principal-agent problems include the a.|unobservability of some manager-agent action| b.|presence of random disturbances in team production| c.|the greater number of agents relative to the number of principals| d.|a and b only| e.|none of the above| 12. The Saturn Corporation (once a division of GM) was permanently closed in 2009. What went wrong with Saturn? a. Saturn’s cars sold at prices higher than rivals Honda or Toyota, so they could not sell many cars. b. Saturn sold cars below the prices of Honda or Toyota, earning a low 3% rate of return. c. Saturn found that young buyers of Saturn automobiles were very loyal to Saturn and GM. d. Saturn implemented a change management view that helped make first time Saturn purchasers trade up to Buick or Cadillac. e. all of the above 13. Which of the following will increase (V0), the shareholder wealth maximization model of the firm: V0∙(sharesShow MoreRelatedEco 550 Week 2 Discussion 1 Eco550 Week 2 Discussion 13811 Words   |  16 PagesECO 550 Complete Course Download Answer Here Visit www.workbank247.com http://workbank247.com/q/eco550-eco-550-complete-course-week-1-to-week-11/12249 http://workbank247.com/q/eco550-eco-550-complete-course-week-1-to-week-11/12249 ECO 550 week 1 Discussion 1 Fundamental Economic Concepts  Please respond to the following: * Answer the following discussions based on the Katrina’s Candies scenario: * From the scenario for Katrina’s Candies, examine the key factors affecting the demand forRead MoreEco 550 Check Your Understanding Week 1(Answers)1102 Words   |  5 PagesEach problem/question is worth 3 points. 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Dyson’s Value Chain Model Support Activities FirmInfrastructure | Structuring and planning, HQ in UK, manufacturing and testing facility in Malaysia with 120 testing stationRead MoreEmerging Cities Of The Arab Emirates3204 Words   |  13 Pagesâ€Å"Dubai’s luxury lifestyles are attended by vast numbers of Filipina, Sri Lankan and Indian maids, while the building boom is carried on the shoulders of an army of poorly paid Pakistanis and Indians†¦ working twelve-hour shifts, six and a half days a week, in the asphalt-melting desert heat† Davis (2006). In 2004, in these harsh conditions, the Human Rights watch projected that nearly 880 construction laborers were killed while at work, and the most deadly accidents went unreported. Along with its