Essay about Marginal Cost and Correct Answer

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Question 1
5 out of 5 points

Economic profit is defined as the difference between revenue and ____.
Answer
Selected Answer: total economic cost
Correct Answer: total economic cost
Question 2
5 out of 5 points

Recently, the American Medical Association changed its recommendations on the frequency of pap-smear exams for women. The new frequency recommendation was designed to address the family histories of the patients. The optimal frequency should be where the marginal benefit of an additional pap-test:
Answer
Selected Answer: equals the marginal cost of the test

Correct Answer: equals the marginal cost of the test

Question 3
5 out of 5 points

The flat-screen plasma TVs are selling extremely well. The
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Answer
Selected Answer:
Durbin-Watson test
Correct Answer:
Durbin-Watson test
Question 17
5 out of 5 points

The variation in an economic time-series which is caused by major expansions or contractions usually of greater than a year in duration is known as:
Answer
Selected Answer: cyclical variation
Correct Answer: cyclical variation
Question 18
5 out of 5 points

If two alternative economic models are offered, other things equal, we would
Answer
Selected Answer: select the model that gave the most accurate forecasts

Correct Answer: select the model that gave the most accurate forecasts

Question 19
5 out of 5 points

The type of economic indicator that can best be used for business forecasting is the:
Answer
Selected Answer: leading indicator
Correct Answer: leading indicator
Question 20
5 out of 5 points

Which of the following barometric indicators would be the most helpful for forecasting future sales for an industry?
Answer
Selected Answer: leading economic indicators.
Correct Answer: leading economic indicators.
Question 21
5 out of 5 points

An appreciation of the U.S. dollar has what impact on Harley-Davidson (HD), a U.S. manufacturer of motorcycles?
Answer
Selected Answer: domestic sales of HD motorcycles decrease and foreign sales of HD

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