1. The optimum price for a product in a specific market occurs when a. Supply exceeds demand b. Demand and supply are in equilibrium c. A company approaches monopoly standing d. Demand exceeds supply
1. The optimum
a. Supply exceeds
b. Demand and supply are in equilibrium
c. A company approaches
d. Demand exceeds supply
2. Skip, the manager of a local senior living facility, has been under a lot of pressure from his regional manager because the occupancy rate at his facility is 80%. Given his fixed costs, if he wants his average per patient costs to equal his company’s average per patient cost (which is lower than Skip’s), he needs to increase his occupancy rate to 90%. When he does this, he will be taking advantage of
a.
b. Marginal analysis
c. Economies of scope
d. Economies of scale
3. Suppose an investment project has an
a. 0.33
b. 0.25
c. 0.50
d. 0.10
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