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All Textbook Solutions for Managerial Economics: A Problem Solving Approach

1MC 2MC 3MC 4MC 5MC 6MC 7MC 8MC 9MC 10MC 1.1IP 1.2IP 1.3IP 1.4IP Goal Alignment between Airlines and Flight Crews Planes frequently push back from the gate on time, but then wait 2 feet away from the gate until it is time to queue up for take-off. This increases fuel consumption, and increases the time that passengers must sit in a cramped plane awaiting take-off. Why does this happen?1.6IP An individual’s value for a good or service is the amount of money he or she used to pay for a good. the amount of money he or she is willing to pay for it. the amount of money he or she has to spend on goods. None of the above. 2MC 3MC 4MC 5MC 6MC 7MC 8MC 9MC 10MC 2.1IP 2.2IP 2.3IP 2.4IP Kraft and Cadbury When Kraft recently bid 16.7 billion for Cadbury, Cadburys market value rose, but Krafts market value fell by more. What does this tell you about the value-creating potential of the deal?2.6IP 1MC 2MC 3MC 4MC 5MC 6MC 7MC 8MC 9MC 10MC 3.1IP Concert Opportunity Cost 2 You were able to purchase two tickets to an upcoming concert for $100 apiece when the concert was first announced three months ago. Recently, you saw that StubHub was listing similar seats for $225 apiece. What does it cost you to attend the concert? 3.3IP 3.4IP 3.5IP Dropping University Courses Students doing poorly in courses often consider dropping the courses. Many universities will offer a refund before a certain date. Should this affect a students drop decision?3.7IP 1MC 2MC 3MC 4MC 5MC 6MC 7MC 8MC 9MC 10MC 4.1IP 4.2IP 4.3IP 4.4IP 4.5IP 4.6IP 1MC 2MC 3MC 4MC 5MC 6MC 7MC 8MC 9MC 10MC 5.1IP 5.2IP 5.3IP 5.4IP 5.5IP 5.6IP 5.7IP 1MC 2MC 3MC 4MC 5MC 6MC 7MC 8MC 9MC 10MC 6.1IP 6.2IP 6.3IP 6.4IP 1MC 2MC 3MC 4MC 5MC 6MC 7MC 8MC 10MC 11MC 7.1IP 7.2IP 7.3IP 7.4IP 7.5IP 7.6IP 1MC 2MC 3MC 4MC 5MC 6MC 7MC 8MC 9MC 10MC 8.1IP 8.2IP Hand Sanitizer Due to the H1N1 flu outbreak, the demand for hand sanitizer has tripled. Should Johnson & Johnson increase production of their Purell hand sanitizer? Should it invest in doubling production capacity? 8.4IP 8.5IP 8.6IP 1MC 2MC 3MC 4MC 5MC 6MC 7MC 8MC 9MC 10MC 9.1IP 9.2IP 9.3IP 9.4IP 9.5IP 9.6IP 1MC 2MC 3MC 4MC 5MC 6MC If a firm successfully adopts a product-differentiation strategy, the elasticity of demand for its products should a. increase. b. decrease. c. become marginal. d. be unaffected.8MC 9MC 10MC 10.1IP 10.2IP 10.3IP 10.4IP 10.5IP 10.6IP 1MC 2MC 3MC 4MC 5MC 6MC 7MC 8MC 9MC 10MC 11.1IP 11.2IP 11.3IP 11.4IP 11.5IP 1MC 2MC 3MC 4MC 5MC 6MC 7MC 8MC After running a promotional campaign, the owners of a local hardware store decided to decrease the prices for the advertised products sold in their store. One can infer that a. the promotional expenditures made the demand for the advertised products more elastic. b. the promotional expenditures made the demand for the advertised products less elastic. c. the promotional expenditures had no effect on the demand elasticity. d. the owners got it wrong. To cover the promotional expenses, they should have raised the prices.10MC 12.1IP 12.2IP 12.3IP 12.4IP 12.5IP 12.6IP 1MC 2MC 3MC 4MC 5MC 6MC 7MC 8MC 9MC 10MC 14.1IP 14.2IP 14.3IP 14.4IP 14.5IP 14.6IP 1MC 2MC 3MC 4MC 5MC 6MC 7MC 8MC 9MC 10MC 15.1IP 15.2IP 15.3IP 15.4IP 15.5IP 15.6IP 1MC 2MC 3MC 4MC 5MC 6MC 7MC 8MC 9MC 10MC 16.1IP 16.2IP 16.3IP 16.4IP 16.5IP 16.6IP 1MC 2MC 3MC 4MC 5MC 6MC 7MC 8MC 9MC You are considering entry into a market in which there is currently only one producer (incumbent). If you enter, the incumbent can take one of two strategies, price low or price high. If he prices high, then you expect a $60K profit per year. If he prices low, then you expect $20K loss per year. You should enter if you believe demand is inelastic. you believe the probability that the incumbent will price low is greater than 0.75. you believe the probability that the incumbent will price low is less than 0.75. you believe the market size is growing. 17.1IP 17.2IP 17.3IP 17.4IP 17.5IP 17.6IP 1MC 2MC 3MC 4MC 5MC 6MC 7MC 8MC 9MC 10MC 18.1IP 18.2IP 18.3IP 18.4IP 18.5IP 18.6IP 1MC 2MC 3MC 4MC 5MC 6MC 7MC 8MC 9MC 10MC 19.1IP 19.2IP 19.3IP 19.4IP 19.5IP 19.6IP 1MC 2MC 3MC 4MC 5MC 6MC 7MC Restrictive covenants on loans are used to avoid moral hazard. adverse selection. free riding. none of the above. 9MC 10MC 20.1IP 20.2IP 20.3IP

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