
MANAGERIAL ECON FINALS
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Business
1st Grade
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1.
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1 min • 1 pt
– It says that as successive increments of a variable resource are added to a fixed cost, the marginal product of the variable resource will eventually decline.
2.
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1 min • 1 pt
is a short -run horizon phenomena caused by fixed of at least one factor of production such as land, plant, building, and machineries
3.
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1 min • 1 pt
___ means that the marginal cost is increasing, and the increasing marginal cost leads to increasing average costs that will result to decreasing profit.
4.
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1 min • 1 pt
___mean that the long-run average costs are constant or does not change in relation to the output
5.
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1 min • 1 pt
____ rmean that the long-run average costs are constant or does not change in relation to the output
6.
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1 min • 1 pt
__ ) is smaller than the cost of underpricing (lower margins), then price higher than would fill capacity, or price otherwise (vice versa)
7.
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1 min • 1 pt
is the charging of different prices to different consumers or group of consumers for a given commodity
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