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ECO 550 FINAL EXAM (PART 1 AND 2) – UPDATED 2014
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ECO 550 FINAL EXAM (PART 1 AND 2) - UPDATED 2014ECO 550 Final Exam (Part 1 And 2) - Updated 2014IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download o550 final exam part 1 Question 1A ____ total cost function implies that marginal costs ____ as output is increased.Answerlinear; increase linearlyquadratic; are constantcubic; increase linearlylinear; are constantQuestion 2Which of the following is not an assumption of the linear breakeven model:Answerconstant selling price per unitdecreasing variable cost per unitfixed costs are independent of the output levela single product (or a constant mix of products) is being produced and soldQuestion 3Break-even analysis usually assumes all of the following except:Answerin the short run, there is no distinction between variable and fixed costs.revenue and cost curves are straight-lines throughout the analysis.there appears to be perfect competition since the price is considered to remain the same regardless of quantity.the straight-line cost curve implies that marginal cost is constant.Question 4George Webb Restaurant collects on the average $5 per customer at its breakfast & lunch diner. Its variable cost per customer averages $3, and its annual fixed cost is $40,000. If George Webb wants to make a profit of $20,000 per year at the diner, it will have to serve__________ customers per year.Answer10,000 customers20,000 customers30,000 customers40,000 customers50,000 customersQuestion 5The degree of operating leverage is equal to the ____ change in ____ divided by the ____ change in ____.Answerpercentage; sales; percentage; EBITunit; sales; unit; EBITpercentage; EBIT; percentage; salesunit; EBIT; unit; sales... Continue...........
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