Economies and Balance Midterm Exam Essay

1. Economies of Scope refers to situations where per unit damages atomic number 182. For a short-run cost matter which of the following statements is (are) not received?3. According to the theory of cost, specialization in the use of variable resources in the short-run results initially in4. Economies of scale exist when of all time long-run intermediate costs5. The existence of diseconomies of scale (size) for the firm is hypothesized to result from6. If TC = 321 + 55Q 5Q2, and so average total cost at Q = 10 is7. Using necessity and supply curves for the Japanese yen based on the $/ price for yen, an annex in US INFLATION RATES would8. An appreciation of the U.S. dollar has what meeting on Harley-Davidson (HD), a U.S. manufacturer of motorcycles?9. In a recession, the mint residuum often improves because10. The purchasing power parity hypothesis implies that an increase in inflation in one country relative to another(prenominal) ordain over a long period of measure11 . Companies that reduce their margins on export products in the face of appreciation of their home currency may be motivated by a desire to12. The import of apple iPads assembled in Shanghai at a $295 wholesale price ($213 cost and $82 profit margin) adds more than it should to the U.S. trade deficit with China because13. trading partners should specialize in producing goods in accordance with comparative advantage, then trade and diversify in consumption because14. Marginal factor cost is outlined as the bill that an additional unit of the variable input adds to ____.15. The fringy product is defined as16. The isoquants for inputs that are perfect complements for one another consist of a series of17. The primary purpose of the Cobb-Douglas power function is to18. Given a Cobb-Douglas production function estimate of Q = 1.19L.72K.18 for a effrontery industry, this industry would have19. In a production process, an excessive heart and soul of the variable input relative to the fixed input is being use to produce the desired output. This statement is true for20. An causa of a time series data set is one for which the21. Smoothing techniques are a reach of ____ techniques which assume that there is an underlying pattern to be found in the historical values of a variable that is being forecast22. For analyze demand relationships for a proposed new product that no one has ever utilize before, what would be the best method to use?23. Time-series forecasting models24. The form in an sparing time-series which is caused by major expansions or contractions usually of great than a year in duration is known as25. Consumer use plans is an example of a forecasting method. Which of the general categories best described this example?26. Given a Cobb-Douglas production function estimate of Q = 1.19L.72K.18 for a given industry, this industry would have27. In a production process, an excessive amount of the variable input relative to the fixed input is being use d to produce the desired output. This statement is true for28. The primary purpose of the Cobb-Douglas power function is to29. Which of the following statements concerning the long-run average cost curve of economic theory is true?30. The cost function is31. What method of inventory rating should be used for economic decision-making problems?32. According to the theory of cost, specialization in the use of variable resources in the short-run results initially in