Question To find economic profit from accounting profit, it is necessary to

To find economic profit from accounting profit, it is necessary to
Select one:
A. subtract dividends.
B. add depreciation expense.
C. subtract the opportunity cost of capital.
D. add retained earnings.

Question 2
The present value of expected future profits will _____ if the discount rate increases and will_____ if expected future profits increase.
Select one:
A. increase; not change
B. increase; increase
C. not change; decrease
D. decrease; increase
E. decrease; decrease

Question 3
Managerial economics draws upon all of the following EXCEPT:
Select one:
A. finance
B. microeconomics
C. accounting
D. marketing
E. sociology

Question 4
Managers may make decisions that are not consistent with the goals of stockholders. This is referred to as the _____ problem.
Select one:
A. principal-agent
B. economic disincentive
C. incentive-compromise
D. efficiency-inefficiency
E. equilibrium

Question 5
Marginal revenue can be defined as the:
Select one:
A. percent increase in total revenue resulting from a one percent increase in output
B. increase in total revenue resulting from a one unit increase in output
C. total revenue divided by output
D. average revenue multiplied by output
E. average revenue multiplied by output divided by 4

Question 6
The cross-price elasticity of demand is defined as the:
Select one:
A. percentage change in the quantity demanded of a good divided by the percentage change in the good’s price
B. percentage change in the quantity demanded of a good divided by the percentage change in a different good’s price
C. percentage change in a good’s price divided by the percentage change in a different good’s price
D. change in the quantity demanded of a good divided by the change in its price
E. change in the quantity demanded of a good divided by the change in income

Question 7

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