"You can't make a great peanut butter sandwich without Smuckers'ลฝ jelly!" This advertisement targets your
answer
rituals
question
Based on this chart, what is the marginal revenue, in dollars, at quantity six jackets?
answer
10
question
Stefan has inherited a large amount of money and decides he wants to start a skateboard shop. He has money to invest up front, but he lacks business expertise. Which of the following would be his best business options, depending on what he is willing to risk?
answer
Partnership or limited liability company
question
Which investment produces a $40 daily profit for a game shop earning $2 profit from every game sold?
answer
Vehicle with $120 daily operating cost, delivering 80 games per day
question
A small town has few available workers, and unemployment is low. A family-owned restaurant in town has just had a very good year in profits and would like to hire additional wait staff to meet higher demand. Based on what you know of how worker earnings are determined, which of the following will most likely happen?
answer
The restaurant will offer a higher wage than other comparable businesses in the area.
question
Jessica is a violinist who believes she can extend her method of learning music to early childhood education. She opens a preschool in her hometown, using her expertise to form an arts-based program. What factor of production is this?
answer
Entrepreneurship
question
Which of the following is the least profitable investment for a candy shop that earns $1 profit per pound of candy?
answer
Worker at $10 per hour, producing eight pounds of candy per hour
question
Your friend likes to direct all the activities of his business. It would be best for him to create a
answer
sole proprietorship
question
Use this image to answer the following question. The ice cream shop
answer
is most efficient when it produces 2 gallons of strawberry ice cream (Most likely)
I answered == wants to produce mostly chocolate ice cream (Incorrect).
question
Use this image to answer the following question. If there are only enough strawberries to produce 2 gallons of strawberry ice cream, how many gallons of chocolate ice cream can the shop efficiently produce?
answer
15
question
A company will continue to hire workers until
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the additional profit is less than the cost of hiring
question
An oligopoly is a market for a good or service that
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has few competitive firms
question
You are starting a lawn care business. Which of the following would be a needed land resource?
answer
Not Lawns
Either:
Oil
Lawnmower
Hedge clippers
question
The greatest goal in advertising is to convince us
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a particular product is a "need"
question
Mad Hatter Publishing specializes in genre fiction for young adults. A movie company decides to make an adaptation of one of its popular science-fiction novels. Currently, production at Mad Hatter is at point T. To which point or points is production likely to shift?
answer
Q or R
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Joseph Unahue made his fortune in
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food distribution
question
Adalet runs a newsstand in a busy office complex. Which option would best help her business to grow?
answer
Buy a new cash register with credit card capability
question
Based on this chart, what is the marginal cost, in dollars, to produce seven jackets?
answer
18
question
Which of the following correctly arranges market structures in order from easiest entry to hardest entry?
answer
Pure competition, monopolistic competition, oligopoly, monopoly
question
The owner of ProPhone has charted the company's marginal revenue and marginal cost for its latest line of smartphones, the Blazer. Use the chart to calculate the company's profit.
What is the difference between marginal cost and marginal revenue at the point when profits are maximized on the chart?
answer
10
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