Final Exam
User | Samantha Capasso | Course | Managerial Economics & Globali | Test | Final Exam | Started | 9/14/12 7:22 PM | Submitted | 9/14/12 8:45 PM | Status | Completed | Score | 260 out of 300 points | Time Elapsed | 1 hour, 22 minutes out of 2 hours. | Instructions | This final exam consist of 30 multiple choice questions and covers the material in chapters 8 through 17. There are three questions from each chapter and the questions are in chapter order. Be sure you are in the correct Chapter when you take the exam. |
* Question 1
10 out of 10 points | | | Which of the following factors affect vertical integration of firms?Answer | | | | | Selected Answer: | The transaction cost at each stage of production. | | | | | * Question 2
10 out of 10 points | | | In order to be successful as an innovator, a firm may require:Answer | | | | | Selected Answer: | research facilities and a culture that respects scientists and engineers. | | | | | * Question 3
0 out of 10 points | | | Which of the following contracts contain vertical restrictions that limit the transacting parties’ choices but create economic value?Answer | | | | | Selected Answer: | A contract amongst competitive firms on an uniform pricing strategy. | | | | | * Question 4
10 out of 10 points | | | According to economists, an individual who tries to derive utility from the consumption of a good without paying for it is called:Answer | | | | | Selected Answer: | a free rider. | | | | | * Question 5
10 out of 10 points | | | According to Coasian reasoning, if negotiation is costless:Answer | | | | | Selected Answer: | irrespective of the initial distribution of rights, the efficient outcome will maximize the net benefit of the group. | | | | | * Question 6
0 out of 10 points | | | Investments that are specific to a relationship (i.e. of lower value
* Question 1
10 out of 10 points | | | Which of the following factors affect vertical integration of firms?Answer | | | | | Selected Answer: | The transaction cost at each stage of production. | | | | | * Question 2
10 out of 10 points | | | In order to be successful as an innovator, a firm may require:Answer | | | | | Selected Answer: | research facilities and a culture that respects scientists and engineers. | | | | | * Question 3
0 out of 10 points | | | Which of the following contracts contain vertical restrictions that limit the transacting parties’ choices but create economic value?Answer | | | | | Selected Answer: | A contract amongst competitive firms on an uniform pricing strategy. | | | | | * Question 4
10 out of 10 points | | | According to economists, an individual who tries to derive utility from the consumption of a good without paying for it is called:Answer | | | | | Selected Answer: | a free rider. | | | | | * Question 5
10 out of 10 points | | | According to Coasian reasoning, if negotiation is costless:Answer | | | | | Selected Answer: | irrespective of the initial distribution of rights, the efficient outcome will maximize the net benefit of the group. | | | | | * Question 6
0 out of 10 points | | | Investments that are specific to a relationship (i.e. of lower value