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MANAGERIAL ECONOMICS (eco404) Quiz # 02
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This is to inform that Quiz # 02 will be opened on Dec 8, 2015 and last date to attempt quiz will be Dec 10, 2015.
Instructions:
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+ Click Here to Search (Looking For something at vustudents.ning.com?) + Click Here To Join (Our facebook study Group)If inputs are perfect compliments, it means that Isoquants are:
Select correct option:
Straight lines
L-shaped
Positively sloped
Negatively sloped
The isoquants for perfect substitutes are parallel straight lines.
The isoquants for perfect complements are in the form of an L.
Which of the following statements is TRUE?
Select correct option:
The sum of the coefficient of determination (R2) is the absolute value of the coefficient of correlation r
The square root of the coefficient of determination (R2) is the absolute value of the coefficient of correlation r
The difference of the coefficient of determination (R2) is the absolute value of the coefficient of correlation r
The square root of the coefficient of determination (R2) is the absolute value of the coefficient of correlation r
Forecasting analysis which is based on the data and equation is known as:
Select correct option:
Qualitative forecasting
Quantitative forecasting
Regression analysis
Time series analysis
FORECASTING TECHNIQUES
Approaches to forecasting
We get a smooth straight line after plotting economic time series data, this is known as:
Select correct option:
Secular trend
Cyclical variation
Seasonal variation
Irregular variation
Secular trend refers to a long-run increase or decrease in the data series (the straight solid
line in the top
If Isoquants are straight line, it means that:
Select correct option:
Inputs are perfect substitutes
Inputs are perfect compliments
Inputs are not sufficient
Inputs are more than sufficient
Managerial economics uses which of the following tools to estimate the decision models?
Select correct option:
Mathematical economics only
Econometrics only
Mathematics and Statistics
Mathematical economics and econometrics
Managerial economics is also closely related to the decision sciences. These use the tools of
mathematical economics and econometrics to construct and estimate decision models aimed at determining the optimal behavior of the firm. Mathematical economics is used to formalize the economic models in equational form postulated by economic theory. Econometrics then applies statistical tool (particularly regression analysis) to real-world data to estimate the models postulated by economic theory and for forecasting.
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