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The Greatest Goal In Advertising Is To Convince Us

of the following is the most profitable investment for a candy shop that earns $1 profit per pound of candy? Worker at $10 per hour, producing eight pounds of candy per hour Worker at $12 per hour, producing 16 pounds of candy per hour Machine with $5 per hour operating cost, producing 10 pounds of candy per hour Machine with $8 per hour operating cost, producing 14 pounds of candy per hour Points earned on this question: 5 Question 2 (Worth 5 points) (03.04 MC) "Buy our cell phone with built-in calendar and reminder features! This way you will never forget an appointment while on the go." This advertisement targets your fears rituals emotions social values Points earned on this question: 0 Question 3 (Worth 5 points) (03.02 MC) Meg and her mother are opening a cupcake shop. They buy an oven, a walk-in cooler, and a decorating table. In terms of factors of production, what are these items? Capital Entrepreneurship Labor Land Points earned on this question: 5 Question 4 (Worth 5 points) (03.06 MC) 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? The restaurant will post strict education requirements for new hires. The restaurant will offer a lower wage than other comparable businesses in the area. The restaurant will decrease pay for existing workers. The restaurant will offer a higher wage than other comparable businesses in the area. Points earned on this question: 5 Question 5 (Worth 5 points) (03.06 MC) Adalet runs a newsstand in a busy office complex. Which option would best help her business to grow? Buy a new cash register with credit card capability Hire more workers and decrease the hours her store is open Join a newsstand-owner professional association Keep her business cash only and avoid major purchases Points earned on this question: 0 Question 6 (Worth 5 points) (03.03 MC) Root and Vine is a gardening collective and local delivery service started by two friends. Their clientele has grown, and they want to expand. The owners like the idea of protecting their personal property, but they want to maintain control of the business. Which type of organization might best suit their growth? Sole proprietorship Partnership Limited liability company Corporation Points earned on this question: 0 Question 7 (Worth 5 points) (03.04 MC) Which of the following correctly arranges market structures in order from easiest entry to hardest entry? Monopolistic competition, monopoly, pure competition, oligopoly Monopoly, oligopoly, monopolistic competition, pure competition Oligopoly, monopoly, monopolistic competition, pure competition Pure competition, monopolistic competition, oligopoly, monopoly Points earned on this question: 5 Question 8 (Worth 5 points) (03.05 MC) Quantity of Jackets Price (in whole dollars) Total Revenue Marginal Revenue Total Cost Marginal Cost Profit (or loss) 0 20 1 20 20 18 2 19 38 33 3 18 54 43 4 17 68 55 5 16 80 68 6 15 90 83 7 14 98 101 8 13 104 120 Based on this chart, what is the marginal revenue, in dollars, at quantity five jackets? 12 13 52 64 Points earned on this question: 5 Question 9 (Worth 5 points) (03.06 HC) A production possibilities curve. x-axis is labeled Mystery Novels. Y-axis is labeled Sci-Fi Novels. Curve extends from 0, 11 to 11, 0. Point Q plotted at 5, 11. Point R plotted at 6, 10. Point T plotted at 9, 8. Point V plotted at 10, 5. Mad Hatter Publishing specializes in genre fiction for young adults. A popular mystery author has just completed the final book in a trilogy. Currently, production at Mad Hatter Publishing is at point R. To which point or points is production likely to shift? Q or R Q or T T or V V or Q Points earned on this question: 5 Question 10 (Worth 5 points) (03.06 MC) John sells pizzas for $10 each and earns $2 profit per pizza. He pays workers $8 per hour. What is the minimum number of pizzas a worker should produce per hour to be beneficial to John? Two Three Four Five Points earned on this question: 0 Question 11 (Worth 5 points) (03.04 LC) The level of competition least beneficial to consumers is oligopoly monopoly pure competition monopolistic competition Points earned on this question: 5 Question 12 (Worth 5 points) (03.01 LC) Samuel F.B. Morse patented the telegraph automobile audio recorder radio transmitter Points earned on this question: 5 Question 13 (Worth 5 points) (03.06 MC) Graph shows gallons of strawberry ice cream along the horizontal axis and gallons of chocolate ice cream along the vertical axis. Five points are plotted on the graph. Point A shows four strawberry and eight chocolate. Point B shows 15 chocolate and two strawberry. Point C shows four chocolate and twelve strawberry. Point D shows twelve chocolate and eight strawberry. Point X shows twelve chocolate and twelve strawberry. 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? 0 4 12 15 Points earned on this question: 0 Question 14 (Worth 5 points) (03.02 MC) You are starting a lawn care business. Which of the following would be a needed land resource? Lawns Oil Lawnmower Hedge clippers Points earned on this question: 0 Question 15 (Worth 5 points) (03.06 MC) Graph shows gallons of strawberry ice cream along the horizontal axis and gallons of chocolate ice cream along the vertical axis. Five points are plotted on the graph. Point A shows four strawberry and eight chocolate. Point B shows 15 chocolate and two strawberry. Point C shows four chocolate and twelve strawberry. Point D shows twelve chocolate and eight strawberry. Point X shows twelve chocolate and twelve strawberry. Use this image to answer the following question. The ice cream shop wants to produce mostly chocolate ice cream wants to produce mostly strawberry ice cream would operate inefficiently if it produced 6 gallons of both flavors is most efficient when it produces 2 gallons of strawberry ice cream Points earned on this question: 0 Question 16 (Worth 5 points) (03.05 HC) Marginal Cost Analysis Chart: ProPhone Blazer Quantity of Phones Price (in whole dollars) Total Revenue Marginal Revenue Total Cost Marginal Cost Profit (or loss) 0 220 0 0 90 0 1 200 200 200 170 80 2 180 360 160 200 30 3 160 480 120 290 90 4 150 600 120 340 50 5 140 700 100 400 60 6 135 810 90 500 100 7 130 910 100 620 120 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. If ProPhone sells four phones, the company will break even lose money maximize profits make some profit Points earned on this question: 0 Question 17 (Worth 5 points) (03.06 MC) Which of the following is the most profitable investment for a game shop earning $2 profit from every game sold? Vehicle with $120 daily operating cost, delivering 80 games per day Inventory software with $10 daily operating cost, saving 30 games per day from theft Game cleaning system with $5 daily operating cost, increasing sales by 15 games per day Electronic billboard with $20 daily operating cost, increasing sales by 20 games per day Points earned on this question: 0 Question 18 (Worth 5 points) (03.05 MC) Quantity of Jackets Price (in whole dollars) Total Revenue Marginal Revenue Total Cost Marginal Cost Profit (or loss) 0 20 1 20 20 18 2 19 38 33 3 18 54 43 4 17 68 55 5 16 80 68 6 15 90 83 7 14 98 101 8 13 104 120 Based on this chart, what is the marginal cost, in dollars, to produce two jackets? Five 15 18 33 Points earned on this question: 5 Question 19 (Worth 5 points) (03.03 MC) Your friend likes to direct all the activities of his business. It would be best for him to create a limited liability company sole proprietorship corporation partnership Points earned on this question: 5 Question 20 (Worth 5 points) (03.04 LC) The greatest goal in advertising is to convince us "wants" are unnecessary the firm has the best price a particular product is a "need" the product is the same as other firm's products Points earned on this question: 5
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Question 1 (Worth 5 points) (03.06 MC) Which of the following is the most profitable investment for a candy shop that earns $1 profit per pound of candy? Worker at $10 per hour, producing eight pounds of candy per hour Worker at $12 per hour, producing 16 pounds of candy per hour Machine with $5 per hour operating cost, producing 10 pounds of candy per hour Machine with $8 per hour operating cost, producing 14 pounds of candy per hour Points earned on this question: 5 Question 2 (Worth 5 points) (03.04 MC) "Buy our cell phone with built-in calendar and reminder features! This way you will never forget an appointment while on the go." This advertisement targets your fears rituals emotions social values Points earned on this question: 0 Question 3 (Worth 5 points) (03.02 MC) Meg and her mother are opening a cupcake shop. They buy an oven, a walk-in cooler, and a decorating table. In terms of factors of production, what are these items? Capital Entrepreneurship Labor Land Points earned on this question: 5 Question 4 (Worth 5 points) (03.06 MC) 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? The restaurant will post strict education requirements for new hires. The restaurant will offer a lower wage than other comparable businesses in the area. The restaurant will decrease pay for existing workers. The restaurant will offer a higher wage than other comparable businesses in the area. Points earned on this question: 5 Question 5 (Worth 5 points) (03.06 MC) Adalet runs a newsstand in a busy office complex. Which option would best help her business to grow? Buy a new cash register with credit card capability Hire more workers and decrease the hours her store is open Join a newsstand-owner professional association Keep her business cash only and avoid major purchases Points earned on this question: 0 Question 6 (Worth 5 points) (03.03 MC) Root and Vine is a gardening collective and local delivery service started by two friends. Their clientele has grown, and they want to expand. The owners like the idea of protecting their personal property, but they want to maintain control of the business. Which type of organization might best suit their growth? Sole proprietorship Partnership Limited liability company Corporation Points earned on this question: 0 Question 7 (Worth 5 points) (03.04 MC) Which of the following correctly arranges market structures in order from easiest entry to hardest entry? Monopolistic competition, monopoly, pure competition, oligopoly Monopoly, oligopoly, monopolistic competition, pure competition Oligopoly, monopoly, monopolistic competition, pure competition Pure competition, monopolistic competition, oligopoly, monopoly Points earned on this question: 5 Question 8 (Worth 5 points) (03.05 MC) Quantity of Jackets Price (in whole dollars) Total Revenue Marginal Revenue Total Cost Marginal Cost Profit (or loss) 0 20 1 20 20 18 2 19 38 33 3 18 54 43 4 17 68 55 5 16 80 68 6 15 90 83 7 14 98 101 8 13 104 120 Based on this chart, what is the marginal revenue, in dollars, at quantity five jackets? 12 13 52 64 Points earned on this question: 5 Question 9 (Worth 5 points) (03.06 HC) A production possibilities curve. x-axis is labeled Mystery Novels. Y-axis is labeled Sci-Fi Novels. Curve extends from 0, 11 to 11, 0. Point Q plotted at 5, 11. Point R plotted at 6, 10. Point T plotted at 9, 8. Point V plotted at 10, 5. Mad Hatter Publishing specializes in genre fiction for young adults. A popular mystery author has just completed the final book in a trilogy. Currently, production at Mad Hatter Publishing is at point R. To which point or points is production likely to shift? Q or R Q or T T or V V or Q Points earned on this question: 5 Question 10 (Worth 5 points) (03.06 MC) John sells pizzas for $10 each and earns $2 profit per pizza. He pays workers $8 per hour. What is the minimum number of pizzas a worker should produce per hour to be beneficial to John? Two Three Four Five Points earned on this question: 0 Question 11 (Worth 5 points) (03.04 LC) The level of competition least beneficial to consumers is oligopoly monopoly pure competition monopolistic competition Points earned on this question: 5 Question 12 (Worth 5 points) (03.01 LC) Samuel F.B. Morse patented the telegraph automobile audio recorder radio transmitter Points earned on this question: 5 Question 13 (Worth 5 points) (03.06 MC) Graph shows gallons of strawberry ice cream along the horizontal axis and gallons of chocolate ice cream along the vertical axis. Five points are plotted on the graph. Point A shows four strawberry and eight chocolate. Point B shows 15 chocolate and two strawberry. Point C shows four chocolate and twelve strawberry. Point D shows twelve chocolate and eight strawberry. Point X shows twelve chocolate and twelve strawberry. 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? 0 4 12 15 Points earned on this question: 0 Question 14 (Worth 5 points) (03.02 MC) You are starting a lawn care business. Which of the following would be a needed land resource? Lawns Oil Lawnmower Hedge clippers Points earned on this question: 0 Question 15 (Worth 5 points) (03.06 MC) Graph shows gallons of strawberry ice cream along the horizontal axis and gallons of chocolate ice cream along the vertical axis. Five points are plotted on the graph. Point A shows four strawberry and eight chocolate. Point B shows 15 chocolate and two strawberry. Point C shows four chocolate and twelve strawberry. Point D shows twelve chocolate and eight strawberry. Point X shows twelve chocolate and twelve strawberry. Use this image to answer the following question. The ice cream shop wants to produce mostly chocolate ice cream wants to produce mostly strawberry ice cream would operate inefficiently if it produced 6 gallons of both flavors is most efficient when it produces 2 gallons of strawberry ice cream Points earned on this question: 0 Question 16 (Worth 5 points) (03.05 HC) Marginal Cost Analysis Chart: ProPhone Blazer Quantity of Phones Price (in whole dollars) Total Revenue Marginal Revenue Total Cost Marginal Cost Profit (or loss) 0 220 0 0 90 0 1 200 200 200 170 80 2 180 360 160 200 30 3 160 480 120 290 90 4 150 600 120 340 50 5 140 700 100 400 60 6 135 810 90 500 100 7 130 910 100 620 120 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. If ProPhone sells four phones, the company will break even lose money maximize profits make some profit Points earned on this question: 0 Question 17 (Worth 5 points) (03.06 MC) Which of the following is the most profitable investment for a game shop earning $2 profit from every game sold? Vehicle with $120 daily operating cost, delivering 80 games per day Inventory software with $10 daily operating cost, saving 30 games per day from theft Game cleaning system with $5 daily operating cost, increasing sales by 15 games per day Electronic billboard with $20 daily operating cost, increasing sales by 20 games per day Points earned on this question: 0 Question 18 (Worth 5 points) (03.05 MC) Quantity of Jackets Price (in whole dollars) Total Revenue Marginal Revenue Total Cost Marginal Cost Profit (or loss) 0 20 1 20 20 18 2 19 38 33 3 18 54 43 4 17 68 55 5 16 80 68 6 15 90 83 7 14 98 101 8 13 104 120 Based on this chart, what is the marginal cost, in dollars, to produce two jackets? Five 15 18 33 Points earned on this question: 5 Question 19 (Worth 5 points) (03.03 MC) Your friend likes to direct all the activities of his business. It would be best for him to create a limited liability company sole proprietorship corporation partnership Points earned on this question: 5 Question 20 (Worth 5 points) (03.04 LC) The greatest goal in advertising is to convince us "wants" are unnecessary the firm has the best price a particular product is a "need" the product is the same as other firm's products Points earned on this question: 5
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