1.The wise use or utilization of money and time. a. Eng'g. Economics b. Business c. Investment d. Economics e. none of these 2. This occurs in a situation where a commodity or a service is supplied by a number of vendors and there is nothing to prevent additional vendors to enter the market. a. Perfect competition b. Oligopoly C. Monopoly d. Elastic demand e. none of these 3. Is the simplest fom of business organization. a. Sole proprietorship C. Enterprise b. Partnership d. Corporation e. none of these 4. The quantity of a certain commodity that is bought at a certain price at a given place and time. C. Price d. Profit a. Demand b. Barter e. none of these 5. The quantity of a certain commodity that is offered for sale at a certain price at a given place and time. C. Price a. Demand b. Supply d. Profit e. none of these 6. A contractor has a job which should be completed in 100 days. At present he has 80 men on the job and it is estimated that they will finish the in 130 days. Of the 80 men, 50 are paid P 12/day, 25 at P 18/day and 5 at P 25/day. How many more men should the contractor add so he can complete the work on time. b. 25men C. 24men d. 40 men e. none of these a. 20 men 7. A construction firm won a bidding to supply gravel materials for a masonry dam project. It faces a situation, where to source out the materials. Help the firm made a decision. The masonry dam requires 200,000m' of gravel for its construction. The firm found two possible sources for the gravel with the following data as listed below. Source B: Katipuna 3.20km Source A: Polanco Average distance, gravel pit to dam site Gravel cost per m'at pit Purchase price of pit Road construction necessary 5.0km P1,000.00 none none P 800,000.00 P450,000.00 50,000 m' P 450.00 none Overburden to be removed at P4,200.00 per m' Hauling cost per km per cubic m 80,000 m P 400.00 How much is the total cost for source A: Polanco b. Р 130.75M C.P 661.20M d. P 660.21M e. none of these а. Р 792M 8. P 50,000 borrowed at a simple interest of 15 % for 75 days, becomes how much at the end of the period? а. Р 51,562.50 b. P 50, 145.65 C.P 52,203.09 d. P 52.200.00 e. none of these 9. Mr. Cruz borrowed money from the bank. He received from the bank P1,340 and promised to pay P1,500. How much is the simple interest? C.P 1,500 а. Р 1,200 b. Р 3,600 d. P1,600 e. none of these 10. An engineer promised to pay P 36,000 at the end of 90 days. He was offered a 10 % discount if he pays in 30 days. Find the rate of interest. а. 65.78 % b. 75 % C. 66.67 % d. 67.80 % e. none of these

1.The wise use or utilization of money and time. a. Eng'g. Economics b. Business c. Investment d. Economics e. none of these 2. This occurs in a situation where a commodity or a service is supplied by a number of vendors and there is nothing to prevent additional vendors to enter the market. a. Perfect competition b. Oligopoly C. Monopoly d. Elastic demand e. none of these 3. Is the simplest fom of business organization. a. Sole proprietorship C. Enterprise b. Partnership d. Corporation e. none of these 4. The quantity of a certain commodity that is bought at a certain price at a given place and time. C. Price d. Profit a. Demand b. Barter e. none of these 5. The quantity of a certain commodity that is offered for sale at a certain price at a given place and time. C. Price a. Demand b. Supply d. Profit e. none of these 6. A contractor has a job which should be completed in 100 days. At present he has 80 men on the job and it is estimated that they will finish the in 130 days. Of the 80 men, 50 are paid P 12/day, 25 at P 18/day and 5 at P 25/day. How many more men should the contractor add so he can complete the work on time. b. 25men C. 24men d. 40 men e. none of these a. 20 men 7. A construction firm won a bidding to supply gravel materials for a masonry dam project. It faces a situation, where to source out the materials. Help the firm made a decision. The masonry dam requires 200,000m' of gravel for its construction. The firm found two possible sources for the gravel with the following data as listed below. Source B: Katipuna 3.20km Source A: Polanco Average distance, gravel pit to dam site Gravel cost per m'at pit Purchase price of pit Road construction necessary 5.0km P1,000.00 none none P 800,000.00 P450,000.00 50,000 m' P 450.00 none Overburden to be removed at P4,200.00 per m' Hauling cost per km per cubic m 80,000 m P 400.00 How much is the total cost for source A: Polanco b. Р 130.75M C.P 661.20M d. P 660.21M e. none of these а. Р 792M 8. P 50,000 borrowed at a simple interest of 15 % for 75 days, becomes how much at the end of the period? а. Р 51,562.50 b. P 50, 145.65 C.P 52,203.09 d. P 52.200.00 e. none of these 9. Mr. Cruz borrowed money from the bank. He received from the bank P1,340 and promised to pay P1,500. How much is the simple interest? C.P 1,500 а. Р 1,200 b. Р 3,600 d. P1,600 e. none of these 10. An engineer promised to pay P 36,000 at the end of 90 days. He was offered a 10 % discount if he pays in 30 days. Find the rate of interest. а. 65.78 % b. 75 % C. 66.67 % d. 67.80 % e. none of these

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter15: Imperfect Competition

Section: Chapter Questions

Problem 15.11P

See similar textbooks