Test Bank Managerial Economics and Strategy, 3rd Edition Jeffrey M Perloff A+

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1.1 Managerial Decision Making

1) Microeconomics studies the allocation of

A) decision makers.

B) scarce resources.

C) models.

D) unlimited resources.

Answer: B

Skill: Definition

AACSB: Analytical Thinking Status: Old

2) Society faces trade-offs because of

A) government regulations.

B) the profit motive.

Available Answer

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