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WGU Global-Economics-for-Managers Authentic Exam Hub - Global-Economics-for-Managers Test PrepMany candidates find the WGU exam preparation difficult. They often buy expensive study courses to start their WGU Global-Economics-for-Managers certification exam preparation. However, spending a huge amount on such resources is difficult for many WGU Global Economics for Managers (C211, UZC2) applicants. The Latest Global-Economics-for-Managers Exam Dumps are the right option for you to prepare for the Global-Economics-for-Managers certification test at home. WGU Global Economics for Managers (C211, UZC2) Sample Questions (Q89-Q94):NEW QUESTION # 89
Which statement about consumer surplus is true?
A. It measures total production efficiency
B. It is a good measure of economic well-being if policymakers want to satisfy buyers' preferences
C. It represents government revenue
D. It measures the well-being of sellers
Answer: B
Explanation:
InGlobal Economics for Managers,consumer surplusis a key measure ofbuyer welfare, making option B correct.
Consumer surplus equals the difference between what consumers are willing to pay and what they actually pay. Policymakers often use it to assess how market outcomes or policies affect consumers.
Options A and C describe producer surplus and tax revenue. Option D refers to total surplus, not consumer surplus alone.
Thus, option B is correct.
NEW QUESTION # 90
The formula "fixed costs (FC) + variable costs (VC)" represents which quantity?
A. Average cost
B. Total cost
C. Implicit cost
D. Marginal cost
Answer: B
Explanation:
InGlobal Economics for Managers,total cost (TC)is defined as the sum offixed costs (FC)andvariable costs (VC), making option C correct. The formula is:
TC = FC + VC
Fixed costs do not change with output in the short run, while variable costs vary with production. Total cost captures the full cost of producing a given level of output.
Average cost divides total cost by quantity, marginal cost measures the cost of one additional unit, and implicit cost reflects opportunity costs.
Therefore, option C correctly identifies total cost.
NEW QUESTION # 91
What are three characteristics of industries primed for collusion? (Choose THREE.)
A. High product differentiation
B. A price leader
C. Perfect information for consumers
D. Homogeneous products
E. A small number of rivals
F. Free entry and exit
Answer: B,D,E
Explanation:
In Global Economics for Managers, industries that are primed for collusion typically possess structural features that make coordination among firms easier and more profitable. Three such characteristics are a small number of rivals, the presence of a price leader, and homogeneous products, making options A, B, and C correct.
A small number of rivals simplifies coordination. When only a few firms dominate a market, each firm can easily monitor competitors' actions and detect deviations from agreed-upon pricing or output levels. This increases the sustainability of collusive behavior.
A price leader often emerges in oligopolistic industries. One dominant firm sets prices, and others follow, reducing uncertainty and facilitating tacit collusion without explicit agreements. Price leadership helps firms avoid price wars while maintaining higher profits.
Homogeneous products further support collusion because firms compete primarily on price rather than product differentiation. When products are identical, undercutting prices becomes the main competitive tool, making collusion attractive as a way to stabilize prices and profits.
Options D, E, and F reduce the likelihood of collusion. Product differentiation weakens coordination, informed consumers intensify competition, and free entry undermines collusive agreements by attracting new competitors.
Thus, A, B, and C correctly identify characteristics of industries prone to collusion.
NEW QUESTION # 92
What are examples of equity modes of entry? (Choose THREE.)
A. Greenfield investments
B. Franchising
C. Acquisitions
D. Licensing
E. Strategic alliances
Answer: A,C,E
Explanation:
InGlobal Economics for Managers,equity modes of entryinvolve ownership stakes in foreign operations.
Strategic alliances,greenfield investments, andacquisitionsall require equity participation, making options A, B, and C correct.
Strategic alliances often involve shared ownership and joint decision-making. Greenfield investments require firms to build new facilities from scratch, while acquisitions involve purchasing existing foreign firms.
Licensing and franchising are non-equity contractual modes.
Therefore, options A, B, and C correctly identify equity modes of entry.
NEW QUESTION # 93
What are represented by formal institutions?
A. Social norms
B. Cultural beliefs
C. Traditions
D. Laws
Answer: D
Explanation:
InGlobal Economics for Managers,formal institutionsare represented primarily bylaws, making option C correct. Formal institutions include constitutions, statutes, regulations, contracts, and property rights that are officially codified and enforced by governments or legal authorities.
These institutions reduce uncertainty by clearly defining acceptable behavior and outlining consequences for violations. For firms, formal institutions establish the legal framework for business operations, including rules governing entry, competition, taxation, and dispute resolution.
Options A, B, and D describeinformal institutions, which are unwritten and enforced through social mechanisms rather than legal authority.
Therefore, option C correctly identifies laws as representations of formal institutions.
NEW QUESTION # 94
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