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2011 Midterm MCQ.pdf

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University of Toronto Scarborough
Steve Joordens

University Of Toronto at ScarboroughMGTA03Introduction to Management I MidTerm TestMarch 12 2011MULTIPLE CHOICE QUESTIONS BOOKVERSION 1 FamilyGiven NameName Please print NEATLY Student Number INSTRUCTIONS1On the SCANTRON answer sheetPRINT your family namePRINT your given name PRINT your student number2 On the SCANTRON answer sheetfill in all the appropriate bubbles corresponding to your name fill in all the appropriate bubbles corresponding to your student number3 Instructions 1 and 2 above are an integral part of the examination Failure to comply with these simple instructions causes additional work delay and confusionIf you fail to complete the relevant sections of the SCANTRON sheetcorrectly and fully you will have 5 marks deducted from your grade on this exam4 When recording your answers on the SCANTRON sheet make sure you aUse a pencilbFill in the SCANTRON bubbles neatly and completelycErase any changes as completely as possibledBe very careful to place each answer in the correct space5 You have 90 minutes to write the examThis booklet consists of 44 multiplechoice questionsMGTA03Midterm TestMarch 12 2011MULTIPLE CHOICEChoose the one alternative that best completes the statement or answers the question 1 What is the version of the exam you are writing Correct Answer is A a Version 1 b Version 22 Which one of the following is not a characteristic of an oligopoly a great product differentiationb prices differ greatlyc few sellersd many buyers 3 Of the following which is a way in which monopolistic competition differs from perfectcompetitiona There are more sellers in a market characterized by monopolistic competition b It is easier for sellers to enter a marketindustry characterized by monopolistic competition c In a market characterized by monopolistic competition a few firms have some controlover price d None of the above4 Entrepreneurs are important because they a provide all of the capital to start new businessesb assemble and organise the resources to start new businessesc both a and b are trued neither a nor b is true 5The price of cooking oil rises 5 Tim Hortons then raises the price of its donuts by 9 At thesame time the Highland Creek Bakery raises the price of its donuts by 5 This kind of pricingstrategy would suggest these businesses are engaged in aperfect competition ba monopoly can oligopoly dmonopolistic competitionVersion 1Page 2 of 11
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