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WGU Global-Economics-for-Managers Exam Syllabus Topics:

WGU Global Economics for Managers (C211, UZC2) Sample Questions:

Question 1

What is a key feature of an oligopoly?

A. There is tension between cooperation and self-interest.
B. The actions of any one seller in the market have little to no impact on the profits of all the other sellers.
C. Firms in an oligopoly are independent of one another, much like competitive firms.
D. There is little, if any, motivation for cooperation between firms.

Question 2

When is it best for a firm to increase production?

A. When average cost is minimized
B. When marginal revenue is greater than marginal cost
C. When marginal cost exceeds marginal revenue
D. When total revenue is maximized

Question 3

When supply decreases and demand stays the same, what happens to the equilibrium point of price and quantity? Choose two answers.

A. Price remains the same.
B. Quantity increases.
C. Price increases.
D. Price decreases.
E. Quantity decreases.
F. Quantity remains the same.

Question 4

In which situation is the dodger strategy appropriate for responding to multinational enterprises (MNEs)?

A. There is low industry pressure to globalize, and competitive assets are transferable abroad.
B. There is high industry pressure to globalize, and competitive assets are transferable abroad.
C. There is low industry pressure to globalize, and competitive assets are customized to home markets.
D. There is high industry pressure to globalize, and competitive assets are customized to home markets.

Question 5

When is it best for a firm to restart production?

A. When total revenue is less than total cost
B. When marginal cost is greater than marginal revenue
C. When total variable costs are less than total revenue after a short-term stop
D. When total cost is greater than total revenue

Solutions: