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Managerial Economics and Business Strategy 8th Edition Baye Test Bank
Managerial Economics and Business Strategy 8th Edition Baye Test Bank
Managerial Economics and Business Strategy 8th Edition Baye Test Bank
1. In a competitive market, the market demand is Q d = 60 - 6P and the market supply is Q s = 4P. A
A. shortage of 30 units.
B. shortage of 15 units.
C. surplus of 30 units.
D. surplus of 12 units.
2. In a competitive market, the market demand is Q d = 60 - 6P and the market supply is Q s = 4P. The
A. 6.
B. 7.
C. 8.
D. 9.
2-1 2-1
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A. income side.
B. demand side.
C. supply side.
D. seller side.
5. Which of the following would not shift the demand for good A?
C. Consumer income.
A. demand of good A.
B. demand of good B.
2-2 2-2
© 2014
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2014
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7. A change in income will not lead to:
A. designer dresses.
B. lobster.
D. expensive automobiles.
2-3 2-3
© 2014
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2014
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by McGraw-Hill
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Education.
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blue eyes, he went away.
As he disappeared through one door-way of the saloon, the figure
of a woman, clad in plain dark robes, entered by the other, and threw
a quick, searching glance around the place.
“I’m in search of a girl named Stella Gladstone,” she said, in sharp,
incisive tones, as her eyes fell upon our lone Star.
The young girl took a step forward, her earnest glance fastened
upon that plain yet not unkind face.
“I am Stella Gladstone,” she said, simply.
The woman looked at her keenly for a moment, and her homely
countenance softened into something like pity as she noticed her
delicate beauty. Then she said, bluntly:
“Well, miss, if I was ever thankful to set eyes on anybody, I am on
you, or I’m much mistaken. I’ve lain awake o’ nights thinking of you,
ever since we heard that the vessel in which you sailed was lost at
sea. If I got asleep at all, I’d wake with a start from horrid dreams,
where I seemed to see you drowning and heard your dreadful cries.
Two days ago another vessel came in, bringing in some of those who
had been wrecked. We got the news in the paper the night before
they landed, and madam—Mrs. Richards, my mistress—sent me
down posthaste next morning to see if you was among them. Of
course you wasn’t, so I went home and dreamed all night again. Last
night news came that more had been rescued, and would land at this
pier this morning, so I was posted off again to find you if possible.
Well,” she continued, heaving a deep sigh of relief, “I’ve got you at
last, and I hope I sha’n’t dream about you to-night. Of course you
ain’t overstocked with baggage?” she concluded, with a grim smile.
“No, I have nothing; everything was lost,” Star replied, while her
large, earnest eyes studied her companion’s face, and she wondered
what relation she bore to her, and who “Mrs. Richards,” “madam,”
and “my mistress” were.
“More’s the pity for you, then, or I’m much mistaken,” the woman
said, with a peculiar compression of her thin lips.
Then she added, with more of animation than she had yet
displayed:
“But, bless me! I suppose you’d like to know who I am, and won’t
be much surprised when I tell you my name is Blunt; my name is like
my nature, and I’m madam’s—Mrs. Richards’ housekeeper. A pretty
time of it I have, too, or I’m much mistaken; though one can put up
with considerable where their bread and butter and ‘fixin’s’ are
concerned. But come, it’s time we were off. Have you had your
breakfast?” she concluded, seeing that Star had grown rather pale,
and thinking she might be faint and hungry.
“Yes’m,” she answered, while a wistful expression stole into her
eyes, and she stepped back and looked over the railing into the
dining-room below, hoping to see Mr. Rosevelt. She felt as if she
could not go away without saying farewell to her kind fellow-traveler.
But he was nowhere to be seen, and she saw that Mrs. Blunt was
impatient.
“If you please,” she said, timidly, “might I just wait a few minutes
to say good-by to a gentleman who has been very kind to me?”
“Lor’, child! it’ll be no use; you’ll never find him, and almost
everybody has gone already. Probably he’s in the hands of the
customs, having his trunks overhauled, and won’t want to be
bothered,” Mrs. Blunt returned, good-naturedly, but really very
anxious to get back to her interrupted duties.
“But he has no trunks; he was on the wreck with me, and he told
me to wait here for him,” Star persisted, almost ready to weep at the
thought of going without seeing him.
“I’m sorry, miss, but madam will be having one of her tantrums if I
am not back shortly, as there’s company to dinner to-day, and it’s
nearly ten o’clock now,” Mrs. Blunt, returned, a trifle indifferently.
She turned as she spoke and led the way from the place, and Star
was forced to follow her, striving hard to repress the sobs that were
struggling in her bosom over her disappointment; and when, half an
hour later, Mr. Rosevelt came to seek her, he was as much disturbed
to find her gone as she had been to go.
He made inquiries regarding her, and was told that some one had
come for her and taken her away, but no one knew whither she had
gone.
This relieved his mind somewhat as to her safety, but did not
lessen his disappointment at thus losing sight of her and not
knowing where to seek for her; but he was forced to go his way and
bear it as he could.
Mrs. Blunt and her sad-hearted charge walked quickly from the
steamer, and having no baggage, she immediately called a carriage,
and hurrying Star into it, gave her order to be driven to a Brooklyn
ferry.
Crossing the river, they took another carriage, and a half hour’s
drive brought them to a stately dwelling in a fashionable portion of
the city.
“There, child!” Mrs. Blunt ejaculated, as the carriage stopped;
“we’re home, and I’m glad of it, for you’ve caused me a heap of
anxiety first and last, or I’m much mistaken; but you’re safe and
sound, thank Heaven, though you’re rather delicate-looking for what
I imagine is before you;” this “much mistaken” individual prepared
to alight, casting a look of honest pity into the face of the fair girl as
she did so.
Star looked surprised at this somewhat ambiguous speech, and
would have liked to ask what it meant, but the woman gave her no
opportunity, paying for and dismissing the carriage in her quick,
energetic way, and then led her around to a side door and entered
the mansion.
Beckoning Star to follow her, she passed through a lofty hall and
up a wide, thickly carpeted staircase, where on every hand there were
evidences of wealth and luxury.
Rapping upon a door at the front end of the upper hall, a voice
bade her enter, and the woman opened it and passed in, and Star
following, saw a handsome woman of perhaps forty years, dressed
with great elegance and taste, sitting in a low rocker by a window.
She turned an inquiring glance upon Mrs. Blunt as she advanced.
She could not see Star, as she was directly behind her and hidden by
her tall figure.
“Well, madam, I’ve found her at last, and here she is,” she said, in
a satisfied tone, and stepped one side to present the young girl.
Madam heaved a sigh—it might have been of relief, it might have
been the reverse; no one could have told which from the expression
of her face—as she bent a critical glance upon the young stranger
who had come to find a home in her house.
She arose, came forward, and studied the fair, downcast face; for
Star, after the first glance, knew she would receive no tender
welcome from that cold, proud woman, and her heart sank like a
dead weight in her bosom.
Something like a frown gathered on the woman’s brow as she
marked her exceeding loveliness.
“Well, Stella, you have had a hard voyage,” she began, in smooth,
cool tones, which made Star shrink from her and shiver slightly, they
were so distant and devoid of feeling. “I am glad, however,” she went
on, “that you are safe, and I hope, now that you are here and I am to
give you a home, you will do your best to please me. You look very
much like your mother as I remember her, although I trust your face
will not prove as great a misfortune to you as hers did to her.”
This last statement was made with some severity. Evidently Mrs.
Richards was not pleased to find the new arrival so beautiful in face
and figure.
“Mamma unfortunate! How?” Star asked, surprise loosening her
tongue.
“Is it possible that you do not know how she disgraced herself and
family?” madam demanded, sternly, as if in some way Star was to
blame for said disgrace. “Have you never been told how a poor
clergyman once preached in the church where your mother attended
worship, fell in love with her pretty face, and finally persuaded her to
marry him, to the utter disregard of her whole family, who were
highly respectable people.”
Star’s cheeks glowed hotly beneath this tirade, and her blue eyes
flamed at this slur upon her idolized parents.
“I do not consider mamma’s marriage anything of a ‘misfortune’ or
a ‘disgrace,’” she answered, with something of hauteur, and speaking
very distinctly. “She was very happy all her life, and papa was a
splendid man—a superior man.”
Mrs. Richards smiled in a lofty kind of way, as she returned: “It is
very natural, I suppose, that you should be your father’s champion;
nevertheless he was not, socially, your mother’s equal, and she
degraded herself in the eyes of all her family by marrying a penniless
preacher, and a dissenter, too.”
Star’s lips parted again, as if about to utter an indignant protest to
this statement; but, with a wave of her white hand, Mrs. Richards
coolly dismissed the subject and turned again to Mrs. Blunt.
“I suppose everything belonging to her was lost,” she said.
“Yes, madam; the poor child has nothing in the world save what
she has on,” that woman answered, with a compassionate glance at
Star.
“That is awkward; but you can take her to the sewing-room and tell
Miss Baker to measure her for a couple of dresses; tell her to make
them from that piece of print that I purchased yesterday. Can you
sew, Stella?” she asked, turning again to the young girl, whom she
had not even invited to be seated.
“Yes’m; mamma taught me to sew when I was quite young, and I
have attended to my own wardrobe, with the aid of a seamstress,
ever since she died.”
“That is well. You can then assist Miss Baker about your dresses,
and when they are completed I will arrange about your other duties.
You can go now. Mrs. Blunt will show you the way to your room,
where you can lay aside your shawl and hat and then go to the
sewing-room.”
Star gave the woman a stare of blank astonishment.
She had been most delicately and tenderly reared; her education
had been carefully superintended by her father, and the constant
companionship of her refined and intellectual mother had made her
a little lady in every sense of the word. She had been taught to be
kind and courteous to every one; to sympathize with people in
trouble; to rejoice with them in prosperity; and now this woman—
this cousin to her mother—this human being, whom she knew her
mother once saved from a dreadful death—had received her, after
her long and perilous voyage, her suffering and hardships, in this
unfeeling, indifferent way.
She had not even taken her hand at greeting; she had looked her
over and inspected her with a critical stare, as if she were some beast
of burden that she was buying to toil for her. She had not offered her
the commonest hospitalities of her house, or given her one kind word
or look.
She had instead simply, and in the coolest manner possible,
commented on her marvelous escape from death, and then insulted
her by speaking disparagingly of her parents; and now she had
dismissed her from her presence as if she had been a menial, ordered
two print dresses made for her, without a thought apparently of
other clothing so necessary to her after being so long without a
change of any kind.
She took a step forward, her slight form drawn proudly erect, the
hot, indignant blood surging over neck, face, and brow, and was
about to demand the meaning of this strange treatment, when Mrs.
Richards, seeing her intentions, said, haughtily, and in a tone not to
be mistaken:
“I told you that you could go, Stella. Did you understand me?”
With a heaving bosom and flashing eyes, Star bowed with a sort of
stately grace, turned and followed Mrs. Blunt from the room with the
step of a queen; but when the door was shut behind them, she
stopped and confronted that good though eccentric woman with an
aspect which, to say the least, astonished her.
CHAPTER V.
BITTER DISAPPOINTMENT.