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Define strategic competitiveness and above-average returns. What is the relationship between strategic competitiveness and returns on investment?
Explain why it is important for organizations to analyze and understand the external environment.
Describe the importance of internal analysis to the strategic success of the firm.
Define strategy and business-level strategy. What is the difference between these two concepts?
Define competitors, competitive rivalry, competitive behavior, and competitive dynamics.
Differentiate between corporate-level and business-level strategies and give examples of each.
What is the primary function of banks in the macro economy? How do banks facilitate the circular flow?
Insurance and social policy. You have been hired by an insurance company to help them launch a new product which would pay for long-term care in a nursing home for people at an average cost of $150,000/year. Who would you expect would buy your policy..
What is a trading bloc and a trade concentration ratio, and does it make sense that trade concentration ratios should be greater than +1?
How should a Middle Eastern company evaluate the success of a strategic alliance? Identify relevant criteria and discuss your reasons for including them. Describe why they are relevant across industries, cultures, and geographic locations.
Your son is graduating from high school and is about to enter the work force. He has developed a strong curiosity about our economic system and how it works
Elle's preferences over apples (A) and bananas (B) are represented by the Cobb-Douglas utility function; u(A; B) = AB. Write down the optimization problem. What is the objective function? What are the choice variables? What is the constraint? What a..
Discuss the International Health Economics Association (iHEA). Who are the associated member supporters?
Elucidate why is private property, and the protection of property rights, so critical to the success of the market system.
Suppose Sammie Wall currently has a monopoly on widgets. The inverse demand function for the only customer interested in widgets is [P=40-6Q] and the cost to produced widgets can be described by the following cost function: [C=10+2Q^2] . If Sammie de..
Consider the two-period consumption model of borrowing and saving. Suppose Claire has an income of m1 today and m2 a year from now and can borrow and lend at the interest rate r. She chooses consumption levels c1 and c2 given her well-behaved prefere..
A company specializing in lubrication products for vintage motors produce two blended oils, Smazka and Neftianikov. They make a profit of $5 per litre of Smazka and $4 per litre of Neftianikov. How many litres of each product should they make to maxi..
Suppose a monopolist's demand is given by the function P=25-3Q. Let the total cost of production be 7Q+28 for positive levels of output, and zero otherwise. Illustrate what is the profit maximising output.
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