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1. Managers and employees interact with external customers and build relationships with them, develop new products and services, interact with external suppliers, and produce products and services or services for external customers. Meanwhile, supporting processes provide important resources and inputs into the core processes that are important for managing the activities of a company or organization. Describe the core processes of operational management.
2. In human relations in the workplace, one employee can be motivated to work hard to produce as much as possible, but the other person is only motivated to do something moderately. Describe the three types of motivation theory.
3. Products and services require development. Product development is the creation of products or services that provide greater value to customers. If the product development effort is successful, new products or modified products will be produced that can meet customer needs. Describe 6 (six) types of product development.
The article on China's $4 trillion of reserves indicates that the yuan's depreciation is due to
price ceiling and price floorintroductionprice ceiling is the law that sets a maximum price below the equilibrium
Suppose that c=0, the discount factor is ρ (rho), and demand is constant elasticity, y = p^-η. Write the equilibrium conditions for the competitive firm and the monopoly in this case. For the monopoly equilibrium condition to be sensible, what restri..
Suppose that there are only two firms (Firm A and Firm B) in the market for decorative lampshades. Let the inverse demand function and the total cost function be given by: How many lampshades would be produced by the entire industry? What price would..
Explain why profits get eliminated in competitive markets. Explain why price exceeds marginal revenue in monopoly. Describe how a monopoly sets output and price.
The demand for the product is p = 70-0.7x where x is the quantity for the item sold a $p dollars per piece. Determine the revenue function and the domain of the function. What price should the company charge to obtain the largest revenue? What is the..
What make the for-profit and not-for-profit hospitals having no significant difference in price, cost, and quality of service in the U.S.?
Jerry Stans, a young industrial engineer, prepared an economic analysis for some equipment to replace one production worker
If auditing of financial statements is required for the protection of public investors, should not all PCAOB members be taken from the investment community that uses audited financial statements? Why or Why not?
Consider a large country importing good X in the international market. The country is large enough to influence the international price for good X. Let the initial international price of good X be $100, where the country imports 100 units and produce..
What are some of the policies being implemented to grow these economies long term?
Why is the average fixed cost curve always declining
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