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The World Economic Forum publishes an annual Global Competitiveness Index that ranks the national competitiveness for leading countries. Suppose that you are working for a company that plans to expand abroad. Examine the Global Competitiveness Index for the most recent 5 years. The "how" this information can be used and a practical examination of the facts related to business decisions for expansion into other countries is important.
How and why you think the WEF actually obtains the rankings of "global competitiveness"? Also let us know how practical you think the nature of the index is in the market and what type of business opportunities can be created with this information? Do you see value of this information as a business manager and if so, how could these factors be converted into a business opportunity? In which cases would you use it for advantage? Support your comments with information from this week's lecture, readings and your research. Illustrate and reinforce your answer with practical examples.
Let px be the price of good X and py be the price of good Y. Assume the income of this individual is strictly larger than 10px Derive the demand for good X and the demand for good Y as functions of the two prices and income.
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1a prove that profit maximization implies cost minimization but not vice versa.b consider the problem of maximizing
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