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Discuss both topics.
Joseph can initially produce 10 pizzas or 5 cakes. After some training from a pizza-making expert, his opportunity cost of making. (a) cakes will remain unchanged (b) 1 cake will become less than 2 pizzas (c) 1 cake will become equal to 1 pizza (d) 1..
Discuss the two ways that product differentiation affects the demand for the product. Give an original example of product differentiation.
A monopoly is considering several units of a homogeneous product as a single package. Determine the optimal number of units to put in a package. How much should the firm charge for this package?
Review the case on loss of personal information and be able to make conclusions based on your findings on the VA case and loss of private information.
Suppose a firm hires labor in a competitive labor market and sells its output in a competitive product market. The firm's elasticity of demand for labor is -0.4. If the wage increases by 20 percent, what will happen to the number of workers hir..
Discuss two distinct ethical issues that you will need to understand and respect as your business expands into your selected country.
In Japan, Toyotas can be produced at 1,900,000 yen and Chevrolets at 1,600,000 yen. In terms of Chevrolets, illustrate what is the opportunity cost of producing Toyotas in each country.
State owned, at least partly, MNCs are becoming common specially those from BRICS countries. What do you think is the future of these types of MNCs? Do they will over the traditional (privately held) MNCs? Explain.
For the CES utility function U(x, z)= x^p + z^p. Derive expressions for the optimal levels of good x and good z as functions of the price of good x, z,pz and income, Y. For simplicity assume that the price of good z is normalized to be 1. What is the..
Rob is working as manager for fax, photo development, and photocopying firm for $25,000 per year (his salary) decides to open her own business. Employee Salaries Supplies Rent Utilities Interest on Bank Loan $45,000 15,000 10,000 1,000 10,000 Calcula..
Suppose that in the hypothetical country of Sore, coffee mugs are distributed based on government policy. This distribution rule gives the residents of Caffistan an incentive to spend time. People in the U.S. state of Iowa eat both corn and potatoes...
Suppose you are hired to manage a small manufacturing facility that produces Widgets. (Part A) You know that you are operating in a monopolistically competitive market, that is, you are a small part of a large market with many competitors in this mar..
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