Roger decision to invest in chili farming in mexico

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Reference no: EM133637403

Questions

1. How does the concept of scarcity apply to Roger's decision to invest in chili farming in Mexico?

2. How does the law of demand relate to Roger's experience in selling chilies at Central de Abasto?

3. What is the opportunity cost for Roger in choosing to invest in chili farming instead of continuing his traditional fish business in Billingsgate?

4. How does the concept of market equilibrium play a role in Roger's decision to set the price for chilies?

5. How does the principle of profit maximization guide Roger in negotiating with buyers for his chilies?

6. How does the lack of information about competitors' prices impact Roger's ability to set optimal prices for his chilies?

7. Take note of 5 different products and their prices in pesos. Note whether the price is per unit weight, per item, etc.

Reference no: EM133637403

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