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Q1. Why does Michael Porter admonish companies not to change their competitive positioning any more frequently than once every four or five years? Why do some firms protest when given this strategic advice in today's economy?
Q2. Describe some forms of private spending that represent consumption and some forms that represent investment. The national income accounts include tuition as a part of consumer spending. In your opinion, are the resources you devote to your education a form of consumption or a form of investment?
What is the marginal rate of substitution (MRS) and why does it diminish as the consumer substitute's one product for another. Use examples to illustrate.
A competitive firm that is profit maximizing pays a wage. The firm has started marketing its new product.
If she neither borrows nor lends, which project has the higher present value at the interest rate 50%. Which has the higher present value at an interest rate of 5%.
The biggest difference between Microsoft and software retailers is the market structure in which they operate.
Find the mean and standard deviation of team payroll for the 14 American League and the 16 national League teams.
Mustard and mayonnaise are substitutes. Mustard and relish are complements. Mustard is a normal good. During the summer, about 50% of all mustard was recalled by manufacturers and removed from store shelves.
The cost leadership approach implicates competing by having a lower cost than one's competitors
Differentiate the equilibria of model. Also the classification should be a function of the bliss point of the candidates.
Analyze the USA financial meltdown that happened in 2008-2009. This crisis was partially caused by the reward systems that were in place for participants in the financial system. Identify the major participants in the financial system.
Why might these firms agree to form a cartel. If such a cartel is formed, use the prisoner's dilemma to explain why it may or may not survive.
Suppose the firms compete in quantities. If firm 1 deviates from collusion in one period, what is the profit of firm 1 in that period in subsequent periods.
The type of manuscript for this book was typed for free by a friend. Had I hired a secretary to do the same job.
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