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2 enterprises (1 and 2), are in competition with each other by choosing advertising expenditures. The payoff functions of the two enterprises, if enterprise 1 chooses to spend x and enterprise 2 chooses y to spend in market 1, are given by
u1 (x; y) = 1 + (x - y) (2 - 3x)u2 (x; y) = 1 + (y - x) (1 - 3y)
a) What is the best response functions of enterprise 1 and enterprise 2.
b) Suggest the Nash equilibrium levels of expenditures by each enterprise?
What do you understand by “line balancing”? What happens if balance doesn’t exist
Introduction of Operations Strategy The term strategy, given in the Collins English Dictionary is, 'the art or science of the planning and conduct of a war; generalship; a lon
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Product Product is anything that can be offered to a market that might satisfy a want or need. There are two concepts of product narrow concept and wide concept. In its narrow
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Why is information technology such an important element when entering into a VMI agreement? Explain using examples from Eka Chemicals and Interfast.
Which among the following frameworks of ethics becomes less practical with an increase in the number of people, animals, etc. that could be affected by decisions made?
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(EOQ model) Division X is growing and is in constant need of trained employees. The demand rate for trained employees is relatively constant at 5 each month. The division can run a
Product Life Cycle graph
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