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Problem: Both person A and person B are purchasing bananas and apples from the same supermarket, where the price of a banana is $2 and the price of an apple is $1. Person A is currently consuming 2 apples and 15 bananas, while person B consumes 30 apples and 3 bananas.
a) How many apples do we have to give each individual in return for taking away one banana to keep the person at the same utility? (Assume that changes in consumption are small enough so they do not alter marginal utilities)
b) How should a study value marginal tradeoffs between goods that are exchanged in a market economy? Is it appropriate to use one rate even though people might have very different preferences?
Problem: For each of the following social choice methods, which of Arrow's axioms
a) the Pareto criterion
b) plurality-rule voting (of several choices, the one with the most votes wins)
c) majority voting
d) pulling a choice out of a hat (random)
A new technique to strategic management was developed in early 1990's by Drs. Robert Kaplan (Harvard Business School) and David Norton. Kaplan and Norton explain the innovation of
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What Is Strategy & Why Strategy Is Important? Managers at all companies facade three innermost questions in view strategically concerning their companies' current circumstances
Discuss the following quotation and please provide examples. "Enterprise Architecture frameworks such as the Zachman Framework are essentially conceptual skeletons tha
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An electronics firm is presently manufacturing an item that has a variable cost of $0.50 per unit and a selling price of $1.00 per unit. Fixed costs are$14,000 per month. present
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