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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)
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Question: (a) Explain clearly how businesses may adopt key principles of Total Productive Maintenance in order to create a safe and productive environment. (b) Describe in d
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A Strategic Vision is Differ from a Mission Statement: Whereas the chief concern of a strategic vision is with "where we are going & why", a company's mission statement usua
Ask What advantages are there to employees as stakeholders are available in Germany that are not provided to employees in US companies? In the United States, how do employees let
A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper
Comparison of Conventional and JIT Wisdom JIT philosophy Ideal lot size is 1 Balanced production is best Inventory is wasteful Eliminate waste Handle only so
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Akash Engineering Ltd. (AEL) had achieved sales of Rs. 3440 lakhs during the year 2004-05 against sales of Rs. 1209 lakhs previous year. The sales this year were highest ever achie
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