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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)
Q. Explain Activity based management? Activity based management (ABM) is about satisfying customers whilst making fewer demands on internal resources. The aim is that once cos
Excel is often used to perform "what-if" analyses. In these, a model that depends on a number of variables is constructed, and the outcomes predicted by the model are determined fo
Assume the population of Darwin in 50 yrs will be 2million. There will be gas related industries in the surrounding areas of Darwin. Mining activities in the Northern Territory wil
QUESTION (a) Organisations are systems that exist in the context of an external environment, an interdependent relationship, interact with it in order to survive and grow. Any
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Have you ever been involved in an effort to introduce a new product, service or technology in an organization? If so, share your experiences with the class. Provide the class wi
Question: (a) The prevailing business environment is continuously changing with respect to the emerging complexities in the development and use of new equipment, technologies a
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