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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)
In response to the start of the credit crisis, EU Finance ministers agreed a set of conclusions in October 2007. These initiatives were grouped into the so-called Economic & Financ
A squeeze on credit fall in house prices and tumbling stock markets are all reinforcing a slump in consumer confidence, consumption and investment in the EU FS sector. In order to
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QUESTION 1 The most important purpose of strategic control is to help Top Management achieve organizational goals through monitoring and evaluating the strategic management pro
Mensa
The following essay will discuss how the popular trend of globalization is affecting the communication style and management of an organization. There will be explanations provided
TFX is a multinational company which manufactures and retails branded designer clothing with business units in a number of different countries globally. Up unless now, each of the
Differences of EVA and RI EVA uses the replacement not historical accounting cost of assets. Profit calculated under both methods are different e.g. with EVA the repla
Question: The steps in value chain analysis are to examine the company's primary activities and support activities. (a) Elucidate the primary and support activities. (b)
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