Value marginal tradeoffs, Strategic Management

Assignment Help:

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)


Related Discussions:- Value marginal tradeoffs

Calculate average waiting time, Nation -Wide Bus Lines (NWBS) conducts trai...

Nation -Wide Bus Lines (NWBS) conducts training classes for new drivers. The classroom can hold 35 students. As long as the class size is less than or equal to 35, the training pro

Aim of a transfer pricing system, Q. Aim of a transfer pricing system? ...

Q. Aim of a transfer pricing system? Aim of a transfer pricing system could be tax avoidance Different countries have varying tax rates.  A multi-national company can set up su

Make a histogram and obtain descriptive statistics, For this question you w...

For this question you will analyse box office receipt data for two movies: Harry Potter 1: Sorcerer's Stone and Pirates of the Caribbean 1: Curse of the Black Pearl . Go

Investigation of potential solutions, Investigation of potential solutions ...

Investigation of potential solutions The investigation of potential software solutions must involve what is common practice in the industry. Consider the following questions:

Targeting , targeting strtegics with live examples

targeting strtegics with live examples

Show the advantages of reward systems, Q. Show the Advantages of reward sys...

Q. Show the Advantages of reward systems? ¸  Motivation can be heightened e.g. performance enhanced if paid by results. ¸ can inspire creativity e.g. bonuses paid for staff

Three stage transformation model of inputs, Product manufacturing operation...

Product manufacturing operations can be described as a three stage transformation model of inputs. Inputs Inputs are intangible. Unlike a traditional product, a servic

Explain zero based budgeting, Q. Explain Zero based budgeting? Zero bas...

Q. Explain Zero based budgeting? Zero based budgeting (ZBB) is a method of budgeting, which requires each cost element within the budget to be specifically justified as though

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd