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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 fence enclosure consists of a rectangle of length L and width 2 R , and a semicircle of radius R , as shown in Figure 1. The enclosure is to be built to have an area of 1600 m
Q. Show the Activity based budgeting? Activity based budgeting (ABB) uses cost 'drivers' for different support resources consumed e.g. machining, quality control or admini
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Question 1: (a) What is diversification? Distinguish between the different types of diversification. (b) Give the advantages and disadvantages of these types of diversifica
(a) XUZ Company produces readymade garments for men. The purchasing officer collects the following information:- Annual demand for Jeans 40,0
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 1: An organisation has to scan the external environment to identify possible opportunities and threats and the internal environment for its strengths and weaknesses be
QUESTION (a) Any coherent strategy should have four important elements (Saloner al). Write short notes on each of the four elements (b) Modes of Strategic Management are the
Question: (a) What do you meant by the following terms: • Information System (IS) strategy, • Information Technology (IT) strategy? (b) Explain five approaches to IT st
Question: (a) Briefly discuss the following Maintenance practices and list some of the techniques used to implement these practices in the work environment (i) Predictive
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