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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)
Recommended process to develop a performance measurement system 1. Senior management need to determine a clear vision of the change that will be required and demonstrate comm
A university has a small dorm with four rooms, in which three sophomores, A, E, and J, and a freshman, C, are residing. Not being equipped with gas/electricity meters for individua
EIGHT STAGE PROCESS
Question 1: Read the article in the assigned Reading, “Management: A Journey in Progress.” Which do you think are the most enduring management principles and management responsibil
The group consolidated financial results would normally be effected, if an internal buyer uses their autonomy and makes a decision to buy outside the group, rather than buy interna
Q. Show the Merits of residual income? Merits of residual income (RI) - Consistent or goal congruence with profit maximisation e.g. an enforced measure of profitability.
Select an existing business that has recently launched a new product. You may also use your own company. Consider how the organization's marketing strategy has benefited the new pr
You are Pam, Vice President of Marketing for Superior Products, Inc. You joined the company two months ago, replacing an individual who hadbeen the VP of Marketing for the comp
Jidoka - Quality At Source Jidoka was first introduced by Dr Taichi Ohno into the Toyota Motor Company in the early 1960s. In the process of producing an efficient material fl
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
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