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Define strategic competitiveness and above-average returns. What is the relationship between strategic competitiveness and returns on investment?
Explain why it is important for organizations to analyze and understand the external environment.
Describe the importance of internal analysis to the strategic success of the firm.
Define strategy and business-level strategy. What is the difference between these two concepts?
Define competitors, competitive rivalry, competitive behavior, and competitive dynamics.
Differentiate between corporate-level and business-level strategies and give examples of each.
If the price elasticity of demand is E = -1/2, a 10% increase in the price will
Assume that an individual’s preferences is represented by the following utility function: U(X,Y) = (X^α)(Y)
Boris budgets $9 weekly for his morning coffee with milk. He likes it if it is prepared with 4 parts coffee, 1 part milk. Smith likes cashews better than almonds and likes almond better than walnuts.
Suppose Michelle makes a trip to a candy store where she intends to purchase two goods: gummy worms (g) and donkeys (d). Her utility function is U = gd. Suppose the price of gummy worms is 2 and she has $200 in income. Derive an expression for her de..
Describe the economic status of South Korea. What types of economic activities are most prominent there? What factors have led to your region's growth or lack thereof?
Suppose the demand and supply curves for product are given by: Qd = 500 - 2P and Qs = -100 +3P. I need to graph the supply and demand curves, b. find equilibrium price and quantity,
Assume that imports increase supply. In terms of demand, supply and consumer surplus, why would consumers prefer more imports? Adam Smith studied a pin factory and found that 1 individual doing all tasks necessary to make a pin could only make severa..
Describe how each of these activities affects government, households, and businesses. Illustrate flow of capital starting from one entity to another for each activity.
Le Crueset is a French restaurant that recently increased the average price of its meals by 4%. As a result, the number of customers dropped by 3%. Based on this information, what is the price elasticity of demand for meals at Le Crueset? How will th..
Which of the following is NOT an example of consumer behavior consistent with the standard assumptions of microeconomic theory?
If the Fed simultaneously raises the discount rate and the reserve requirement, the money supply will:
Exports are largely responsible for China’s recent rapid economic growth. The country, capitalizing on its cheap labor force, has focused on converting raw materials into products that are exported to developed countries like the United States. Are t..
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