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Maurice has the following utility function:
u(X, Y) = 20X + 80Y - x2 - 2y2
where X is his consumption of CDs with a price of $1 and Y is his consumption of movie videos, with a rental price of $2.He plans to spend $41 on both forms of entertainment. Determine the number of CDs and video rentals that will maximize Maurice"s utility.
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Discuss how the article relates to concepts & theories (international investment) examined (clearly note the concepts & theories being illustrated)
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Professor Michael Porters generic strategy options for competing are the differentiation approach and cost leadership approach. The first involves competing by having the better product and second by having lower cost that ones competitors. Relate..
Identify which of the determinants of demand or supply are affected and also indicate whether demand or supply increases or decreases.
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