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David purchases two goods: bananas (x) and tea (y). Her indifference curves are smooth and convex. Suppose the price of tea decreases. On a graph, illustrate the income and substitution effects of the price change on Diana's optimal consumption bundle for each of the following cases:
(a) Tea is an inferior good for Diana, but not a Giffen good.
(b) Diana's income elasticity of demand for tea is zero.
(c) Bananas and tea are both normal goods.
Tide laundry detergent maintains the same market share it had 50 years ago because of the sales contributions from its various line extensions. It can be said that Tide employs a preemptive cannibalization strategy in generating line extensions. E..
Use your serious thinking skills as well as discuss what you can deduce from this data. Please think about both behaviours as well as processes and linkage to the quality management program.
it is common to raise cows by using less land also more labour than Americans use to grow wheat. Can we still say which raising cattle is land-intensive compared with farming wheat? Explain why or explain why not?
There are a number of questions which we should ask ourselves with regard to an organization we have developed for any activity. What are some of these questions managers should ask themselves while evaluating organization.
University Hospital has been concerned with the number of errors found in its billing statements to patients. An audit of 100 bills per week over the past twelve weeks revealed the following number of errors:
ROC Engineering, a Chinese shipbuilding company, agrees to build a fleet of submarines for the Sri Lankan navy, for which it will be paid in Sri Lankan currency.
assuming that Andretti Company has sufficient capacity to produce 90,000 Daks each year without any increase in fixed manufacturing overhead costs
Discuss how these management theories apply or do not apply to your current work environment or one in which you've worked in the past. Examine the development of management theories over the last 20 years. How has this reflected the changing busin..
The United Way of America has been explained as a mutual fund for charitable reasons. That is because its 1400 local chapters support thousands of community bureaus, especially in the area of health and human services.
Suppose you own a bicycle company and encourage employees to write positive reviews about your company. Is this unethical? Use both categorical imperative and utilitarian perspectives.
a) Calculate the net present value assuming that the benefits are realized at the end of each of the three years. b) Calculate the net present value assuming that the benefits are realized at the beginning of each of the three years.
How has the Internet affected price considerations? Analyze several different industries, such as airlines, sales, hotel reservations, and book sales.
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