Reference no: EM1313508

Q1. Based on your understanding of the gains from trade, do you think which these payoffs actually reflect a nation's welfare under the four possible outcomes?

Q2. "Relationship marketing is not possible in a firm embracing a production orientation." Do you agree or disagree with this statement? Explicate your answer.

Q3. A consumer's annual income increased by $200, causing a 10% increases in the number of units of salmon the consumer demands. If the consumer has an income elasticity of demand for salmon of 1, Illustrate what is her new income? a. $2400. b. $2600. c. $2200. d. $1800