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Suppose a consumer uses his income to buy food (F) and clothing (C) (note, his preferences are to not go without either). The current composite market price of food is $2.00 per unit and the current composite market price of clothing is $5.00. The consumer is currently exhausting all of his income and consuming a bundle (F,C) such that his Marginal Rate of Substitution (?C/?F = MUF/MUC) is 3.
Draw the consumer's budget constraint and indifference curve to illustrate this condition. Is the consumer maximizing his utility? If so, explain why. If not, explain why not, explain how the consumer should adjust his purchases, and illustrate the result graphically.
Explain what are some recent trends that impact the field of operations management and pay attention to trends in outsourcing and the all-consuming focus on productivity improvement.
Determine whether the organization embodies the principles and values of conscious culture and management and its relevance to improving organizational function.
The owners of Speedy Logistics, a company that provides overnight delivery of documents, are considering where to locate their new facility in the Midwest.
What is the common information effect and why is it problematic for decision making in teams?
Write a 500-750 word paper which identifies the major characteristics of services compared with goods and describe explain how technology is changing the customer service and service offerings.
Calculation of the total available market in dollars and do you have any suggestions about how to actually calculate the TAM for their service?
Show the reasons why there is optimism for continued union success and why do employers resist the formation of unions in their companies? Provide at least four reasons.
Describe the drivers for causing Haier to shut down the company's central warehouse
The fact that most interviews do not meet the ones perspectives in their preparation for answering the questions, interviewees do fail. Why is it recommended to spend some time getting comfortable with what you might be asked?
What is the difference between revenue and profit and what is the difference between standard of living and quality of life?
And the semester has officially began! I hope you have already started to read Search Inside Yourself (SIY) and it is challenging your current ways of thinking. Some of you may believe whole-heartedly in what this book advocates for, and others ma..
Managers do suffer from many tensions in the implementation of ethics principles. State and explain five of these tensions, their sources, and their implications for decision-making. Give specific examples.
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