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Which of the following principles underlies the interaction of individual choices?
Marginal analysis is used for “how much” decisions.
Resources are scarce.
There are gains from trade.
People usually exploit opportunities to make themselves better off
Susan plans to either place an order for 12000 gears from a supplier with the least cost quotation or recommend that WSI purchase the necessary equipment and make the gear itself.
Item X is a standard item stocked in a company's inventory of component parts. Each year the firm, on a random basis, uses about 2000 units of X which costs $25 each.
When we participate in business brainstorming meetings, we’re trying to create new ideas; yet we find ourselves thinking down the familiar well-worn path of thought. If we think the way we’ve always thought, we’ll always get the same thoughts we’ve a..
Conduct F-test for the above model using F-table (in the lecture note) as well as p-value (in the ANOVA table) and interpret the results (Basically, you are asked to conduct an F test in two different ways)
What are the three principal forms of business organization? What are the advantages and disadvantage of each. What are the financial intermediaries and what economics function do they perform
What are the three basic financial statements, and what major information does each contain?
A shop owner uses a reorder point approach to restocking a certain raw material. Lead time is six days. Usage of the material during lead time is normally distributed with a mean of 42 pounds and a standard deviation of four pounds. When should the r..
1)How important is it that the GM be good at networking? As a GM, discuss five specific steps you could take to ensure that the least experienced of your sales team rapidly develops networking proficiency.
What type of ISDN is most commonly used by home subscribers for internet access?
What capacity planning approaches should retailers use for Black Friday?
What changes in organization structure might you implement as a result of the information revolution?
Determine what strategists are, and what they do in an organization. Support your answer with at least two examples and detail where applicable.
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