Practice Test Economics 01 Midterm 2 Fall 2013 Professor K.C. Fung Multiple Choice: Choose the best answer 1. Suppose price of baguette is $1 and price of sushi is $5‚ then to maximize total utility‚ a rational consumer should consume until: a) the marginal utility of baguette divided by the marginal utility of sushi is 1 b) the marginal utility of baguette divided by the marginal utility of sushi is 5 c) the marginal utility of baguette divided by the marginal
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1. Read the Country Focus (on page 164 in hill’s textbook) on “Is China a Neo-Mercantilist Nation?” a) Are the claims that China is following a neo-mercantilist policy valid?” why or why not? Yes‚ the claims that China is following a neo-mercantilist policy are valid because China has been trying to maintain a trade surplus (which is the definition of neo mercantilist); placing high import tariffs on certain goods (refer to qtn 3). Besides‚ the cheap currency encourages domestic investments
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Brand Kikuet is a Puerto Rican company founded in Canóvanas‚ 31 years ago. In 1979‚ Enrique Mangual gave birth to this business. The company is engaged in the manufacturing of frozen food. Over the years‚ Kikuet has expanded not only nationally but also in some of the states of America. Nowadays‚ it is the biggest line of congealed products in the island. Within the products made by this company we can find: croquets‚ turnover pies‚ fritters‚ corn rolls‚ fried sweeten plantain‚ fillings‚ fried cheese
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like "The earliest Vedas"‚ the texts from the first millennium B.C‚ says about the strict taboo in beef consumption as well as the ritual slaughtering of cows. By 200 AD‚ the ritual of slaughtering and the consumption of beef have been made restricted and the Brahman priesthood exhorted the people as well to worship the cow and pay respect to them. By 1000 A.D‚ Hindus are all forbidden to eat beef. Henceforth‚ the cow taboo has taken its modern form and from then on‚ the Hindus follow by this ritual
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Chipotle distinguished in its filing that it also anticipates prices of beef‚ dairy‚ and chicken to be high in 2014. The chain’s “sustainably raised” food belief generally puts it in a tougher position than fast-food competitors. Chipotle already deals with failures to source enough sustainably raised beef to meet demand and accepted shifting to “conventionally raised beef or chicken due to supply shortages” in its recent risk factor filing. Avocados may be getting pricier
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An introduction of business proposal Executive Summary Gap is proposing to bring a new product of fast food into the market. Nowadays fast food has become one of the popular selections for people in their lifestyle‚ so Gap is planning to venture into the fast food industry with the new slogan; Fast Food Can Be An Icon Of Fashion. The target audiences are customers of Gap and also tourists around Malaysia of ages from 18 – 28. Objective: 1. Using posters‚ internet‚ and online advertising to
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making the cheeseburger at the grocery store. Most importantly is your choice of meat. Regular ground beef usually has a high fat content‚ about 25% to 35%‚ since it comes from the leftovers of cuts like shank and brisket. Regular ground beef is usually the cheapest‚ and while it has its upsides like flavor‚ it will shrink more than others when cooked due to the amount of fat in it. This ground beef is my choice because the flavor is simply more important‚ although I could see why people would prefer
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The Wendy’s Company Dave Thomas opened our first Wendy’s restaurant in 1969 in Columbus‚ Ohio. He opened the door to a new gold standard in quality food. When other restaurants were using frozen beef and mass-producing food‚ Dave developed an innovative method to prepare fresh‚ made-to-order hamburgers. Every day‚ we honor his legacy and continue to live through his values by using select‚ premium ingredients and serving food that’s made fresh with every order. Corporate Profile The Wendy’s
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Burger King Beefs Up Global Operation 1. By mid-2009‚ Burger King was not in any of the following five countries: France‚ India‚ Nigeria‚ Pakistan‚ and South Africa. Compare these countries as possible future locations for Burger King. To me the first preference will go to the countries that have good amount of Non-Vegetable consumption in it. As Burger King is known for its Non-Vegetable products e.g. Beef and Hamburger and other beef products. Which can be famous in all the countries whose
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the fact that these international locations were doing well and seem to be the path to increased revenue‚ Hannah decided that he would adhere to the ‘market development’ model. Hannah proceeded to look at market criterias‚ competition and the meat/beef consumption rate per region/country throughout the world in order find the best suitable locations to grow Ruth’s Chris chain of restaurants internationally. ISSUE IDENTIFICATION
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