Commercializing the Kunst 1600 Dry Piston Vacuum Pump Q1. List the major quantifiable value and price elements associated with the Kunst 1600. Answer: With its enhanced features‚ the Kunst 1600 is able to pump just as efficiently as a traditional 6 CFM pump in the same amount of time‚ but because it is a compressor‚ it can run longer and cooler than any conventional pump and requires no oil changes! Savings on oil changes‚ cleanup costs‚ and disposal fees alone can equal almost $1‚300* per
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The Hospitality Management The hospitality industry supported 7.5 million USA jobs in 2011(“selectusa.commerce.gov”). It includes a broad variety of service industries that incorporate food service‚ tourism‚ and hotels (“economywatch.com”). The business depends in large part on the number of people traveling for business or pleasure. Economy has a big impact on travelers’ decisions. When individuals and corporations are doing well financially‚ they are more likely to take vacations and spend
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1. Explain Porter’s Diamond Porter introduced group of interconnected firms‚ suppliers‚ related industries‚ institutions. Competitive advantage of nations have been the outcome of four interlinked advanced factors and activities: these interrelated links Factors for Competitive Advantage for the countries or regions in Porter’s Diamond are as follows: 1 Factor conditions - such as skilled labor‚ land‚ natural resources‚ capital and infrastructure. Porter argues that the "key" factors
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6.1a) A monopoly is facing the demand and marginal cost curves which is P = 12 - 0.002Q and MC = 3 + 0.001Q. When the demand curve is P = a- bQ‚ the marginal revenue curve will be MR = a- 2bQ ‚ therefore‚ MR = 12 - 0.004Q.(Refer to figure1) Figure 1 To maximize the profits‚ the company should produce at the output level where marginal revenue is equal to marginal cost. If the marginal revenue is higher than marginal cost‚ the firm can increase profit by producing more. If
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Ateneo de Manila University 2nd Semester 2013-2014‚ EC 102 I and C Reviewer for the 2nd Long Exam I. 1. 2. 3. 4. 5. 6. 7. II. TRUE OR FALSE In the short-run‚ the average fixed cost (AFC) curve will be asymptotic to the origin. This simply means that the average fixed cost curve will come closer and closer to zero‚ but will never be zero. TRUE Variable costs usually change as the firm alters the quantity of output produced. TRUE In a perfectly competitive market‚ firms are unable
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2) Explain why a profit maximizing firm produces the output that equates marginal revenues to marginal costs (MR=MC). In a perfectly competitive market‚ producers are price-takers and consumers are price-takers. There are many producers‚ none having a large market share and the industry produces a standardized product‚ also free entry and exit of the industry. They produce using the optimal output rule: produce where marginal revenue equals marginal cost as Smith (1904) demonstrated. Figure
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CLICK TO DOWNLOAD ECO 550 FINAL Exam 1). Evidence from empirical studies of short-run cost-output relationships lends support to the: 2). Break-even analysis usually assumes all of the following except: 3). In determining the shape of the cost-output relationship only ____ depreciation is relevant. Answer 4). In the linear breakeven model‚ the breakeven sales volume (in dollars) can be found by multiplying the breakeven sales volume (in units) by: 5). A firm in pure competition would shut
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definition of internal and external stakeholders This website shows the differnent stakeholders and how they influnece businesses. the main two businesses i am going to be investigating are McDonalds and cadbury. what are stakeholders? Stakeholders are people who own a share in the business‚ they have to buy the shares from the stock exchange or they have an influence or interest in the business. an example of a stakeholder of a school would be a govnor. they dont own a share but they influence
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Case Study Report McDonald ’s BACKGROUND: Brothers Richard and Maurice McDonald founders of McDonald ’s Corporation grew from a single drive-in restaurant in San Bernardino‚ California in 1948 to the largest food service organization in the world. In 1955 Ray Kroc opened firs McDonald ’s in Des Plaines‚ Illinois and became exclusive franchising agent for the company. By 1991 McDonald ’s owned $13 billion of fast-food industry‚ operating 12‚400 restaurants in 59 countries (Ezine). The company
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TI 2007-091/3 Tinbergen Institute Discussion Paper Procurement Frank A.G. den Butter VU University Amsterdam‚ and Tinbergen Institute. Tinbergen Institute The Tinbergen Institute is the institute for economic research of the Erasmus Universiteit Universiteit Amsterdam. Tinbergen Institute Amsterdam Roetersstraat 31 The Netherlands Tel.: Fax: 1018 WB Amsterdam +31(0)20 551 3500 +31(0)20 551 3555 Rotterdam‚ Universiteit van Amsterdam‚ and Vrije Tinbergen Institute Rotterdam
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