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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1Would you say that Google and Yahoo are direct or indirect competitors? What about McDonalds and Macaroni Grill? Explain why? Indeed Google and yahoo are both direct competitors because the both provide the same services such as : email ‚ search ‚chatting groups ‚ blogs ‚for McDonalds and Macaroni they are indirect since both provide food but of different types which make them compete for different products . - 2 . Given the example of Atari and Nintendo games‚ which one was the first
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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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Version 18 October 2007 Managerial Economics – Concerned with the application of economic principles and methods to the decision making process under conditions of uncertainty. Theory Tools: Micro Economics‚ Statistics‚ Econometrics (OLS) Software and Decision Support Tools: Excel‚ Matlab‚ B34S Goal: Develop a systematic and reproducible decision making strategy. Common Tasks facing a Modern Manager: Whether to lease or buy equipment? How to determine the shape of the cost curve
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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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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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