Detroit are the three possible choices for the two new manufacturing plants. These locations vary in distance from the existing outlets in Chicago‚ Milwaukee‚ Minneapolis and Detroit which is why there are differences in transportation costs. Constraints like minimizing transportation costs and meeting the demands of all the outlets are to be considered so that Ricky can make the best decision for the company. Availability of the materials needed‚ specifically fiberglass should be accessible to all manufacturing
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customers. Answer. . Q2. It involves individuals who buys products or services for personal use and not for manufacture or resale. Answer. . Q3. It is groups of people who interact formally or informally influencing each other’s attitudes & behavior. Answer. . Q4. The concept of product that passes through various changes in total life is known as: Answer. . Q5. It refers to unique set of brand associations that brand strategists aspires to create or maintain: Answer. . Q6.
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MBA MANAGERIAL ECONOMICS Arcadia IMBA Module 2 University Wide Individual Assignment (UWIA) 12th July 2013 PROBLEM SET #1 1. Complete the following table and answer the accompanying questions. a. At what level of the control variable are net benefits maximized? Net Benefit is also profit. The formula for this is MB = MC. As seen in the table completed above‚ after applying the formula then net benefit is maximized where Q = 106. b
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Psychology Is Psychology a Science? In order to determine if psychology is a science or not it is important to understand what being a science means. The word comes from the Latin ‘scientia’ and refers to a system of acquiring knowledge. This is done by formulating theories through observation and experimentation of phenomena in the natural world. In the natural sciences all theories are be objective meaning free from researcher bias and contain variables which can be clearly stated. In psychology
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SOCIOLOGY AND OTHER SCIENCES Sociology deals with society [people];how people interact‚ their culture‚ norms‚ values just like other social sciences like psychology‚ economics‚ psychology which also deal with people and how they behave‚ their mental processes. There is also a relationship between sociology and economics which is another social science. economics deals with the production of goods and services and how they are distributed to people just like sociology which also consider how the
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Chapter 5 DEMAND ANALYSIS QUESTIONS & ANSWERS Q5.1 Q5.1 Is the economic demand for a product determined solely by its usefulness? ANSWER No‚ two basic conditions must be met before economic demand is created. First‚ there must be value associated with acquiring and using the good or service. For individuals‚ this value is in terms of utility‚ well being‚ or satisfaction through consumption. For firms‚ this value is measured in terms of the profit created through resource employment. Second‚ there
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price ceiling of $3 will result in a A. B. C. D. shortage of 30 units. shortage of 15 units. surplus of 30 units. surplus of 12 units. 2. In a competitive market‚ the market demand is Qd = 60 - 6P and the market supply is Qs = 4P. The full economic price under a price ceiling of $3 is A. B. C. D. 6. 7. 8. 9. 3. The buyer side of the market is known as the: A. B. C. D. income side. demand side. supply side. seller side. 4. The law of demand states that‚ holding all else constant:
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Psychology is the study of the human behavior especially how the mind of the human beings works. For many years‚ the behavior of human beings has been studied by very many scholars and they have come up with very many reasons as to why people behave in such a manner. However‚ as a student my main ambition is to become a drug and alcohol counselor. Therefore‚ this class of general psychology has helped me in building my career very much due to the course content value. Variation is one of the most
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Health economics - The Primer This series of articles will introduce readers to the emerging field of health economics. We will review how health economics influence decision making process in health care and the basic tools used in health economics. * 1. The Role of Health Economics * 2. Cost of Health Care * 3. Should Oncologists Care About Cost-Effectiveness Analyses? * 4. Classification of Health Economic Analyses * 5. Health Economics Research: Cost Utility Analysis
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“Is Psychology A Science?” PSY 101 There seem to be two ways to look at psychology. Some experts and scholars claim that psychology is without question a science. There are also those that argue it is not an exact science‚ but rather concepts of common sense in a well arranged package. In this essay‚ I will attempt to argue both sides of the debate and conclude with my own stance on this hotly contested issue. Psychology can be defined as the scientific study of the human mind and it’s functions
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