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Identify an unconsummated wealth-creating transaction (or a wealth-destroying one) created by some tax, subsidy, price control, or other government policy, and then figure out how to profitably consummate it (or deter it). Estimate how much profit you would earn by consummating (or deterring) it.
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- The owner of an independent full-service lodging property has reviewed your proposal for the installation of a property management system. The proposal is thorough; it includes all the necessary steps outlined in this chapter. However, the owner says that due to economic conditions at this time, we have to cut back and purchase only five of the eleven modules in the proposal. Which of the five modules would you maintain? Justify your decision. a. Reservations b. Revenue Management c. Registration d. Room Status e. Posting f. Call Accounting g. Back Office h. Housekeeping i. Food and Beverage j. Marketing and Sales k. Night Audit *Write in at least 1000 count of words.*Process mapping is a tool that reduces processes to their component parts or activities and helps identify and then eliminate non-value-added activities, (waste) or delays within a process. Process mapping is valuable in purchasing, especially when attempting to streamline the flow of material or information between suppliers and a purchaser.Casinos in the US wanted to purchase decks of cards made in Mexico. It costs less than half the price paid to US suppliers. However, the price is based on the product outside the Mexican manufacturing doors. The US firm must find a way to transport the cards to the US. This is a problem given the current US regulations on transportation between Mexico and the US and the strong truck drivers union. In this case, casinos are experiencing: Underinvestment in Mexico. Language and cultural barriers in management. Limited SI in Mexico. High transaction costs and possible hold up problems.
- Recall a sharecropping agreement is where a farmer provides a percentage of their yield to a landowner in exchange for renting the land. Consider the graph below and answer the following questions (include calculations in work): 11 VMPL 10 8 a*VMPL 5 4 3 2 1 10 15 20 25 30 35 40 45 50 55 Labor (Hour) "andınoIn which of the following situations would the supplier have the greatest power to hurt a business that is its customer? The supplier is one of 100 companies selling the input needed by the business. The business could use an alternative input mix that uses significantly less of the supplier's product. The supplier rents building space to a bakery in a real estate market with a vacancy rate of less than .5%. The cost for the business to switch to a different supplier is low. 1.In which of the following situations would the supplier have the greatest power to hurt a business that is its customer? a: The business could use an alternative input mix that uses significantly less of the supplier's product. b: The supplier rents building space to a bakery in a real estate market with a vacancy rate of less than .5%. c: The cost for the business to switch to a different supplier is low. d: The supplier is one of 100 companies selling the input needed by the business
- You own a toy store located in large suburban mall. Your landlord has raised your rent by 10%. In response, you decide to raise your prices on all of your toys in order to offset the increased cost of rent and maintain your profitability. Under what circumstances would this be a good idea? Explain.Which of the following is true concerning the PLSAs? a) They help people spend more money b) They are far worse than regular savings accounts in every possible way which explains why no one uses PLSAs c)They tended to be opposed by state governments which had a monopoly on lotteries d) They are legal in only one state in the US because of how damaging they are to a state’s poorer population e) We did not discuss PLSAs in this classTo properly decide the most appropriate path the firm should take to enter a foreign market we need to, first, look at the advantages and disadvantages of its options. There are many options from exporting to Licensing. However, the firm has settled on three different options: 1.) Exporting; Advantages – This choice allows the firm to avoid the large costs of setting up operations overseas. Exporting can lead to a successful experience curve as well as location economies. Disadvantages – Possible high costs of exporting that may prove to be unprofitable and uneconomical. The firm must trust a third party to hold its product and market it in such a way that it sells well. The firm could dislike the way that the third party is doing this. 2.) Setting up a Wholly Owned Subsidiary: Advantages – Reduces risk of losing control of technological competence. Gives the firm tight control of its operations overseas. This could also lead to a successful experience curve and/or…
- Amazon initially selected two locations for US headquarters-NYC and Northern Virginia. It recently withdrew from NYC due to opposition regarding the incentive costs and impact on the environment. New Jersey is also re-evaluating its incentive grant program.In general, do you believe that state and local incentive programs are effective in maintaining or attracting corporate business?The solar roof panel industry has really taken off in recent years. Homeowners typically will make the decision whether to purchase solar panels for their roofs based on the price of the solar panel and the perceived private benefit, which includes lower energy costs of powering their homes. In addition to the private benefits of solar roof panels, there are also large societal benefits in the form of reduced dependence on fossil fuels (coal, oil, etc.), which create more pollution than solar energy sources. Unfortunately, homeowners don't consider these societal benefits when deciding whether or not to purchase solar roof panels. 1. Assuming perfect competition, use the space below to graph the market for solar roof panels. The graph does not need to include specific numbers or values but should include: a) Clearly-labeled x- and y-axis b) A clearly-labeled supply curve c) A clearly-labeled private marginal benefit (or demand) curve d) A clearly-labeled social marginal benefit curve…explain whether or not you feel Ford did anything morally wrong in weighing the economics of the Pinto manufacturing versus consumer deaths. Also, do you think it was a legitimate defense for Ford to state that their cars met or exceeded the safety standards set by the US government?
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