International Economic Exam Paper

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MN5118 / MN5118R UNIVERSITY OF LONDON MSc EXAMINATION 2011 For Internal Students of Royal Holloway DO NOT TURN OVER UNTIL TOLD TO BEGIN MN5118 : INTERNATIONAL BUSINESS ECONOMICS MN5118R : INTERNATIONAL BUSINESS ECONOMICS - PAPER FOR RESIT CANDIDATES PAPER A Time Allowed: THREE hours Answer THREE questions No credit will be given for attempting any further questions. This exam paper has been made available in electronic form strictly for the educational benefit of current Royal Holloway students on the course of study in question. No further copying, distribution or publication of this exam paper is permitted. By printing or downloading this exam paper, you are consenting to these restrictions. © Royal Holloway…show more content…
(5 marks) b) If you were the Braniff Airways CEO, would you have gone along? Why or why not? (5 marks) c) If a patent is a monopoly, why does the government give out patents? (4 marks) d) You are in the business of selling up-market anti-wrinkle creams. There is a recession on so you ask two competitive consultants what you should do to keep your firm profitable. One suggests cutting costs by reducing your marketing expenses while the other argues that on the contrary you need to beef up your marketing expenses. Use indifference curves to discuss the relative merits of the consultants’ recommendations. (6 marks) e) Explain how a firm who successfully developed a benefit advantage might subsequently develop a cost advantage. (5 marks) TOTAL: 25 MARKS END Page 5 of

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