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- 1. What are the difficulties that a business may face when there is not businesa plan?4. Farmer Jones and Farmer MacDonald graze their cattle on the same field. If there are 20 cows grazing in the field, each cow produces $4 000 of milk over its lifetime. If there are more cows in the field, then each cow can eat less grass, and its milk production falls. With 30 cows on the field, each produces $3 000 of milk; with 40 cows, each produces $2 000 of milk. Cows cost $1 000 apiece.(a) Assume that Farmer Jones and Farmer McDonald can each purchase either 10 or 20 cows, but that neither knows how many the other is buying when she makes her purchase. Calculate the pay-offs of each outcome.(b) What is the likely outcome of this game? What would be the best outcome? Explain.(c) There used to be more common fields than there are today. Why?2.what is one of the core propostions underpinning an istitution-base viewbof global business
- 5. Gina and Bob are co-owners of a surf shop. Both Gina and Bob prefer to skip work and go surfing, but if they both surf, the shop is closed. Each co-owner must choose between working and surfing. If they both work, they earn $600 each. If both surf, they earn $200 each (the value they place on surfing). If only one of the co-owners surfs while the other works, the worker gets $800 and the surfer gets $1000. a. Suppose that Gina and Bob make their decision simultaneously. Depict their interaction on a payoff table showing all outcomes (payouts) payouts. Identify the equilibrium outcome(s). b. Now suppose that Gina is an early riser, whereas Bob sleeps in. Therefore, Gina decides first whether to work or surf. By the time Bob makes his decision, Gina has already committed to one of the two options. Depict this interaction in a sequential game tree. Show all the payouts and identify the equilibrium outcome(s). c. Would it be in Bob’s best interest to get up sooner, so that he can…a) Geppetto and Lewis agree to trade at a rate of 3 puzzles for each puppet. With those terms of trade, who is most likely to be the supplier of puzzles? Who is most likely to be the supplier of puppets? b) The two toy store owners agree to specialize and to trade 30 puzzles for 10 puppets. The terms of trade are still 3 puzzles for each puppet. How many puzzles and puppets will each one have after they complete their trade? Geppetto ? puzzles and ? puppets Lewis ? puzzles and ? puppets Please explain to me how to solve these questions. Don't just give me the answers. Thank you!Illustrate THREE (3) reasons why not all commodities are suitable to representmoney. Please give explanation in details with examples.
- C. DISTINGUISH BETWEEN THE NEO-CLASSICAL, FREE-MARKET THEORY WITHDEPENDENCY THEORY?3. Recycling CanFor the past 10 years, five Colorado cities have held a recycling contest to see which citydoes the best job of recycling plastic, glass, and aluminum. Those participating in thisyear’s contest are Arvada, Centennial, Lakewood, Highlands Ranch, and Parker.To make the contest fair for both large and small cities, the winning city will be the one that recycles the largest number of cans per capita—the number of cans recycled dividedby the number of city residents. 0.02 per can Recycling Can Contest City Population Jan Feb Mar Total Per Capita Arvada 15,855 10,505 24,556 12,567 Centenntial 28,951 24,567 21,777 26,719 Lakewood 142,547 102,376 105,876 121,987 Highlands Ranch 2,801,561 2,714,664 2,503,344 1,999,877 Parker 1,689,908 1,523,665 1,487,660 1,002,545 Total -…Please help ASAP correct explain a b c Don't answer by pen pepar
- Explain at least three (3) modes that firms use to enter foreign markets. Please provide examples.1) John is operating an internation business in the United Stateds of American and is focused on the limitation or short-term impact of an issue. It can be said that John has a ............. 2) The grestest good for the greatest number of persons is known as the ............... approach. 3) this theorgy states that a country's wealth was deternmined by the amount of its gold and silver holding. It is ...........?/16 I tried this but failed can smoneone explain to me
