Demand for Corn If the demand for corn increases due to its use as an alternative energy source‚ the supply of corn substitute like soybean would decrease. This would happen because as the demand of corn rises‚ the price of corn would rise. Therefore the producers of a substitute like soybean would start producing corn instead of the soybean considering that they both have the same farmland. The producers of soybean will expect to make more profit by selling corn at a higher price assuming the cost
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Mercedes-Benz is a German manufacturer of automobiles‚ buses‚ coaches‚ and trucks.The first Mercedes-Benz brand name vehicles were produced in 1926‚ following the merger of Karl Benz’s and Gottlieb Daimler’s companies into the Daimler-Benz company. Mercedes-Benz has introduced many technological and safety innovations that have become common in other vehicles several years later.Mercedes-Benz is one of the most well-known and established automotive brands in the world‚ and is also the world’s oldest
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Running head: The Elasticity of Business Ethics The Elasticity of Business Ethics Abstract Given the competitiveness in the world market‚ many are tempted to go outside of the rules and regulations of society in order to get ahead. Although many would like to think that qualities such as honesty and credibility are first and foremost in the minds of people‚ temptations have lured some to act irresponsibly to get more of the almighty dollar. Recent scandals have proven that good ethical
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Economics April 16‚ 2012 n Price Controls: How efficient are price ceilings and price floors? If you think one is better than the other‚ make sure to bring up examples from our economy to validate your stand. Price ceilings and price floors are essential aspects of our economy. Price ceilings are government enacted laws preventing suppliers from establishing prices of key resources higher than a certain price‚ which is set by the government. Price floors are price minimums that can be charged
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1. What is the strategic significance of the BMW Z3 launch? Firstly‚ the launch of the BMW Z3 is significant for the company as it helped the company inch closer towards their long term goal in becoming a global brand. Prior to the introduction of BMW Z3‚ the most common mindset of the general public about BMW is that the superior quality of their products are due to the fact that it was made in Germany. With the Z3 manufactured in Spartanburg USA‚ BMW can show that they can be a successful global
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3 price discrimination With the rapid development of economy and market‚ the price discrimination phenomenon is more and more universal and the form is more and more multiple. Price discrimination refers to companies selling exactly the same or similar production to different customers at different prices. 1In November 2006‚ the major IT Web site noted‚ Lenovo in the United States launched a holiday promotion‚ and four models of ThinkPad were under undercut. TP R60 price was down from $
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Price discrimination Price discrimination is the practice of charging a different price for the same good or service. There are three of types of price discrimination – first-degree‚ second-degree‚ and third-degree price discrimination. First degree First-degree discrimination‚ alternatively known as perfect price discrimination‚ occurs when a firm charges a different price for every unit consumed. The firm is able to charge the maximum possible price for each unit which enables the firm to
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TUTORIAL 1: DEMAND THEORY 1a) The demand curve for haircuts at Terry Bernard’s Hair Design is P = 15 – 0.15Q where Q is the number of cuts per week and P is the price of a haircut. Terry is considering raising her price above the current price of RM9. Terry is unwilling to raise price of the price hike will cause revenue to fall. Should Terry raise the price of haircuts above RM9? Why or why not? b) Terry is trying to decide on the number of people to employ based on the following
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challenges BMW must create strategic and operational plans to increase sales‚ develop new and profitable areas of activity and sustainability along the entire value chain and in all basic processes‚ which will create value to the company‚ the environment and society. Based on the SWOT analysis BMW’s strengths are as follows: a very reputable brand who manufactures vehicles that are environmentally friendly using quality materials thus they have less recalls than the competition. BMW is committed
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There are many different things that contribute to the elasticity of muscles‚ but the focus of Aboodarda and colleagues is specifically on myofascia‚ the irregular dense connective tissue that connects and encompasses every muscle and organ in the body‚ as it is the component that is thought to have responsibility for the elasticity of muscle tissues. As a response to injury‚ among other factors‚ myofascia may bond to abutting structures and contract‚ which may cause adhesions. These adhesions may
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