Consider the following pure-exchange economy with two consumers and two goods. Consumer 1 has the utility function u1(x11, x21) = log(x11) + log(x21) and the initial endowment vector, (A, 0), where A is a positive number. Consumer 2 has the quasi-linear utility function u2(x12, x22) = x 1−α 12 1 − α + x22 and the initial endowment vector, (0, B), where B is a positive number and α is a parameter of the utility function satisfying α > 2

Standardization is associated with which of the following management orientations? a) ethnocentric orientation b) polycentric orientation c) regiocentric orientation d) geocentric orientation

Suppose that a firm is considering moving from a batch process to an assembly-line process to better meet evolving market needs. what concerns might the following functions have about this proposed process change: marketing, finance, human resources, accounting, and information systems?

Four key marketing decision variables are price (p), advertising (a), transportation (t), and product quality (q). consumer demand (d) is influenced by these variables. the simplest model for describing demand in terms of these variables is: d = k – pp + aa + tt + qq where k, p, a, t, and q are constants. discuss the assumptions of this model. specifically, how does each variable affect demand? how do the variables influence each other? what limitations might this model have? how can it be improved?