MIT School of Business (MITSOB) Post Graduate Diploma in Management (PGDM) Backlog (April 2014) Semester II Term End Examination Subject: Operations Research (203) Total Marks: 50 Duration: 2½ Hrs. Instructions: 1) Formulate the problems in the answer sheet. 2) Students should write the steps and formulae used in the cells along with the final answer, in the answer sheet so that examiner will be able to evaluate the answers. 3) No marks will
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grow rice, but can produce wine, they can trade for rice from another country, like India. France has a comparative advantage in producing wine and India has a comparative advantage in producing rice. Comparative advantage is when a country has the ability to produce a good or service cheaper or faster than someone else. By each one of these countries having comparative advantage, it can lead to more gains from trade. France may be able to produce rice but because of the bad soil, they might not
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LUCIA TAJOLI CURRICULUM VITAE (MAY 2009) Personal information: Born in Padova (Italy) on 1st July 1964 Italian citizen Addresses: Home: Via Trieste 22, 24045 Fara Gera d’Adda (BG) Italy. Ph. +39 0363 399221 Work: Dipartimento di Ingegneria Gestionale - Politecnico di Milano Piazza Leonardo da Vinci 32, 20133 Milano, Italy Ph. + 39 02 2399 2752, Fax +39 02 2399 2710, e-mail: lucia.tajoli@polimi.it Academic positions: • Associate Professor of Economics at Politecnico di Milano (Italy) since November
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specialization and trade are rice and tea. Initially no trade occurs. Both countries are facing trade-offs between producing tea and rice, where trade-off is an exchange of one thing in return for another, especially relinquishment of one benefit or advantage for another regarded as more desirable. Sri Lanka is able to produce either 1,000 bags of rice or 3,000 bags of tea. Kenya is able to produce either 1,000 bags of rice or 1,000 bags of tea. Also given the condition the two countries have similar
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between members states of economic unions that it is meant to lead to higher productivity. · It gives comparative advantage to countries. Comparative advantage refers to the ability of a person or a country to produce a particular good or service at a lower marginal and opportunity cost over another. · To achieve economies of scale. Economies of scale refer to the cost advantages that an enterprise obtains due to expansion. · Political reasons · increased efficiency and effectiveness in production
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Sickle Cell Disease Charlie Wilson HHC/220 March 13, 2014 Mark Perry Sickle Cell Disease Sickle cell anemia or SCD is a condition that is inherited genetically by abnormal, red blood cells (erythrocytes) that has a form of sickle-shape. According to the Sickle Cell Society (2005), the beginning stage of this disease can begin as early as four months of age but are more common between one and two years of age. Symptoms while in childhood stage to adulthood consist of the following:
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I would divide the elements in the policies of India that were there against Comparative advantage and international trade into three major groups: extensive bureaucratic controls over production, investment and trade; inward-looking trade and restricted foreign investment policies; and conventional confines of public utilities and infrastructure. The former two adversely affected the private sector’s efficiency. The last, with the inefficient functioning of public sector enterprises, impaired additionally
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1. Some of the advantages Blades could gain from importing from and/ or exporting to a foreign country such as Thailand are comparative advantage theory and the imperfect markets theory. Since business is dwindling down in the United States for Blades, Blades does not have comparative advantage in the United States anymore. If Blades were to export Blades to Thailand it would gain a comparative advantage because roller blades are not as penetrated in Thailand as they have in the Unites States. Blades
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the markets are now being rewarded by concentrating their resources particularly on what they best produce, giving them a comparative advantage in the global economy. This is one of the benefits found in this new structure of the world economy. Even though some countries are worse off and affected by this type of trade, nearly all countries have a comparative advantage in producing goods that can be exploited for a greater benefit. And by applying this regulation, countries can maximize their gains
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beliefs that employees should come first in decision making prior to shareholders. 2. a. Explain how the theory of comparative advantage relates to the need for international business. The theory of comparative advantage relates to the need for international business because it suggests that each country should use its comparative advantage to specialize in its production and rely on other countries to meet other needs. Therefore all countries would need to trade with each other competitively
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