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Define economies of scale and economies of learning, and provide an example of each. Why are they are important for strategy?
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- What is cost leadership strategy? Critics say that it is nothing strategy. Do you agree? Give your arguments.Mercedes Benz seem to win every time with their social media campaigns. The one that stands out to me was back in 2013 when they created what I still believe to be one of the best Instagram marketing campaigns to date. Mercedes wanted to reach out to the younger audience so they hired five top Instagram photographers to each take the wheel of a new Mercedes CLA. Whoever got the most likes got to keep the car – so they all really worked at it! By the end of the campaign, Mercedes has received: 87,000,000 organic Instagram impressions 2,000,000 Instagram likes 150 new marketing assets (stunning photos) Q1. What lessons can you learn from this? Could you put your followers up for a challenge and make it into a competition or campaign? Q2. Can you do a competition that gets people trying out your product first? Q3. Think about your target audience. What is a prize they would value? Q4. Like Mercedes you could recruit bloggers/influencers via social media and get them blogging about your…specialize in producing radios? Compasses? Problem 2 Gary and Diane must prepare a presentation for their economics class. As part of their presentation, they must do a series of calculations and prepare 50 PowerPoint slides. It would take Gary 10 hours to do the required calculation and 10 hours to prepare the slides. It would take Diane 12 hours to do the calculations and 20 hours to prepare the slides. How much time would it take the two to complete the project if they divide the calculations equally and the slides equally? a. How much time would it take the two to complete the project if they use comparative advantage and specialize in calculating or preparing slides? b. If Diane and Gary have the same opportunity cost of $5 per hour, is there a better solution than for each to specialize in calculating or preparing slides? Briefly discuss. C. 1
- What is the difference between consummatorymotives and instrumental motives?In Game Theory, there is an incentive to cheat. Please explain both the prisoner’s dilemma and the payoff matrix related to this incentive to cheat. Why can Game Theory be an effective way to conduct business strategy? Why is it important to understand what industry you are in before you can develop a strategy in Game Theory?Please answer this question. Complete answer please and please show me the step by step solution thank you
- Three managers of the Magic Potion Company are discussing a possible increase in production. Each suggests a way to make this decision. HARRY: We should examine whether our company’s productivity—gallons of potion per worker—would rise or fall. RON: We should examine whether our average cost—cost per worker—would rise or fall. HERMIONE: We should examine whether the extra revenue from selling the additional potion would be greater or smaller than the extra costs. Who do you think is right? Why?Part 1 : There are six openings left in the always popular Intermediate Microeconomic Theory course being offered at Adam Smith College, and there are 10 students looking to add the course. The professor has decided to give the six spaces to the students who value the class most highly. He has asked students to submit bids showing the highest price they are willing to pay to be admitted to the course. Below, sort the students into the appropriate categories based on their bids. Remember, only six students can be accepted into the class. Items (10 items) (Drag and drop into the appropriate area below) Part 2 : If the professor acts as an ordinary monopolist and there are no costs incurred by adding students, what price would he set? $ ________I need a good explanation on this question please. Is there really a strategy here? I'm confused since mixed strategies are not allowed.