The US Boskin Commission Report of 1996 advocated downward adjustment of the Consumer Price Index. Explain the rationale underpinning this advocacy using examples from Australia.(the answer is expected to be around 200 words.)

Satellite night-lights data might measure economic activity better than GDP. Comment.(the answer is expected to be round 200 words)

Identify and discuss the factors determining the rate of productivity growth in Australia.

1. Calculate the minimum special price per unit that would be charged by each of the three divisions for a special order of 100 units of their products.

2. Calculate the minimum special price per unit that would be charged by each of the three divisions for a special order of 1,000 units of their products.

3. What would be the maximum price per unit that David Inc would pay to outsource (buy) 3,000 units of Division 1 products from an outside supplier? Assume fixed costs remain unchanged and that the products would be sold to its current customers.

Respond to the following in a minimum of 100 words:

Discuss the market model, oilgopoly and provide an example of a real-world market that matches the market model you chose. What does economic theory teach you about the industry you chose?

4. How did John Maynard Keynes criticize the free market economy? What does he claim is necessary to maximize the social utility of the economic system? Why does stagflation present an obstacle to his theory?

5. Assess the argument that because fat, ugly, or strange-looking people have it tougher throughout their lives than do attractive people, we should give them preferential treatment whenever we can—for example, in job situations—to make up for the disadvantages they’ve suffered and to help level the playing field.
ON and The People on it book chapter case 11.5 facial discrimination scene

Cluster analysis has a number of optional metrics. Identify the Euclidean, Manhattan, and Farthest First distances for each of the following cases to the two clusters given the following data (which has been transformed to a 0-1 scale).

Determining the payments to capital and land by using suitable example

How can warranty at the seller expense signal that a product is of high quality

Identify the differences between the Classical and Physiocratic schools of thought.

The Omega’s Positioning Strategy Priced in excess of $2,000, the luxury watch industry is dependent on promotions and product features to attract the consumer. Omega SA (Omega), the third largest luxury watch maker in the world, is the pioneer of celebrity endorsement in the luxury watch industry. The company, which introduced celebrity endorsement in 1995, has featured many charming young men and women confirming Omega as the watch of their choice. The chosen brand ambassadors have been leaders in the field of fashion, sports and the performing arts. Apart from celebrity endorsements, Omega associates itself with, and ensures its product placement with landmark events. The case also traces the evolution of Omega’s advertising strategy. With luxury watches growing in popularity as a status and lifestyle statement, Omega is looking beyond the mature markets of Europe and America, to the new developing markets in the Middle East, India and China. It has unveiled a strategy tailored to drive growth in these promising markets. Q. 5. Luxury watch brands like Rolex are already well established in the Middle Eastern, Indian and Chinese markets. What shall be the competitive strategy by Omega to make this brand a success in the new markets? Q. 6. Keeping in mind the cultural changes of Western and Eastern countries, what challenges for the Demographic, Social and Psychographic Factors Omega has to face in the target markets? Q. 7. With reference to advertising, do you suggest that Omega should continue the same advertising strategy in the new markets?

8. The effects of property rights on achieving efficiency

Consider a river found in the city of Philadelphia, and then answer the questions that follow.

The city has a resort whose visitors use the river for recreation. The city also has a tannery that dumps industrial waste into the river. This pollutes the river and makes it a less desirable vacation destination. That is, the tannery's waste decreases the resort's economic profit.

Suppose that the tannery could use a different production method that involves recycling water. This would reduce the pollution in the river to levels safe for recreation, and the resort would no longer be affected. If the tannery uses the recycling method, then the tannery's economic profit is $2,600 per week, and the resort's economic profit is $2,500 per week. If the tannery does not use the recycling method, then the tannery's economic profit is $2,900 per week, and the resort's economic profit is $1,700 per week. These figures are summarized in the following table.

Complete the following table by computing the total profit (the tannery's economic profit and the resort's economic profit combined) with and without recycling.

Total economic profit is highest when the recycling production method is   .

When the tannery uses the recycling method, the resort earns $2,500−$1,700=$800$2,500−$1,700=$800 more per week than it does with no recycling. Therefore, the resort should be willing to pay up to $800 per week for the tannery to recycle water. However, the recycling method decreases the tannery's economic profit by $2,900−$2,600=$300$2,900−$2,600=$300 per week. Therefore, the tannery should be willing to use the recycling method if it is compensated with at least $300 per week.

Suppose the resort has the property rights to the river. That is, the resort has the right to a clean (unpolluted) river. In this case, assuming the two firms can bargain at no cost, the tannery will   the recycling method and will pay the resort   per week.

Now, suppose the tannery has the property rights to the river, including the right to pollute it. In this case, assuming the two firms can bargain at no cost, the tannery will   the recycling method, and the resort will pay the tannery   per week.

The resort will make the most economic profit when   .

True or False: The tannery will use the recycling method only if the resort has the property rights.

True

False

:

: You and your family at organising Christmas lunch at your house this year. You have a large family and expect 20 people to attend. Four people who will attend have dietary requirements, of these two people are vegans, one is gluten free, and one is both gluten and dairy free. Your mum loves to cook, you love to decorate, your dad loves to clean, your brother and sister love planning the menu.

(1) Imagine that this is a project. Develop a RACI to document the key tasks that are required to be completed for the lunch, assigning roles and responsibilities. Imagine that your brother and sister argue about what should go on the menu. How could you use the RACI to resolve this conflict?

(2) Complete a stakeholder analysis. Who are stakeholders of the lunch? What is their role/interest? How will you manage stakeholder relationship to ensure that all salient stakeholders enjoy the lunch? Hint: watch the lecture for week 10 to ensure that you understand what a salient stakeholder is.

(3) Develop a communication plan for the project. Who do you need to communicate with about what? How will you do this, e.g., face to face meetings, emails, text, phone call, zoom, Facebook, etc.