Recent orders

Suppose That Purely Competitive Firms Producing Cashews Discover That P Exceeds MC.

Suppose that purely competitive firms producing cashews discover that P exceeds MC.

a. Is their combined output of cashews too little, too much, or just right to achieve allocative efficiency?

(a)too little

(b)too much

(c)just right

b. In the long run, what will happen to the supply of cashews and the price of cashews?

(a)Supply will increase and the price of cashews will increase.

(b)Supply will increase and the price of cashews will decrease.

(c)Supply will decrease and the price of cashews will decrease

(d)Supply will decrease and the price of cashews will increase.

Simulation Paper

What lessons have been learned from the simulation conducted this week?  How did bias play a role in the decision-making regarding how to resolve the main problem in the case?

Write up your response in no more than three double-spaced pages.

This is a simulation activity. Here are some more details about it:

Decision-making Under Uncertainty

Simulation Purpose

The purpose of this simulation is to explore issues related to human judgment and decision making during a crisis.

Simulation Background Information

In this simulation, you will play the role of a product manager at Matterhorn Health, a medical device manufacturer. Matterhorn Health recently went to market with the GlucoGauge blood glucose monitor. Since the product’s launch, there have been troublesome reports of customers experiencing inaccurate readings, in spite of extensive pre-release testing. Throughout the simulation, you will use a series of provided desktop applications to receive communications from your colleagues about the problem at hand. Information will be received through various simulated channels – email, video messages, voicemail messages, and instant message chats. You need to get to the root of the issue and make recommendations on how Matterhorn can solve this problem.

Note that product quality crises are not always resolved immediately. Issues and problems arise over time, and causes of poor product performance do not always become apparent quickly. During this simulation, you will encounter some important decisions and try to determine the cause(s) of the problems. You may not reach full resolution by the time the simulation ends. Do your best to manage this fluid situation.

Simulation Preparation

· Download the complete “ How to Play ” instructions.

· Video and audio are used throughout the simulation. Be sure to have either speakers or headphones available (headphones are preferred). 

· Have a notepad and writing tool available. You’ll be making several important decisions throughout the simulation and will want to document them for later recall. 

· Before starting the simulation, on the HBS simulation site link:

· Watch the video about the development of the GlucoGauge, introduction to blood glucose monitoring, and Matterhorn Health.

· View the Matterhorn Health Organizational Chart

Play the Simulation

· Complete the simulation before the Week 11 Live Session. Be prepared to discuss your simulation experience in the Week 11 Live Session.

· Access the HBS Simulation link

· Review the “About” page, “How to Play” page, and Organizational Chart. 

· Click “Start Simulation” to begin.

Global Managerial Economics IP1

Suppose that there are two products: clothing and soda. Both Brazil and the United States produce each product. Brazil can produce 100,000 units of clothing per year and 50,000 cans of soda. The United States can produce 65,000 units of clothing per year and 250,000 cans of soda. Assume that costs remain constant. For this example, assume that the production possibility frontier (PPF) is a straight line for each country because no other data points are available or provided. Include a PPF graph for each country in your paper. Chapter 5 of the Suranovic text is a good reference for this task.

Complete the following:

  • What would be the production possibility frontiers for Brazil and the United States? 
  • Without trade, the United States produces AND CONSUMES 32,500 units of clothing and 125,000 cans of soda. 
  • Without trade, Brazil produces AND CONSUMES 50,000 units of clothing and 25,000 cans of soda. 
  • Denote these points on each COUNTRY’s production possibility frontier.  
  • Using what you have learned and any independent research you may conduct, which product should each country specialize in, and why? 

To assist in your thinking and discussion, additional questions to consider include:

  • What is the labor-intensive good? 
  • What is the Marginal Rate of Transformation impact? 
  • What is the labor-abundant country? 
  • What is the capital-abundant country? 
  • Could trade help reduce poverty in Brazil and other developing countries? 

800-1000 words