what recognizes the potential for valuable innovations to be launched from lower organizational levels and diverse locations, including merging markets, is known as:
"Reverse Innovation."
This is because reverse innovation is a type of innovation in which the product is originally innovated for poor neighborhoods such as developing regions, then repackaged in a way that is then sold to the rich neighborhoods such as developed regions.
Reverse innovation is a term originally coined by Vijay Govindarajan and Chris Trimble.
They claimed that reverse innovation is a kind of bottom-up innovation strategy whereby the products designed for poor areas are then redefined and sold to the rich areas.
Hence, in this case, it is concluded that the correct answer is "Reverse Innovations."
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<span>sole proprietorship. With careful itemization of business expenses, they will receive a moderate tax refund. Receipt retention and careful bookkeeping is essential. An accounting software program to track expenses and income would be quite helpful. It is recommended that they hire a tax firm that specializes in small business returns to minimize tax due or recoup the full amount due to them.</span>
Yes! I am in going into 10th grade and am so excited to do vet school! I take a vet class and a marine biology class every week! I already started looking into colleges like UCDavis and the university of Colorado! I have birds fish and dogs as well!
Answer:
(B) U(c,f)=min{2c,f}
Explanation:
This is an example of Leontif utility function which states that the preferences of a consumer is to a constant ratio of quantities of two or more goods in his demand bundles and having an extra unit of a single good will not increase the utility of the consumer and will make the extra unit to waste. But having more units of all the goods in the demand bundle which maintain the constant ratio will increase the utility of the consumer.
A good example usually used in economics is that of a pair of shoe. Having one right and one left of a type of shoe gives a consumer utility at a constant ratio of 1:1, and increasing each leg by multiple of one at every point in time will increase the utility of the consumer, while increasing just only one makes the utility not to change. For instance, having only two left shoe will not give the consumer any utility and make both the left shoe useless.
In the question, the ratio of cups of corn meal, denoted by c, and cups of flour, denoted by f, is 2:1. This implies that to increase the utility of the consumer, c has to increase by a multiple of 2 at every point in time while f has to increase by one at the same point in time to maintain the constant ratio of 2:1. Increasing only c by 2 or only f by 1 will maintain the constant ratio and it will lead to a waste of the increased unit of the affected commodity.
Therefore, option (B) U(c,f)=min{2c,f} is the correct answer that gives a constant ratio of 2:1 = 2c:f.
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