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FinnZ [79.3K]
3 years ago
11

Royal Teas, a U.K.-based company employing just 30 people worldwide, generates $1.5 million in revenues of which 60 percent come

s from exports to Asian countries. In this context, Royal Teas is most likely classified as a:______.A. large domestic firm.B. mini-multinational firm.C. greenfield firm.D. foreign firm.E. multinational giant
Business
2 answers:
REY [17]3 years ago
8 0

Answer:

The correct answer is letter "B": mini-multinational firm.

Explanation:

Mini-multinational firms are those with operations in a foreign country or two. They have similar processes than multinational corporations with a reduced number of employees and small to middle influence in the commerce of the countries abroad. The countries the mini-multinationals make business with countries widely-known for being exporters such as China or Germany.

enot [183]3 years ago
7 0

Answer:

B. mini-multinational firm.

Explanation:

Based on the information provided within the question it can be said that the Royal Teas company is most likely classified as a mini-multinational firm. This term refers to a firm that has about 100 employees or less and has operations in various different foreign companies worldwide. Which seems to be the case with Royal Teas since they have only 30 employees worldwide and have operations in Asian Countries, UK and other locations.

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The cross elasticity of goods x and y is 0.6, which means that a one percent increase in price of good y will increase the demand for good x by 0.6%, this means that x and y are substitute goods, as when the price of y increases people tend to buy more of x.

When the price of good y increases by 10% it will result in the quantity demanded of x to increase by (0.6*10) =6%. The current quantity demanded of good x is 10 so a 6% increase will mean the quantity demanded of x will be (1.06*10)= 10.6

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