In such a case, the first step for Junior to conduct effective distributive negotiation would be to adequately prepare for it. As he was assigned to promote a bill to allow casino gambling in the state, he should know thoroughly about the pros and cons that involve this activity and also seek to understand the arguments of who is against the bill's approval. Knowing your negotiating adversary will make it much easier to find your flaws and weaknesses so that you can bargain effectively. Junior could at first set up an assembly and then consistently present the positive points, presenting solutions to the opposition's problems and showing relevant points that the opposition did not expect. Some bargains could be the focus on security that these establishments would have, surveillance, the creation of new jobs, the stipulation of the opening hours of the Casino, among others.
Goods that are normally consumed together are known as 'Complimentary Goods' i.e. they compliment one another.
Other examples include toothbrush and toothpaste or Car and Gasoline.
Car and Gasoline is a classic example of complementary goods since the increase or decrease in the demand for one product has a direct impact on the other.
For example, when Gasoline prices start to decline, there is generally an upward trend in the purchase of new cars and vice versa.
Answer:
I'maGoldMiner has benefited from a record rise in gold prices in the global commodities market. While the price of its output is highly influenced by market speculation, if it wants to increase production to take advantage of the current profit-maximizing opportunity, the company must accept market price for its physical capital input.
Explanation:
Actually, the market of gold is very speculative and in general a "gold mines" has to accept market prices because they can't influence in them as in the case of I'maGoldMiner because it represents a small part of the market.
Answer:
it will take 16.89 years for the account to increase to $2 million.
Explanation:
PV = $400,000
FV = $2,000,000
I/Y = 10%
Solving for N in:
FV = PV * (1 + I/Y)N
$2,000,000 = $400,000 * (1.10)N
5 = (1.10)N
N = 16.89 years
Therefore, it will take 16.89 years for the account to increase to $2 million.
