Suppose that you are trying to choose which of two IT projects to accept. Your company employs three primary selection criteria
for evaluating all IT projects: (1) proven technology, (2) ease of transition, and (3) projected cost savings.One option, Project Demeter, is evaluated as:Technology highEase of transition lowProjected cost savings highThe second option, Project Cairo, is evaluated as:Technology mediumEase of transition highProjected cost savings highConstruct a table identifying the projects, their evaluative criteria, and ratings. Based on your analysis, which project would you argue in favor of adopting? Why?
1 answer:
Answer:
The explanation of this question is given below in the explanation section.
Explanation:
In this question, it is asked about to select one project among two given project based on the evaluation criteria. These evaluation criteria include:
- Proven technology
- Ease of transition
- Projected cost saving
Based on my analysis, I will select the project cairso because It has high transition and high projected cost saving.
The analysis of these project is shown in attached picture with this solution.
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Answer: Correct. When there is an increase in supply and an increase in demand, the new equilibrium quantity increases but whether the equilibrium price increases or decreases is unknown.
Explanation:
When the demand for the shoes increased, it had the effect of shifting the demand curve to the right. At the same time, with six more firms coming into the market, the supply increased as well which had the effect of shifting the supply curve right as well.
The new equilibrium as a result of these movements will see the quantity increase. However, due to the shift of both the supply and the demand curve in the same direction, it is uncertain if the price will change or not.
The general rule is that if the rise in supply is more than rise in demand then the price will decrease. If they rise by the same amount then price will remain the same. It shows therefore that if both supply and demand rise at the same time, the effect on equilibrium price is unknown.
