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The next three questions relate to the following scenario: Erica is planning a large surprise party for her best friend. She has developed the plan below which includes estimates of the time in hours) and cost necessary to perform each of the activities required.
-To reduce the time for Activity F, Prepare Food, Erica can purchase some of the food from a caterer rather than cook it herself. As shown in the table above, this can reduce the time for Activity F by one or two hours, depending on how much catered food she purchases. What is the crash cost per hour for this activity?
Joint Ventures
Business arrangements where two or more parties agree to pool their resources for the purpose of accomplishing a specific task, project, or business activity.
Economic Dissimilarities
The differences in economic conditions, structures, and performance between regions, countries, or groups.
Liability of Foreignness
The inherent disadvantages that foreign firms experience in host countries due to their non-native status, which can include cultural, legal, and economic barriers.
Nonequity Modes
Forms of international business that do not involve direct ownership of assets in another country, such as franchising or licensing.
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