Recognizing opportunities and threats in the external environment is vital to firm success. Complexity and rapid evolution make it critical for employees and managers to become more aware of trends and events. 31) Group of answer choices environmental human resource outside internal

GMC is producing cars using machines (K) and labor (L). The technology is capital intensive; the production function is given by F(K, L) = K(3/4)L(1/2). The value of GMC physical capital (machines, real estate etc.) is equal to K =$16 billon (in calculations ignore billions). We analyze rm's behavior in the short run (note K cannot be changed in the short run). Suppose the price of a car is equal to p and the wage rate is w (parameters).

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