Part 1-250 WordsConsider an American automaker like GM with almost 400 production facilities located in 37 countries and sales in over 150 countries! To maximize profits, what decisions does GM have to make in regard to pricing and production?Part 2-250 words Small mistakes are the stepping stones to large failures. How might this saying apply to this lesson, and do you agree?In your responses, provide an example of a real-life seemingly small mistake with large consequences.Part 3- 250 words Why is knowing (or estimating) the product demand so crucial for a firm?In your response, include an example of a business that has suffered from poorly estimating the demand of its products. Evaluate how or why the business made such a mistake.
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