In December 1989, General Electric spent $150 million to buy a controlling interest in Tungsram, the Hungarian
Question:
a. What might account for GE's decision to spend so much money to acquire such a dilapidated, inefficient manufacturer?
b. A Hungarian lighting worker earns about $170 a month in Hungary, compared with about $1,700 a month in the United States. Do these figures indicate that Tungsram will be a low-cost producer? Explain.
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