Application_Problems_Ch08 - Chapter 8 Applications Problems...

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Chapter 8: Applications Problems 1. The Kronos Quartet is a classical music string quartet that operates under the auspices of the Kronos Quartet/Kronos Performing Arts Association, a nonprofit organization. The quartet's repertoire is heavily loaded with avant-guarde contemporary works including works commissioned for the quartet itself. This is unusual for a string quartet, and meets with some criticism from more traditionally minded classical music lovers. Nonetheless, the quartet's ensemble work is excellent, as is true for many premiere string quartets. The quartet is well known around the world. Take a tour of the organization's website, , and answer the following questions. a. Has the organization taken any steps to create value? Explain. b. Regarding the idea of capturing value, do you think the quartet has any superior factors of production vis-à-vis other string quartets? Discuss. 2. The University of St. Thomas, located in the Twin Cities of St. Paul and
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