1.A Patek Philippe watch auctioned in Geneva, held by Christie's, sells for $31 million, making it the most expensive wristwatch ever auctioned. Does this situation best represent buyer-buyer rivalry, seller-seller rivalry, or buyer-seller rivalry? Explain.

2.What is the maximum amount you would pay for an asset that generates an income of P550,000 at the end of each of five years if the opportunity cost of using funds is 9 percent?

3.You are the manager in charge of the international operations at Clean-Well, a large manufacturing company in several countries in Asia. As a manager, you are tasked whether or not to launch a new advertising campaign in the Tokyo market. Your accounting department furnished a statement summarizing the financial impact of the ad campaign in Tokyo. Your goal is to maximize the Clean-Well value. Should you launch the new campaign? Explain.