Besanko Solution - 5777 Words

Besanko Braeutigam – Microeconomics, 3rd edition Solutions Manual Chapter 8 Cost Curves Solutions to Review Questions 1. The long-run total cost curve plots the minimized total cost for each level of output holding input prices fixed. In other words, for a given set of input prices, the long-run total cost curve represents the total cost associated with the solution to the long-run cost minimization problem for each level of output. When the price of one input increases, the isocost line for a particular level of total cost will rotate in toward the origin. Assuming the isocost line was tangent to the isoquant for the firm’s selected level of output, when the isocost line rotates it will no longer touch the original isoquant. In†¦show more content†¦Since average fixed cost is always declining, and since average total cost is the vertical sum of average variable and average 9. Copyright  © 2008 John Wiley Sons, Inc. Chapter 8 - 2 Besanko Braeutigam – Microeconomics, 3rd edition Solutions Manual fixed costs, average total cost must also be declining at all levels of Q if average variable cost is constant. Graphically, average total cost will be declining and asymptotic to the average variable cost curve. 10. The long-run average cost curve is the envelope to the short-run average cost curves associated with each level of output. If each of these short-run average cost curves has the same minimum point, the long-run average cost curve will be a horizontal line tangent to all of these minimum points. Because the long-run average cost curve will be flat, long-run average cost is neither increasing nor decreasing, and the long-run marginal cost curve will also be flat and equal to long-run average cost. Economies of scale refer to a situation when average total cost for a single product declines as the level of output for that product increases. These economies of scale might occur, for example, because workers can specialize in tasks as the level of output increases and the wor kers’ productivity may increase. Economies of scope refer to efficiencies that arise when a firm produces more than one product. In particular, economies of scope exist if one firm producing N productsShow MoreRelatedBusiness Analysis- International Strategy and Competitive Advantages for Global Company Apple1130 Words   |  5 Pagesinto the competitive advantages of Apple Inc, which enable it to maintain competitive edge In the PC industry globally. In addition, paper briefly highlights the benefits and shortcomings of the strategies adopted by Apple Inc, giving potential solutions and strategies based on the available data. International strategy According to Iliev et al (2004, p. 133), Apple Inc. uses a combination of product development and product proliferation strategies to achieve and maintain its international competitivenessRead MoreManagerial Economics: Assignment2076 Words   |  9 PagesFurther, costs will come from monitoring the performance and, in some cases, from legal costs due to contractual breaches. The effectiveness of contracts hence depends on the completeness of the contract and the available body of contract law (Besanko – 2010) In the real world most of the contracts are imperfect due to the impossibility to map every possible contingency. The main factors that prevent complete contracting are: (1) bound rationality (2) difficulties measuring performance (3)Read MoreHow Business Dynamics Evolve Over Time2032 Words   |  9 Pagesto fully understand competition within a market, we must identify how business dynamics evolve over time and know the conditions that encourage or deter entry within a market. Entry is defined as the beginning of production and sales in a market (Besanko et al), with new firms incentivised to enter by the potential profits available within an industry. However this threat of entry is limited through the structural and strategic barriers embedded in the market, which limit the profitability of newcomersRead MorePrice Elasticity of Demand for Logistics and Transport1404 Words   |  6 Pageslogistics industry in China, especially discuss cause and effect of phenomena such as full warehouse, freight rates, express delivery company s competitive model transformation in the holidays. depending on the model and Phenomenon make recommendations solutions. Key words: Demand Price Elasticity express delivery transportation 1. Brief introduction Third-party logistics companies for the provision of goods delivery services will charge a return to compensate for costs incurred in theRead MoreCritically Evaluate the Main Potential Advantages and Disadvantages of Horizontal Expansion for a Company.1535 Words   |  7 Pagesways. There is no magic solution and no â€Å"get rich quick† recipe. The business need to keep a sharp eye on its own and its competitors performances and strategies, as well as be aware or how other industry sectors are performing. But the trend seems to hint diversification is the way ahead. Bibliography Lowes, Bryan (Ed/s Pass, C. L., Sanderson, Stuart). 1994. Companies and markets : understanding business strategy and the market environment. .Blackwell Besanko, David. 2004. EconomicsRead MoreA Critical Analysis of Change Resistance Within the Nhs5138 Words   |  21 Pagesprogressively looked to integrate politically and economically placing more emphasis on ‘free trade’ and market based solutions. The power of the Soviet Union was beginning to diminish, with the collapse of the Berlin Wall and in China (Ruan et al, 1995) Deng Xiaoping was moving the communist party of China towards considering economic reforms that would lead to a drift towards market based solutions away from the Centrally-planned ideology. All of these enormous changes resulted in significant conflict withinRead More101 Economics - Consumer Theory Easily Explained2732 Words   |  11 Pagesproblem of the consumer What the consumer buys Chosen set of goods The chosen bundle of goods maximises utility (graphically: it is on the highest indifference curve) and exhausts the budget (it is on the budget line). The chosen good is the first solution matching certain sufficiency criteria or is s e l e c t e d a c r o s s simple comparisons, p o s s i b l y taking into account the cumulative bundle. No change of quantity or discrete changes on the few goods concerned Effects of marginal changesRead MoreManagement3255 Words   |  14 Pagescompany still has one factory in area 3, and the current level of direct production cost decreased due to economies of scale, which completely offsets the transportation charge of â‚ ¬8 per unit for the product delivered to other areas. The alternative solution of locating a factory in one of another areas is currently considered to be not economically effective, since the upfront investment of minimum â‚ ¬11 million would only deliver the factory with the smallest possible production capacity of 400 toolsRead MoreKellogg Case Book36421 Words   |  146 Pagesdeclined last year. Firm X’s reduced profits could be due to sagging revenues, rising costs, or both. Given that your interview time is limited, it is important to prioritize the issues you will investigate in the case. Investigate the most likely solution to the problem first, followed by the second most likely, and so on. The initial information that you have been given 2004 Kellogg Consulting Club Case Book 14 may steer you towards a particular path. Take cues (subtle or overt) from yourRead MoreSolution Manual, Test Bank and Instructor Manuals34836 Words   |  140 Pagesneed any solution manual, testbank for testbooks from the list, do contact us anytime, we provide competitive prices and fast delivery after payment done. Contact us: smtbportal@gmail.com smtbportal(at)gmail(dot)com 2010 Corporate Partnership Estate and Gift Tax with HR Block TaxCut 4e Pratt Kulsrud Solution Manual 2010 Corporate Partnership Estate and Gift Tax with HR Block TaxCut 4e Pratt Kulsrud Test Bank 2010 Federal Taxation with HR Block TaxCut 4e Pratt Kulsrud Solution Manual

Today’S Lesson Will Be.... . The Class Takes Their Seats,

Today’s Lesson will be... The class takes their seats, shuffling slightly as they turn to the board, pulling paper from their bags and poising pencils. Their teacher greets them with a brittle smile, silently takes account who is present and turns his back to the class to write. The girl with perky pigtails and a scattering of freckles takes the liberty of writing down what she knows from the book of Genesis, internally smiling because she has already been taught this lesson. God created the universe in six days, taking the seventh day to rest after he created Adam and Eve. While she writes her swinging feet nudge the dark haired boy next to her who also knows all about today’s science lesson, after all his dad is a physics†¦show more content†¦Badertsher and Ginsburg urge that there must be an alternative taught alongside the evolutionary theory, and that alternative should be the theory of creationism. The pair plunge right into explaining creationism to the reader, not wasting time on much else. Rich and Donnelly opt to ease into the theory of evolution, rather than sparking up their discussion with a direct explanation they choose to explain what a theory is by definition. They state that it is essential to understand that a theory must be tested, and adequately explain what is known and unknown. This trend is carried consistently through the two argument, and as an unbiased reader I thought that Badertsher and Ginsburg would have had a more influential view, but that did not seem to be the case. In my opinion Badertsher/Ginsburg leave a lot open to question: they do not elaborate on what Intelligent Design is, they do not seem to really address to science behind the Creationism Theory (which there is an array of things). I feel that they should have developed more upon things such as â€Å"the limitations of such a belief [evolution] lead us to the necessary conclusion that there is a divine hand at work† (Badertsher). Or mayb e taken the time to talk more aboutShow MoreRelatedWorld Language Level 1a Cornerstone 1 : My Interview1077 Words   |  5 PagesWorld Language Level 1A Cornerstone 1: My Interview Lesson Plan Full-Cornerstone Lesson Plan Approximately 3.0 hours of instruction Brief Lesson Description: This lesson is designed to expose beginning level middle school and / or high school students to the vocabulary used to describe oneself. Students will be able to interpret basic personal information as well as present their own information to others. Embedded Accessibility Supports: Graphic organizers, sentence stems, PPTs Materials andRead MoreMr. Chad Hebert s Health Class At Oak Park Middle School964 Words   |  4 PagesMy observation was in Mr. Chad Hebert’s health class at Oak Park middle school. 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The first is for a student to feel they are in a safe environment; physically safe from bullying or injury as well as the safety to make a mistake or to be wrong sometimes. The second is that the instructor should approach each lesson with the conviction that every child can and will learn. Finally, the third is for the instructor to assess the mast ery level of the students on any given skill, meet them where they are, and then facilitate growth to the students’ potential. StructuresRead MoreToday’S Classroom Visit Was Quite Different Than Any Other1602 Words   |  7 PagesToday’s classroom visit was quite different than any other time that I have been in Mrs. Kingston’s class. Due to the fact that March is Reading month is coming to a close tomorrow, Mrs. Kingston had to adjust her schedule for today and tomorrow because the students have an assembly and book buddies that they have to participate in, which are not normal Friday activities. All of this to say that today was a treated more as a catch up day. Students spent most of the morning catching up on their handwritingRead MoreDrugs, Alcohol, And Addiction Unit1486 Words   |  6 PagesDrug, Alcohol, and Addiction Unit Lesson One: Introduction to Alcohol Learning Objective: By the end of the lesson the students should have a good grasp on the fact that when you put alcohol in your body you can’t do things you normally would be able to do. Activity: Dollar Bill Jump Concept: When you are under the influence of some drugs, you have the belief that you can accomplish certain tasks when in reality you can’t. This activity sounds so easy that everyone thinks they could do it. HoweverRead MoreTeaching Writing : Balancing Process And Product Essay1380 Words   |  6 Pages By demonstrating what the strategy is on the board, speaking what is happening and what is going on during the teachers thought process the teacher can better reach the students. I also think that after the teacher demonstrates the strategy, the class as a whole should practice on a piece of writing before attempting the strategy individually. This type if teaching writing is known as modeled writing, which â€Å"is the greatest level of support because teachers can create the text themselves† (Tompkins

Promote Equality and Inclusion Free Essays

Promoting Equality And Inclusion I am writing this booklet to inform all members of staff, adult carers, children and young people about supporting understanding and to raise awareness of equality, diversity and inclusion. Equality and inclusion are moral and legal obligations. As a practitioner you have a role in ensuring that in all aspects of your work every personas given opportunities to thrive and prevent any barriers that may stop them from reaching their full potential. We will write a custom essay sample on Promote Equality and Inclusion or any similar topic only for you Order Now Equality and inclusion are moral and legal obligations. As a practitioner you have a role in ensuring that in all aspects of your work every personas given opportunities to thrive and prevent any barriers that may stop them from reaching their full potential. Diversity. Diversity means difference. People are different in values such as race, religion, beliefs, disability, sex and values. Even though people are different this doesn’t mean they are excluded from society, everyone has similarities such as common interests. ‘Diversity refers to the differences in values, attitudes, cultures, beliefs, skills and life experience of each individual in any group of people. ’(Meggit, C. 011, Page 27) Equality ‘Equality is about creating a fairer society, where everyone can participate and has the opportunity to fulfill their potential’ (London deanery, 2012). Equality does not mean that everyone has to be treated the same. People have different needs and ambitions, every person should have equality of opportunity. Promoting equality should remove discrimination in all of the areas of bullying, harassment or victimization. Inclusion ‘Inclusion is a term used to describe the process of ensuring the equality of learning opportunities for all children and young people, whatever their disabilities or disadvantages. (Meggit, C. 2011, page 27). Children and young people should be able to have the opportunity to do well. This is the opposite to discrimination. Discrimination Discrimination is not treating people equally based on personal characteristics, such as race and colour. Discrimination is usually based on prejudice and stereotypes. A prejudice is a pre-conceived opinion or in favour of something. It is prejudging someone knowing little about them but jumping conclusions because of a characteristic such as their appearance. A stereotype is a person or thing that conforms to an unjustifiably fixed, usually standardised, mental picture. The most common stereotypes are: sex and gender, racial origins, cultural or social background, disability and age. There are two types of discrimination : direct discrimination- This is when a child is treated less favourably than others for example being bullied is direct. ‘Indirect discrimination-this is when a condition is applied that will unfairly affect a particular group of children or young people’. (Meggitt,C (2011) p. 29) Potential effects of discrimination Discrimination prevents children and young people from developing a feeling of self-worth or self-esteem. Being discriminated against can last the whole child’s life. This means that they may not be able to fulfill their full potential maybe in school and in life they will find it hard to form relationships with others such as teachers and friends this is down to the lack of confidence they have from the discrimination and also lack of self-esteem and self-worth. They will eventually believe the stereotype or label they have being given from the discrimination against them and behave in accordance to others expectations and accordingly to the stereotype. The child or young person may feel like they are to blame for their unfair treatment and so withdraw themselves; this may lead to aggression and will prevent children and young people from interacting cooperatively with other children and young people. H ow inclusive practice promotes equality and supports diversity ‘Inclusive practice is term used within education of ensuring equality of learning opportunities for all children and young people whatever their disabilities or disadvantages. ’ (Meggit,C,2011, page 30). We have a diverse population and some of this diversity brings with it a range of social and educational issues that practitioners will need to recognise, understand and work with. All practitioners must work in a way that supports equality of opportunity and promotes diversity and inclusion. This means breaking down barriers that prevent children and young people from fulfilling their full potential. You must challenge all discrimination and follow the laws and policies set in your workplace. Differentiate all activities set to enable all children take part and achieve this is promoting equality, also promote all positive attitudes towards diversity by making sure all that the materials, toys, books and displays reflect the diverse society that we live in. Practitioners Bibliography London deanery available at http://www. faculty. londondeanery. ac. uk/e-learning/diversity-equal-opportunities-and-human-rights/what-is-equality-and-diversity (accessed on the 4th October 2012) Meggit,C. Kamen,T. Bruce,K. Grenier,J. (2011)children and young people’s workforce. 1st edition. London;Hodder Education. How to cite Promote Equality and Inclusion, Essay examples