2015 1. What is Profit Maximization using TR-TC Approach? Profit Maximization using TR-TC Approach is a method in determining the Profit and the Loss of a certain Company. To obtain the profit maximizing output quantity‚ we start by recognizing that profit is equal to total revenue (TR) minus total cost (TC). Given a table of costs and revenues at each quantity‚ we can either compute equations or plot the data directly on a graph. (Lipsey‚ 2011) Figure 1.Illustration of Profit Maximization using
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held out to all who should discover any new refinement in luxury‚ the profits arising from which were secured to the inventor by patent for the space of a year.” (Anthon，1841) That means if you create something in luxury‚ you could get profit from the sale in one year. With the development of society‚ people began to use paper to record patent. In 1449‚ John of Utynam got a letter patent. This patent gave him a twenty-years monopoly which helped him to protect his new glass-making process. At that time
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Monopoly for the Potato Chip Industry A monopoly is a company that provides a product or service for which there are no close replacements and in which significant barriers of entry can either prevent or hinder a new company from providing competition (Case‚ et al.‚ 2009). Take into consideration the potato chip industry in the Northwest are not only competitively structured but are in long-run equilibriums. The firms were earning a normal rate of returns and were competing in a monopolistically
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THE PASSIONS AND THE INTERESTS – ALBERT O. HIRSCHMAN As you can see‚ my segment of the presentation is divided into four parts. In the introduction I will attempt to re-emphasize a few key issues already mentioned by some of my fellow presenters. I will then consider how Hirschman continues to discuss the rise of capitalism in terms of what he coins: reflections on an episode of intellectual history. The next step will be to view some of the key names mentioned in the third part of the text
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developmental needs. It should make all children including ones with special needs -feel secure‚ comfortable and a place where they belong. The interest areas should allow the children choices to explore‚ make things‚ experiment‚ and pursue their interests. The choices should include"quiet zone" areas for reading‚ art activities‚ and games. Areas should also be set for block building‚ dramatic play‚ woodwork‚ sand and water (discovery table) for active engagements. All the interest areas should accommodate
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practices. Within monopoly there tends to be limited competitors because of there is no substitute for the product for which the company produced. A true monopoly is to keep a competitor out of the market and to put obstacles to discourage competitors in the market which is considered Barriers to entry without having high barriers the companies don’t tend to stay in business very long. Since we are a capitalistic economy entrepreneurs are constantly seeking profit. Monopoly is important to the
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Interest Groups Interest Group is defined as "an organized body of individuals who try to influence public policy." This system is designed so that interest groups would be an instrument of public influence on politics to create changes‚ but would not threaten the government much. Whether this is still the case or not is an important question that we must find out. Interest groups play many different roles in the American political system‚ such as representation‚ participation‚ education‚ and
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Nations‚ like individuals‚ have interests--derived from their innate values and perceived purposes--which motivate their actions. National interests are a nation’s perceived needs and aspirations in relation to its international environment. Categorization of national interests : 1. Survival(Critical) These represent the single most important interests for any actor. This is the very essence of the actor’s existence – the protection of its citizens and their institution from attack by enemies
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PERSONAL INTEREST Every profession has sacred principles or ethics governing its operation or activities. Banking is no exception. Some of these principles defining sound banking behaviours are; 1. control mismatch between assets and liabilities 2. know your counterparty 3. expand cautiously into unfamiliar activities 4. avoidance of undue concentration of loans to a single activity‚ individuals and group But in a situation where banks all over the world are found wanting in terms
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This is to enable and sustain their nations and business interest in a rapidly globalising and ever more challenging world. In government‚ public relations specialists—who may be called press secretaries‚ information officers‚ public affairs specialists‚ or communication specialists—keep the public informed about the activities of agencies and officials. For example‚ public affairs specialists in government information agencies keep the public informed on policies and issues relating to their area
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