Important Things To Know * Markup = P-MCP= -1price elasticity of demand * Market demand = firm’s demand for a monopoly ONLY * TR=aQ-bQ2 and MR=a-2bQ * Monopoly output is ALWAYS LESS than competitive output * Colluding leads to the ideal situation (illegal) * MC=WMPL * X=aa+b×MPx or Y=ba+b×MPy * Y = M/Py – (Px/Py)X * Isocost Line: C(Q)=wL+rK | Variation: K=TCr-wrL | Slope: -(w/r) * Isoquant Slope: -(MPL/MPK) | MPLMPK=aKbL=∆K∆L * Optimal cost-minimization:
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Notions of ‘systems’ as ‘complex wholes’ abound; ‘systems of interest’ to engineers are understood in a distinctive way. We reveal our systems thinking through language‚ images‚ models‚ specifications & references that assist understanding. We rely on ‘user‐judged’ words such as system‚ project‚ risk‚ network‚ reliability‚ environment‚ need‚ effectiveness. Their meaning is socially constructed – even within a single discipline. System a system is a set of interrelated components working together
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Chapter 4: § 1031: Like-kind exchange. Realized gain or loss is deferred until the property is sold. § 351: Gain or loss is not recognized from property exchanged for stock that results in corp control 80%. (Cash or boot is still recognized; stock”qualified preferred‚ stock rights‚ stock warranties)(Transferor must transfer prop10% services) §357(a):Liability in §351‚ liab not treated as boot for gain recognition purposes. (S/H basis‚ boot is included; Corporation basis‚ reduced by liab assumed)
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Specification Point: Notes: The major features of science. Objectivity – objective knowledge should be free of opinion or bias and based purely on empirical evidence. Replicability – the ability to check and verify the information by repeating a study. Falsifiability – the ability to demonstrate that a theory is wrong. Validating new knowledge and the role of peer review. New knowledge is published in scientific journals which act as permanent records of research. It is checked by professionals
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Planktons: groups of tiny floating organisms that cannot swim against the current. *Taxonomy: size‚ function‚ autotrophs-producers‚ heterotrophs-consumers/decomposers‚ mixotrophs‚ complex‚ symbiotic/parasitic *Small to big: femtoplankton (viruses)‚ pico (bacteria)‚ nano (diatoms‚ dinoflagellates)‚ micro(sameasnano+protozoa)‚ meso(mostly zooplankton)‚ macroplankton *Grazing food chain: Phyto->zooplk->fish *Sinking flux: dead fall to deeper ocean POM: Particulate organic material DOM:
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Associated Press Style Quick Reference Guide ● To subscribe to The Associated Press Stylebook online‚ or to find out about purchasing hard copies of the book‚ start here. ● To find out about StyleGuard for Word‚ start here. ● For slide presentations of AP Style basics‚ go here. Style Rules Examples Academic degrees ● Use an apostrophe and spell out academic degrees She has a bachelor’s degree. ● Use abbreviations for degrees only when you need to include a list of credentials after a name;
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Statement R Decrease Increase Expense E Increase Decrease Balance Sheet 2‚000 Pg. 60 DR…. To the Left CR…. To the Right Pg. 62 Current Ratio (#) = Current Assets Current Liabilities Pg. 69 More stringent test of liquidity Net Working Capital ($)= Current Assets – Current Liabilities Pg. 69 Expense Accts Equity Accounts CR Normal DR FSET Template-Balance Sheet Transaction 522 Net Income Dividends Measures Solvency (Ability to avoid
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kilometers B. Valley glaciers: flow through valleys and may be enlarged by cirque glaciers C. Piedmont glaciers: valley glaciers that flow out of the valley and onto the adjacent plain D. Icefields: massive collections of glaciers E. Ice sheets: largest accumulations of glaciers F. Rock glaciers III Formation of glaciers A. Latitude B. Elevation: each 1000-foot change in elevation causes a 3˚ change in temperature C. Slant of rays from the sun: glaciers have a better chance of
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Statistical Process Control: A process that monitors standards by take measurements and corrective action as needed. It is in control when only variation is natural‚ if variation is assignable then discover cause eliminate it. Take samples to inspect/ measure- reduce inspection time‚ reduce opportunity of bad quality. Control charts graph of process data over time-show natural and assignable causes. Control charts for variable data (characteristic that is measured‚ length‚height‚ etc) are X-chart
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Chapter 14 1. 4 main types of market structure based on number of firms in the industry and product differentiation: perfect competition‚ monopoly‚ oligopoly‚ and monopolistic competition. 2. A monopolist is a producer who is the sole supplier of a good without close substitutes. An industry controlled by a monopolist is a monopoly. 3. The key difference between a monopoly and a perfectly competitive industry is that an individual‚ perfectly competitive firm faces a horizontal demand curve but
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