ratios are not equal‚ the restaurant should change inputs. To make the ratios equal the restaurant should use more capital and less labor. This tells us that the capital is 12 times as productive and 10 times more costly. Question2 A competitive firm sells its product at a price of $0.10 per unit. Its total and marginal cost functions are: TC = 5 - 0.5*Q + 0.001*Q2 MC = -0.5 + 0.002*Q‚ where TC is total cost ($) and Q is output rate (units per time period). (a) Determine the output rate
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Transaction processing system Transaction processing is a style of computing that divides work into individual‚ indivisible operations‚ called transactions. A transaction processing system (TPS) or transaction server is a software system‚ or software/hardware combination‚ that supports transaction processing. • History One of the first transaction processing systems was American Airline SABRE system‚ which became operational in 1960. Designed to process up to 83‚000 transactions a day‚ the system
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Transaction Processing Systems Definition: A Transaction Processing System (TPS) is a type of information system that collects‚ stores‚ modifies and retrieves the data transactions of an enterprise. A transaction is any event that passes the ACID test in which data is generated or modified before storage in an information system Features of Transaction Processing Systems The success of commercial enterprises depends on the reliable processing of transactions to ensure that customer
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Enron’s Questionable Transactions 1. The special purpose entities (SPEs) got Enron into trouble. 2. It is debatable whether Enron’s directors knew how profits were being made through the SPEs. Speculation is that they did have knowledge‚ but did not question the questionable procedures. Evidence that indicates the directors knew how profits were being made includes the following: • Andrew Fastow’s role in establishing the SPEs and falsely creating 3% independent investors in
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SECURE ELECTRONIC TRANSACTIONS Introduction Secure Electronic Transactions (SET) is an open protocol which has the potential to emerge as a dominant force in the securing of electronic transactions. Jointly developed by Visa and MasterCard‚ in conjunction with leading computer vendors such as IBM‚ SET is an open standard for protecting the privacy‚ and ensuring the authenticity‚ of electronic transactions. This is critical to the success of electronic commerce over the Internet; without privacy
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The similarities between Joyce’s Ulysses and Homer’s Odyssey are unmistakable even from Joyce’s choice of title as Ulysses is the Latin derivative of Odysseus the hero portrayed in Homer’s Odyssey. Adding to the comparisons between the two are the numerous characters portrayed throughout Joyce’s novel as they are a direct modernised parallel to those depicted in Homer’s poem. Joyce’s character Leopold Bloom is a mirror image to Homer’s Odysseus as is Odysseus’s son Telemachus interpreted through
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A. FIRM AND ITS OBJECTIVE: Conventional theory of firm assumes profit maximization is the sole objective of business firms. But recent researches on this issue reveal that the objectives the firms pursue are more than one. Some important objectives‚ other than profit maximization are: (a) Maximization of the sales revenue (b) Maximization of firm’s growth rate (c) Maximization of Managers utility function (d) Making satisfactory rate of Profit (e) Long run Survival of the firm (f) Entry-prevention
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Once again Hillenbrand uses her stylistic imagery. Here‚ like many other times‚ she tries to appeal to emotions by describing how physically pathetic Louie has become. However‚ Louie’s interior monologue makes a statement that narration can not quite capture. The analogy comparing his current state to that of a “dead body breathing” provides insight to Louie’s mindset after capture. While he recognizes that he miraculously alive through his personification of a dead body‚ his state is far from acceptable
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I had such a great time decorating my mask in class this week! To be honest‚ I was a little terrified going into class that I wouldn’t be able to decorate my mask to my own expectations without spending a few hours on it‚ or that I would not be able to express the concept that I had created in my mind for my mask. As I worked on it‚ however‚ my worries faded away and I felt at ease because the activity in itself was so relaxing. After I gathered the paint‚ glitter‚ and feathers that I felt so
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suppliers Sent by the buyer to the supplier Its an invitation sent to a shortlist of bidders to make a formal and detailed offer to supply the services or goods required INVOICE Commercial document issued by a seller to a buyer‚ relating to a sale transaction and indicating the products‚ quantity and agreed prices for products or services the seller has provided the buyer Used when a customer would like to know the details of their purchase and what they are paying for Sent by the buyer to the supplier
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