resources financially ‚ we as consumers are now faced with the choice of what to purchase and how much to purchase so that we may satisfy our appetite whilst still remaining well within our allocated budget. This scenario is basically the concept of economics’ placed into practice in one’s everyday life. To the average consumer purchasing products or goods that are relatively close to the product’s expiration date may seem risky‚ hazardous‚ life threatening to one’s health or to the more skeptical individual
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MC equals MR‚ the profit is maximized. From the above table‚ when output level is 140 minutes‚ marginal revenue equals marginal cost ($10000=$10000)‚ so the profit-maximizing level of output is 140 minutes. (d) When the industry exists positive economic profit‚ it will attract new firms to enter into the industry. However‚ no more licenses will be offered by government‚ so no any new firm entering the industry. (e)(i) Collusion is a formal or tacit agreement to limit competition by setting output
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THE EFFECT OF BIRTH ORDER ON HAPPINESS Happiness is sought after by many: inspirational speakers and motivational writers have made millions of dollars just by telling people how to reach their desires and how to achieve happiness. People crave step by step instructions and personal insight on how to save their marriage‚ friendship or even their career. Happiness can be measured in many different aspects such as: marriage‚ success‚ extraversion‚ self-esteem‚ optimism and a sense of self control
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2.0 Factors that Cause Poverty It has many factors that cause to poverty for a country. This happens because on this world‚ it has too many people but just has few jobs and lack of foods for all people to survive. Some of the causes that cause to poverty are overpopulation‚ education‚ wars‚ corruption‚ and lack of resources‚ politics‚ and natural disaster and so on. 2.1 Overpopulation First of all‚ the factor that has cause to poverty is overpopulation. For example‚ Vietnam is one of the countries
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The Balance of Liberty and Order History 101 During the 1780’s there was much turmoil and conflict in establishing a solid government. It seemed that everyone had their own opinion on what would be beneficial to maintain liberty and order. There were many problems with the Articles of Confederation‚ which had a failing result. The Articles of Confederation were the initial cause of the dramatic decline in the organization of the early United States. In response to this‚ people had many different
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Sales Manager | [Memo and Purchase Order] | Attached is the memo for a computer upgrade and it purchase‚ also attached is the purchased order for easy refereance | | FROSTY inc. | Memo To: | Sales Director | From: | Sales Manager | cc: | Purchasing Dirctor | Date: | October 12‚ 2012 | Re: | Computer Systems Upgrade and Purchase | | | After being given a $2500.00 budget‚ I have complete my research and have produced a purchase order which will fit the require specifications
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Chapter 1 The Big Ideas in Economics Think of why some goods should be allocated by money while some not. Why demand curve is downward sloping? Two effects: 1.Substitution effect (dominent) 2.Income effect (small) The demand&supply curve can be read horizontally or vertically. You should be familiar with both ways of reading. Chapter 3 Supply&Demand Concepts: 1.A normal good: a good for which demand increases when income increases. An inferior good: a good for which demand decreases
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The Chinese World Order: From Tribute to Treaties Submitted by: MEISNAM RAJESHWOR MEITEI M.A EAST ASIAN STUDIES 2nd semester Introduction Chinese civilization with nearly five-thousand years of recorded history is one of the oldest in the world. China’s vast historical record have well documented about the so called
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In the world of economics‚ the two main recognizable concepts are supply and demand. These two simple lines influence the factors in the free market. This paper examines how the laws of supply and demand influence the process of reaching market equilibrium for USB flash drives. Law of Supply The law of supply states that‚ “other things equal‚ firms will produce and offer for sale more of their product at a high price than at a lower price” (McConnell‚ Brue‚ & Flynn‚ p. 54). The basic determinants
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Executive Order 9066 was a United States presidential executive order signed and issued during World War II by Franklin Roosevelt. It ultimately allowed the placement of Japanese-Americans into internment camps. This practice was not only wrong‚ but a server infringment on the 4th amendment rights of these citizens for many reasons. First and foremost‚ the 4th amendment prohibits the unreasonable searching or seizing. These american citizens had no reason to be suspected other than their ancestry
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