3. Describe what Pareto efficiency is and why economists use this criterion for comparing alternative economic systems. Use a graphic display in this essay. The term is named for an Italian economist‚ Vilfreo Pareto. A central concept in economics is Pareto efficiency. A situation is said to be Pareto efficient if there is no way to rearrange things to make at least one person better off without making anyone worse off. What makes Pareto efficiency important is that almost everyone would agree that
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Chapter 3 Solutions‚ 3rd day Exercise 3-13 (15 minutes) 1. | Actual manufacturing overhead costs | | $ 48‚000 | | Manufacturing overhead applied: 10‚000 MH × $5 per MH | | 50‚000 | | Overapplied overhead cost | | $ 2‚000 | | | | | 2. | Direct materials: | | | | Raw materials inventory‚ beginning | $ 8‚000 | | | Add: Purchases of raw materials | 32‚000 | | | Raw materials available for use | 40‚000 | | | Deduct: Raw materials inventory
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Managerial accounting principles are utilized on a daily basis by managers and accounting professionals to assist them in making sound decision for companies. The company’s management collects and analyzes data to meet specific needs in different areas of operations. Four important areas management and accounting professionals concentrate on include budgeting‚ forecasting analysis and projection. Budgeting takes place at the onset of the fiscal year. Managers and accountants work in tandem
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John Brooks Comp 1010-34 Dec. 12‚ 2011 Striving to be a Successful Student What I knew about being a student had changed before I ever thought of attending college‚ I firmly believed my school days were long behind me at the age of fifty‚ but that belief turned out to be false. The event that changed my mind was the loss of a job due to a layoff. I knew that due to my advanced age it would be hard to secure further employment without improving my education. The logical place to start would
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MARKETING AS A MANAGERIAL FUNCTION Marketing as a managerial activity involves analyzing the market opportunities‚ planning the marketing activities ‚implementing marketing plans and setting control mechanism‚ in such a way that organizational objectives are accomplished at the minimum cost. In other words‚ marketing is: 1. Understanding consumer needs. 2. Environmental scanning and market opportunity analysis. 3. Developmental of competitive marketing plan and strategy such that an organization
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1. DESCRIBE THE MANAGERIAL LEVEL & MANAGERIAL SKILL IN HOSPITAL ADMINISTRATION MANAGMENT. Management is an art of getting things done through others. It is organized efforts so as to achive the predeterminedgoal. It is continuous process made up of various functions like planning ‚ organization ‚ controlling ‚ directing. A manager is person who is responsible for getting work done through people so he must have some skill “managerial skill”and levels “managerial levels “
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that who we are as individuals will influence our future work as therapists. Understanding one’s personality allows for the identification of weaknesses as well as personal strengths that can be drawn upon as a therapist. The characteristics of successful therapists are numerous‚ and I believe that I possess a few of the most important traits. Not only do I strive to be honest‚ passionate‚ and self-aware‚ but also appreciative of cultural influences. Being honest is one of the most important character
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09/13/13 How to be Successful in College College can be a very stressful life for many students today. However‚ in what ways can college cause stress on students? For instance‚ most students have to figure out what career choice will they chose‚ the competition for grades‚ and skills they will need to perform in class‚ or whatever the case may be‚ all of these are examples and the main reasons why many students stress over college so much. Students shouldn’t have to stress over college. Some
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and feel do you know what they mean? Are you being an effective listener to the person that is expressing their thoughts to you? Being an effective listener requires more than just hearing the words that are coming out of the speaker ’s mouth. Hearing is mechanical and requires minimal effort or skill. Listening is a skill that requires practice and concentration to avoid the barriers that are working against it (Hynes‚ 2005). Effective communication exists when the receiver interprets and understands
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1. Question : (TCO 2) A firm should concentrate on its _____ processes while outsourcing its _____ processes. Student Answer: overhead‚ core core‚ non-core non-core‚ overhead non-core‚ core Instructor Explanation: Page 2 Points Received: 5 of 5 Comments: 2. Question : (TCO 5) To assess the impact of a contract on both the buyer and seller‚ an analysis of exposure can be completed. Categories analyzed in this exposure analysis
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