Ronald Coase noted‚“The cost of doing anything consists of the receipts that could have been obtained if that particular decision had not been taken.” For example‚ the opportunity set for this Friday night includes the movies‚ a concert‚ staying home and studying‚ staying home and watching television‚ inviting friends over‚ and so forth. The opportunity cost of taking job A included the forgone salary of $102‚000 plus the $5‚000 of intangibles from job B. Opportunity cost is the sacrifice of
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System Key words: Social Media‚ Social Network System(SNS) ‚Information technology‚ Administration System‚ Political Affairs‚ Spiral of silence‚ politician‚ citizens‚ publicity of government‚ agenda setting‚ Internet Politics‚ Twiplomacy‚ low-cost‚ high efficiency‚ network deception‚ information explosion. Focus: Social media refers to the means of interactions among people in which they create‚ share‚ and/or exchange information and ideas in virtual communities and networks. Since‚ Political
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Utilization of Waste Plastic in Bituminous Mix for Improved Performance of Roads’ (Plastic Road) Disposal of waste plastic is a major problem .It is non-biodegradable .It mainly consists of low-density polyethylene .Burning of these waste plastic bags causes environmental pollution.To find its utility in bituminous mixes for road construction.Laboratory performance studies were conducted on bituminous mixes .Laboratory studies proved that waste plastic enhances the property of the mix .Improvement
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Case studies Chapter 2 1. One of the most unusual restaurants we have today is Bagger’s Nurnberg in Germany. We all have all grown tired of slow services in food chains‚ or being bothered by Walters in restaurants. In Baggers‚ say goodbye to slow service and rude Walters‚ as this modern restaurant takes you to a fully automated and futuristic dining experience. Right from ordering food using touch screen machines on your table to delivering food right in front of you‚ Baggers will amuse you
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Structure Setting and Adjustment | Definition | A pay structure is a collection of pay rates or pay ranges.Structure setting and adjustment is the process of developing‚ adjusting‚ and maintaining a pay structure. | Purpose | Pay structures are used to help organizations: * maintain pay levels that are competitive with the external labor market‚ * maintain internal pay relationships among jobs‚ * recognize and reward differences in level of responsibility‚ skill‚ and performance‚ and
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The Road to Mecca – Study guide questions Exercise page 75 1) 3 2) Helen‚ she is the protagonist of the play. The entire play is played out in Helen’s home. She is also the reason Elsa comes to New Bethesda‚ to visit Helen because she is worried about her emotional state. Helen is also the reason for Marius’s visits; he cares for her and tries to fit her into his world. All of the characters gather at Helen’s home to discuss her emotional state and future. 3) Elsa relates to Helen through her “Mecca”
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colossal giants crumbling to their knees. The prime aim is to throw light at the subtle inconsistencies that can cost the companies far more than just money but their entire image. The asset of ‘good will’ has its nemesis in these unethical practices surfacing. Management accountants work inside a company‚ handling all internal accounting data. These individual often allocate production costs‚ create management reports and provide support for managerial decisions. Ethical issues can result from managerial
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Everyone on the network can use the same data. This avoids problems where some users may have older information than others. 9.2 Cost Minimization of LAN resource sharing: The cost can be minimized by sharing Expensive devices such as laser printers or scanners. When we share the peripherals among some workstation without buy a different peripheral for each computer‚ the cost is ultimately minimized. Even for file storage‚ we can use a central file server to store all files instead of having them in
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CASE STUDY Aeronautica Civil: Achieving Competitive Advantage in a Noncompetitive Industry As noted in the chapter‚ competitiveness in government agencies can sometimes be expressed as “competing against yourself.” Essentially‚ an organization sets goals that are significantly higher than current performance and puts processes and systems in place to meet those goals‚ thus effectively competing against its former performance. Aeronautica Civil (aerocivil.gov.co) is Colombia’s aircontrol agency
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accounting profits and economic profits for Gomez’s pottery. Explicit costs: $37‚000 (= $12‚000 for the helper + $5‚000 of rent + $20‚000 of materials). Implicit costs: $22‚000 (= $4‚000 of forgone interest + $15‚000 of forgone salary + $3‚000 of entreprenuership). Accounting profit = $35‚000 (= $72‚000 of revenue - $37‚000 of explicit costs); Economic profit = $13‚000 (= $72‚000 - $37‚000 of explicit costs - $22‚000 of implicit costs). 8-4 (Key Question) Complete the following table by calculating
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