make to an outsider to obtain a resource. An implicit cost is the monetary income a firm sacrifices when it uses a resource it owns rather than supplying the resource in the market. Say you owned a deli shop. Examples of explicit costs would be the salaries of your employees‚ the cost of the building (electricity‚ plumbing‚ etc.) and all the different ingredients and foodstuffs you need to purchase in order to make the sandwiches. Examples of implicit costs is the opportunity costs of running such
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supported (though not without dissent) so-called “implicit bias”—thoughts and ideas‚ like stereotypical racial attitudes‚ that we do not recognize we have‚ but that we have nonetheless. Researchers at Cornell have found that implicit biases can manifest in judicial decisionmaking‚ with one study concluding‚ in clear terms‚ that “implicit biases can affect judges’ judgment[s]” (Rachlinski‚ 2009). In that study‚ black judges showing black-favoring implicit bias were more
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Econ2TEST4 Multiple Choice Identify the choice that best completes the statement or answers the question. ____ 1. Five months ago Wilson opened up a health club. Which of the following is an implicit cost related to the health club? a. Wilson paid $120 for an outside laundry service to clean the towels used at the club. b. Wilson paid $100 for the pest control exterminator to spray the health club. c. Wilson previously worked as an accountant‚ earning $3‚000 a month. d. Wilson usually eats four
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is therefore essential to have clean understanding for the different types of cost.There are several types of costs that a firm may consider relevant under various circumstances. Such costs include future costs‚ accounting costs‚ opportunitycosts‚ implicit costs‚ fixed costs‚ variable costs‚ semi variable costs‚ private costs‚social costs‚ common costs‚ etc. For the purposes of decision-making‚ it is essential toknow the fundamental difference between the main cost concepts along with theconditions
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arguing about how “Charlottesville Is the Ugly Wake-Up Call America Needed”. Inside her article‚ she writes that she is of African descent. Ms. Nelson argues that America needs a wake up call‚ and supports her argument‚ more or less‚ with tone‚ implicit claims‚ and rhetorical appeals. Tone‚ according to Webster’s dictionary‚ is “[the] style or manner of expression in speaking or writing”. Ms.
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About DICOM DICOM is a communication protocol used for transfer of medical images. DICOM protocol is an object oriented protocol and has two parts as follows: 1. IODs 2. Services IODs (Information Object definition): IOD can be explained as the data members of the object oriented system. For example CT image is an IOD for is generated by say CT machine. IODs can be of two types A. Normalized: Normalized IODs talk about only 1 entity. For example Patient. This IOD will have information
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Readings: How ethical are you? Four types of bias * Implicit prejudice(bias that favours majority) bias that emerges from unconscious beliefs‚ because people tend to associate things that commonly go together and expect them to inevitably coexist (thunder and rain). Implicit prejudice arises from the ordinary and unconscious tendency to make associations‚ but this is not conscious forms of prejudice‚ such as overt racism/ this is problem is inherent * In-group favoritismbias that favours
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(1992) defined a service guarantee as a statement explaining the service customers can expect and what the company will do if it fails to deliver the payout. Service guarantees can be classified into five different types (specific‚ unconditional‚ implicit‚ external‚ and internal service guarantees) according to the scope of the service guarantee and the payout (Hart‚ 1993; Kashyap‚ 2001; Wirtz‚ 1998). Specific service guarantees provide a detailed guideline of the guarantee scope and payout to consumers
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norms‚ norms that have been openly written or spoken (Straker‚ 1) and implicit norms‚ norms that are understood but not precisely recorded (Kornblum‚ 59). Explicit or formal norms have clear rules for punishment. Creating a disruption during the movie is grounds for ejection from the theater. Most theaters openly state during the previews that cell phones need to be turned off and that talking should be kept to a minimum. Implicit or informal norms regulate seat selection
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REVIEW OF FACTS Rock Creek Golf Club is a public golf course owned by a private company and managed by Lee Jeffries. The case entails a debate about the golf carts used to take players around the course instead of walking around. The carts they already owned were old and there was a need for new golf carts. Approached by two salesman‚ Lee Jeffries was forced to chose to make a deal with one of them. Salesman A offered carts at $2‚240 each and at the end of five years the expected salvage value
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