1 Reasons for inefficiency in monopolies 1.1 Monopolies and pricing A monopoly prices its products where marginal costs meet marginal revenues to maximise profits. Due to the fact that this price is higher than the market price in perfect competition‚ many consumers are not able or willing to buy at the higher price. This deadweight loss is an allocative inefficiency. Figure 1: Pricing in monopolies and perfect competition The consumer surplus in perfect competition is 1+2+4‚ and
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Reason is a way of knowing in which we construct meanings together through modifying and improving individual opinions and ideas‚ in order to reach a plausible or logical conclusion. In other words‚ reason is the ability to help people decide what is true and what is not. Most of the time‚ reason is more commonly related to math and science subjects‚ where logic is put into place in order to obtain logical validity and justify claims. Through observations and experiments‚ we can prove‚ within reason
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2012 Combat of Passion and Reason Wandile Sihle Nzimakwe 211546206 PHIL203: Ways of Reasoning Wandile Sihle Nzimakwe: 211546206 2012 Combat of Passion and Reason Wandile Sihle Nzimakwe 211546206 PHIL203: Ways of Reasoning Introduction The view that reason is the superior principle and it causes an action is a fallacy. Having said this‚ Reason alone can never cause action. What really causes an action is a Passion to act according to what you desire to do. Reason however can be a passion’s
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imperialism are religious‚ economic‚ and political. I believe that the most important motive for british imperialism was economy. The british hungered for more land and more money‚ they even attacked natives for resources. The covered their main reasons with lies. Religion‚ that doesn’t mean anything to them they spread and conquered like a plague. They killed‚ stole‚ and conquered. All that they cared about was money and power. The british attacked the people of India‚ Africa‚ and China‚ the british
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Nevertheless‚ the South wanted to revert to their traditional ways pre-civil war‚ and was a massive component in the failing of Reconstruction‚ however Northern disconcern is also at fault for the ruins of reconstruction. The South was a significant reason for the downfall of the reconstruction mostly due to the horrors inflicted by the Ku Klux Klan. The KKK generated havoc in the South in a variety of ways one which was by targeting black officials‚ and by also attacking people of power in Southern
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president to ever die. One of President Kennedy’s biggest achievements was a historic embrace of the civil rights movement is what I really liked. The reason why I think John F Kennedy and Johnny have Kennedy’s assassination is interesting and important to me is because‚ it was such a fatality and brutal way of being assassinated. Also‚ The reason why I chose JFK is because he cares about people during his time as a congressman and later as the US president JFK donated all the salary to charity.
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in the Western Hemisphere. The document was written and supported by the secretary-of-state John Quincy Adams. He was soon to be the next president of the United States of America after Monroe’s term. The doctrine was distributed in 1823. The main reason the Monroe Doctrine was written was for the territory of the western hemisphere not to be taken by the European countries. The doctrine was
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Since ancient times‚ philosophers have considered the dilemma of balancing reason and passion. Myths like the fall of Icarus tell of the calamities that occur when one takes precedence over the other— in this example‚ when passion supersedes reason. In his play Othello‚ Shakespeare illustrates this same predicament in an altogether different fashion. Three characters—Roderigo‚ Othello‚ and Iago—let passion override reason‚ with disastrous results. Roderigo’s infatuation with Desdemona prevails over
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“Faith and reason often clash when considering belief in what is right and‚ consequently‚ how to proceed with one’s life.” This statement represents a false choice because properly understood faith is never without reason. Faith is based upon background experience and knowledge or “properly basic belief”. Properly basic beliefs are rational beliefs that do not depend on other things to justify them. To say that there is a split between faith and reason‚ represented through the idea of a tragic hero
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Afrocentricity‚ Race‚ and Reason: A Response to the Literature Chizi Igwe Introduction to Africana Studies 101‚ Section 2 Dr. Kalubi May 8‚ 2010 Afrocentricity‚ Race‚ and Reason: A Response to the Literature Background Information The philosophy of Afrocentricity is not a recent development. Its history can be traced to many precursor theories and ideologies. There were many intellectuals who have researched and theorized about Afrocentricity during its development. These intellectuals
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