Under the conditions of perfect competition‚ a market will be allocatively effi cient as long as the fi rms in that market produce at the P=MC level of output. Price is a signal from buyers to sellers‚ and the price seen by fi rms signals the marginal benefi t of consumers in the market. If the price consumers pay for a product is greater than the marginal cost to fi rms of producing it‚ then the message being sent to producers is that more output is demanded. In the pursuit of profi ts
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Stanislav Ivanov HOTEL REVENUE MANAGEMENT FROM THEORY TO PRACTICE Stanislav Ivanov HOTEL REVENUE MANAGEMENT FROM THEORY TO PRACTICE student 2014 Stanislav Ivanov (2014). Hotel Revenue Management: From Theory to Practice. Varna: Zangador. Page 1 of 204 First published 2014 by Zangador Ltd. Varna‚ Bulgaria; tel: +359 52 330 964; email: office@zangador.eu This work is licensed under the Creative Commons AttributionNonCommercial-NoDerivatives 4.0 International License. To view a copy of this
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1. SUBSTATION EQUIPMENT AND THEIR FUNCTIONS Substations INTRODUCTION: In Power System network‚ in order to transmit and distribute the generated power‚ it is necessary to install “SUBSTATIONS” at strategic points to work at required voltage level since “HIGH VOLTAGE TRANSMISSION” is resorted to. The Sub stations are classified as “GRID” of “RADIAL” Substations. The Grid station is installed in Grid network to reduce the voltage level from 230KV to 110 KV. The radial Station within Distribution net
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rate of cruise line industry is 8.2 percent due the cruise industry report (Mazzarella& Ji‚ 2007‚ p.20)‚ which indicates that cruise industry becomes one of the fastest growing sectors in the leisure travel market. Additionally‚ the cruise industry has grown as new markets that are developed and new ships are particularly designed for the specific cruise destination (Marc‚ 1989‚ p.38). Precondition The application of revenue management is not appropriated in all the industries. According to Kimes
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Voice recognition software Patrick Maxfield CIS/207 July 24‚ 2013 Luciano Brito Voice recognition software Voice recognition software has come a long ways in a short time. It was first used in home appliances such as washing machines so the consumer could operate the washing controls through vocal commands and then the invention of mobile phones with voice-activated dialing came along. Know day’s voice recognition is so widely used that I could not begin to identify them all. The technology
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Personal Protective Equipment is of major significance in workplaces all over the world. As the use of personal protective equipment is important‚ it’s only an extra form of protection‚ necessary where all hazards haven’t been controlled through other means. Personal protective equipment consists of a range of clothing and equipment‚ which is to shield worker’s bodies from workplace hazards. It is widely used to decrease the exposure of employees to hazards‚ and to avoid employees from illness or
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Communication plays a vital role in the healthcare setting‚ as the relationship with the healthcare professional sets the tone of the care experience and has a powerful impact on patient satisfaction. It is “the shared process in which messages are sent and received between two or more people which are made up of a sender‚ receiver‚ and message in a particular context” (cite‚ date). This essay highlights the importance of‚ and some common barriers to‚ effective communication in the healthcare setting
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Capital and Revenue Expenditures Edwin Bivens XACC- 291 06/08/2014 Capital and Revenue Expenditures: The Differences and Similarities. In order to be able to explain the differences between Capital Expenditure and Revenue Expenditure; I believe it is important to understand what each are: A capital expenditure is an amount spent to acquire or improve a long-term asset such as equipment or buildings. Usually the cost is recorded in an account classified as Property‚ Plant and
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be obtained for their industry. Marginal revenue‚ marginal cost‚ total cost and profit-maximizing are some of the concepts that are analyzed when making business production decisions. Marginal revenue is the total revenue that is changed when one more unit of output is produced. The total revenue is determined by multiplying the unit price by what quantity the company can sell. The total revenue increases when the first unit is purchased and equals the marginal revenue. When the second unit
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Effect of revenue increase to Ford Motor Company’s working capital policy. Ford Motor Company working capital is a measurement of efficiency and health in a short term. The working capital is Current Assets less the Current Liabilities‚ and 20% increase indicates Ford Motor Company should pay off short-term liabilities. Ford Motor Company shows a 20% increase in revenue that brings the revenue up from $128‚954 to $154‚745 million. With the increase Ford Motor Company should invest in labor
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