ECONOMIES OF SCALE Economies of scale are the cost advantages that a business can achieve by expanding the scale of production. That is‚ when long-run average costs (LRAC) fall. Overhead costs (fixed) are spread over more units produced. Overhead costs (fixed costs) are spread more when more units are produced. These lower costs are an improvement in productive efficiency and can benefit consumers in the form of lower prices. Units produced Total cost Average cost
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Geologic Time Scale Introduction Understanding geologic time is critical to relating events in Earth’s history to those of today. Scientists use several forms of the geologic time scale to classify the age of objects and to become familiar with other events occurring simultaneously. In this lesson you will: · Examine how the geologic time scale summarizes Earth’s history · Analyze physical and biological changes that have occurred over time · Identify major events that occurred in geologic
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Small Scale Industries Introduction The Ministry of Small Scale Industries (SSI) is a defunct Indian government ministry. It was merged with the Ministry of Agro and Rural Industries to form the Ministry of Micro‚ Small and Medium Enterprises. The ministry was tasked with the promotion of micro and small enterprises (MSEs). The Ministry of Small Scale Industries and Agro and Rural Industries (SSI&ARI) was created in October 1999. In September 2001‚ the ministry was split into
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AND SCOPE OF SCALE 2 r r r r r r r r r r r r r r r r r r r r r r r r r rr ew concepts in microeconomics‚ if any‚ are more fundamental to business strategy than economies of scale and the closely related economies of scope. Economies of scale allow some firms to achieve a cost advantage over their rivals. Economies of scale are a key determinant of market structure and entry. Even the internal organization of a firm can be affected by the importance of realizing scale economies. We mostly
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meaningful order. You can count but not order or measure nominal data. Only calculations based on the frequencies of occurrence are valid. Nominal scales have no numeric properties. Qualitative information is obtained from a nominal scale. This means objects are classified by name only. Counting is the only operation that can be performed on a nominal scale. Examples of nominal questions that may be used are: state of residence; gender; or hair color: blonde‚ brown‚ red‚ black. Ordinal Ordinal
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Benchmarking Credit ratings September 2013 Project team: Tom Hird Annabel Wilton CEG Asia Pacific 234 George St Sydney NSW 2000 Australia T +61 2 9881 5750 www.ceg-ap.com Table of Contents Executive summary........................................................................................ 1 1 Introduction ............................................................................................ 6 2 SNL Financial dataset ......................................
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Faith Scales. Create in me a clean heart O Lord. (Psalm51) Intro. Create in me a clean heart O God. Let’s have a look at some definitions of clean. (Free dictionary.com) Clean is Free from dirt‚ stain or impurities; unsoiled. But To be clean is to be Free from foreign matter or pollution its Unadulterated: Has anyone ever watched how clean is your house? Yeah a tad mingling and always makes me want to jump up and clean‚ not that my house looks like that for a second‚ but Why do
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Economies and Diseconomies of Scale A case for McDonalds & Movie Theaters By Michele Tarrence Econ 202 Economies of scale are defined as ‘forces that reduce a firm’s average cost as scale of operation increases in the long run. The opposite of this would be diseconomies of scale‚ meaning ‘forces that may eventually increase a firms average cost as the scale of operation increases in the long run. Most every company has both the economies and diseconomies of scale that can be analyzed. In
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Task 1 Now being marketing executive and with reference of the above case of McDonald’s‚ discuss the concept of marketing for a service industry (such as Restaurant or Hotel) with relevant examples and also mention its characteristics. (1.1) M1 1.1 Marketing Marketing is the process to find out the needs‚ wants and the customers’ demands so that the customers will be satisfied after using that product. The process of discovering and translating consumer needs and wants into product and service specification
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likes. In this episode‚ it shows the obsessiveness people have with their phone‚ but it is taken to a new extreme. The main character‚ Lacy‚ often uses a fake smile to portray her happiness which she uses to get her likes. In her world‚ there is a rating system which acts as an almost currency and controls basically all aspects of life. This leads to Lacys downfall because she was
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