The relationship between marginal cost (MC) and marginal revenue (MR) is fairly easy to see‚ marginal cost is the extra cost from the production on one or more units of a particular item verses marginal revenue is the change in total revenue from the sale of one or more units of a particular item. There is a principal that explains the relationship between the two best called the MR=MC rule‚ which states “that a firm will maximize its profit (or minimize its losses) by producing the output at which
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Assessment task 1 In any health care system‚ quality and safety of patient’s care is very important. According to my understanding‚ quality and safety of nursing care should include patient centred care‚ good communication‚ and teamwork. Also‚ a quality nursing care should be provided with dignity and respect‚ accountability‚ and advocacy. The essential expertise of a health professional is to provide quality and safety to patient care which includes respect and dignity‚ advocacy‚ accountability
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A1. During the evaluation of Competition Bike’s budget schedule a few areas of concerns were identified within the budgeting and proformas. The first area of concern within budget was advertising. The advertising was budgeted for $28‚412; they may want to consider increasing their marketing to reach a wider audience to boost sales. In year 6 the advertising was $23‚820‚ then increased year 7 $32‚760‚ and year in 8 decreased to $27‚428. They need to increase their exposure within the bike market
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as it pertains to elastic‚ unit‚ and inelastic demand. Elasticity of demand is gauged by the percentage of change in demand when the price of an item varies. If the change in the quantity demanded is greater than 1 the demand is elastic. Elasticity of demand is calculated by ED=quantity demanded/decrease in price. If you reduce the price of milk by 6%‚ and that causes an increase of quantity demanded by 9% the demand for milk is elastic (ED= .09/.06 = 1.5). Unit elasticity is when the change
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Objective 309.1.2-09: Discuss the application of elastic and inelastic demand in a given marketing situation. Introduction: Supply and demand concepts have application in everyday life. They also directly impact the business person in daily decisions. Task: A. Define the following three terms: 1. Elasticity of demand 2. Cross-price elasticity (include substitutes and complements) 3. Income elasticity (include normal and inferior goods) B. Explain the elasticity coefficients for each of the three
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PK0-003_formatted Number: 000-000 Passing Score: 800 Time Limit: 120 min File Version: 1.0 Exam A QUESTION 1 There is a minor conflict between several members on a project team; the issue has no significant impact on the project. Which of the following would be the BEST conflict resolution technique for the project manager to employ? A. B. C. D. Avoiding Forcing Compromising Confronting Correct Answer: A QUESTION 2 A customer has requested an increase in the scope of a current project‚ but
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finished. Estimation can be defined as the process of scheduling tasks and the budgeting of resources for those tasks. The two most important components of these steps or stages are scheduling and budgeting. However‚ the difficult aspects of project management remain those centred on estimating task duration‚ including the execution and monitoring of tasks (Burns and Janamanchi‚ 2007). Project scheduling is using known project tasks (activities) and putting them into a timeline while project budgeting
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milestone. Task dependency How milestone identification affects assessment of task dependency Identifying milestones In identifying milestones‚ one has to visit the issue of scheduling which mainly will appear in the scoping/planning process of a PMLC. According to Kemp‚ “Scheduling‚ or planning project over time‚ is a big job in project management. The key is to break it down into small‚ clearly defined steps. In building our schedules‚ we use several methods: iteration‚ definition of tasks and
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given Company A’s marginal revenue decreases by $10 for each additional unit produced. When calculating the marginal cost the change in the total cost is divided by the change in the quantity. This formula can be shown as the following ∆TC/∆Q. In the given scenario for Company A‚ the marginal cost rose steadily with each increase in quantity production. For Company A‚ profit maximization is reached at the production of 7 or 8 units. This is the point in which the total revenue and the total cost are
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CELTA-Pre course Task Answers/Solution Muhammad Ali Asad Task 1: Q1 Teacher with non-English speaking background‚ full time course Q2 Multilingual‚ Mixed ability group‚ day classes Task 2 Q1 * I learn a lot from the adults * They bring in the class rich experience * They understand different analogies * They are motivated for their reason to learn new language * They are Self disciplined Q2 * I bring to them different ideas * Help them to list down their specific goals
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