Production and Perfect Competition ECON220 The firm currently uses 50‚000 workers to produce 200‚000 units of output per day. The daily wage per worker is $80‚ and the price of the firm’s output is $25. The cost of other variable inputs is $400‚000 per day. Assume that total fixed cost equals $1‚000‚000. Calculate the values for the following four formulas: • Total Variable Cost = (Number of Workers * Worker’s Daily Wage) + Other Variable Costs • Average Variable Cost = Total Variable Cost
Premium Costs Variable cost Fixed cost
Utopia :often Utopia An ideally perfect place‚ especially in its social‚ political‚ and moral aspects‚ and an impractical‚ idealistic scheme for social and political reform. Each person has their own vision of utopia‚ the above sentance is Oxford’s Dictionary’s definition of it. Utopia means an ideal state‚ a paradise‚ a land of enchantment. It has been a central part of the history of ideas in Western Civilization. Philosophers and writers continue to imagine and conceive plans for an ideal state
Premium Ethics Morality Utilitarianism
In “Once Upon a Time‚ Literature. Now What?” published writer James Salter discusses the end of literature in today’s society. He says that’s literature is losing it value and art and language are no longer appreciated. The new pop culture is taking over and the new movies and music no longer have any real meaning to them‚ it’s just about success and making money. Value is something has been cast aside. There is no value in the word value anymore. The most important task in the world according to
Premium Literature Writing Fiction
A group of philosophers are tasked with the creation of a perfect city in which everything within the city is considered to be just and healthy. In the hypothetical city they’ve named Kallipolis‚ Socrates explains to his cohorts that he has divided the people inside the city into three distinct classes. At the top of the list‚ he places the guardians who have gold souls and who are considered the elites; below the guardians rest the auxiliaries who have silver souls; and below everyone else‚ lay
Premium Plato Democracy Political philosophy
Is Your Relationship Healthy? In a relationship‚ couples should be able to talk to each other without keeping secrets. They should also trust one another with anything they do‚ if they give you a reason not to‚ then the situation is a little bit different. There are three key components to having a happy and healthy relationship and those are communication‚ trust‚ and respect. Communication is the key to any healthy relationship along with a few other things. Text messaging is now
Free Communication Trust Relationship
The younger generation spends more time on TV or on social media websites‚ thus the youth is exposed to more commercials on a regular basis. The message shown in ads have made the younger generation more self-aware of their image of having the “perfect” body shape‚ and being up to date with the latest product to fit in amongst their peers. With people getting bombarded with ads from all directions‚
Premium Advertising Mass media Graphic design
Aubrey Lemna Hour: 2 Extemporaneous Outline Topic: How to go on the perfect vacation General Purpose: To inform Specific Purpose: At the end of my speech‚ my audience should be able to plan the perfect vacation. Introduction: I. (AGD): Imagine yourself‚ on a beautiful island in the middle of the turquoise blue ocean with your significant other‚ soaking up the glorious sun rays getting that vitamin D‚ and the only sound you can hear is the warm tropical breezes ruffle the
Premium Planning 2008 albums Thesis or dissertation
There are many different variations and ideals that constitute for the perfect preschool program for typical‚ ELL‚ and disabled or special need students. With the differences‚ some facets are important to create the ideal preschool program. These important aspects include creating an environment that allows security and safety for all students‚ interactive time with students that promotes building positive relationships‚ implementing activities that represent a variety of cultures‚ an assortment
Premium Education Teacher School
Philosophy The Best Overall Picture of Reality Questions in life may not have a definite final answer. This is exactly what the study of Philosophy poses. Thinkers have existed since the days of Socrates trying to answer the most difficult questions in life. Some of these questions do not follow a certain criteria for there to be one correct answer. These types of questions may be opinion based until the end of time. One of these questions is what is the best overall picture of reality? It is the
Premium Reality Universe Metaphysics
Perfect Competition of Wheat Crops and Variable Cost Basic theme Farmers gamble on deciding what crop to grow from year to year because variable costs can make it difficult for a farmer to break even and make profit. Critical Review Farmers who decided to grow wheat crops in winter are predicted to see profit this spring based on the estimated costs. Farmers have to almost blindly decide on which crop might be most profitable for them to grow because their total variable costs are always changing
Premium Supply and demand Microeconomics Costs