Distinguish between diminishing returns and economies of scale (15 marks) In Business Economics‚ the short run is defined as the concept that within a certain period of time‚ in the future‚ at least one input is fixed while others are variable and the long run is defined as a period of time in which all factors of production and costs are variable. The law of diminishing returns is a short run concept‚ which states that increasing successive units of a variable factor to a fixed factor
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Internal economies of scale arise when firms increase their scale of production. Hence‚ they incur lower average costs of production‚ either through specialization or other factors. When average costs fall‚ giving the price of the good to be constant‚ profit margins of these firms will be increased. Thus‚ the individual firm benefits from internal economies of scale. External economies of scale arise when all firms in an industry experience decreasing average costs of production‚ which can be
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measurements obtained with the Alberta Infant Motor Scale (AIMS) for evaluation of preterm high risk infants. The present study included two scales i.e. the Alberta infant motor scale and the Peabody developmental motor scale – 2 (PDMS – 2) on high risk infants at 3 months‚ 6 months and 12 months of age. For the purpose of comparing the AIMS scale‚ the PDMS -2 scale was used as the gold standard of measure. The sensitivity and specificity of the PDMS 2 scale is 36.1%‚ 93.8% at 3 months respectively. The
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Mindfulness‚ for this study‚ was measured utilizing The Mindful Attention Awareness Scale (MAAS)‚ where athletes rated how often they had experiences such as‚ “I find it difficult to stay focused on what’s happening in the present (Gooding & Gardner 2009).” The athletes free throw percentages were then tracked over the course of the following season. Results indicated that levels of mindfulness significantly predicted game free throw percentage. Therefore‚ the more mindful the athlete‚ the higher
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PLANNING SYSTEM FOR SMALL SCALE INDUSTRIES Dr. Ali Hasan Asstt. Professor‚ Department of Mechanical Engineering‚ Jamia Millia Islamia University‚ Delhi-110025‚ India. Corresponding Email: alihasan786@rediffmail.com Abstract This study has been carried out at Triveni Engineering Works Ltd‚ Naini‚ Allahabad‚ India. A MRP software for Small Scale Industries has been designed‚ developed and tested. The suggested methodology for developing MRP System is particularly helpful for small scale industries. Keywords:
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Measurement Scales If a researcher is going to use statistics properly‚ it is crucial to consider the kind of data about which descriptive statistics are to be calculated or to which will be applied some kind of statistical test. Statistical analysis‚ even simple analysis as counting‚ requires that each characteristic to be studied be assigned a unique value. Sometimes‚ especially in qualitative research with small samples‚ this value can be a word or symbol. For example‚ the interviewers could
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Financial Management of a Small Scale Tour Day to Day Schedule DAY Monday 1st Tuesday 2nd Wednesday 3rd th Thursday 4 Friday 6th Saturday 7th Sunday 8th Monday 9th Tuesday 10th Wednesday 11th Thursday 12th th Friday 13 Saturday 14th th Sunday 15 Monday 16th th Tuesday 17 Wednesday 18th Thursday 19th Friday 20th Saturday 21st Sunday 22nd VENUE Aberystwyth Arts Centre Aberystwyth Arts Centre *Rest & Travel* Swansea Grand Theatre Borough Theatre Borough Theatre
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The Interpretation of Human Disgust‚ in Relation to the Disgust Scale Abstract This report was based on prior work by Rozin et al‚ in relation to how it is that humans perceive disgust. The objectives were to conduct an individual measures design experiment in order to see how disgust intensity varied between the sub scales used by Rozin‚ Haidt‚ & McCauley’s Disgust Scale (2000). The Participants used were mainly University undergraduates. This was done with the use of a questionnaire
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Q4) what are the advantages and disadvantages to a firm of operating on a large scale? Economies of scale fall under microeconomics and are the cost advantages a business obtains due to expansion. As scale is increased they cause a producers average cost per unit to fall. Microeconomics (from Greek prefix micro- meaning "small" and "economics") is a branch of economics in which you study the behaviour of how the individual firms make decisions to allocate limited resources. Normally‚ it applies
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The Pros and Cons of the Wechsler Adult Intelligence Scale (WAIS-III) Introduction This paper discusses the pros and cons of the Wechsler Adult Intelligence Scale (WAIS-III). First‚ important definitional‚ theoretical issues‚ including the nature of intelligence‚ a brief history‚ and pros and cons are discussed. Next‚ the development‚ reliability‚ validity‚ and assets and limitations of the WAIS-III are examined
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