Long Run Equilibrium (A) Firm and Industry: A competitive market is made up of a large number of firms with complete freedom of entry. Such firms together are called competitive industry. An industry can be defined as a group of firms producing homogeneous products with freedom of entry and exit and which earn only normal profits. Hence the concept of an industry is applicable only under competitive conditions. There is no fixed size of an industry though the analytical stability of an industry
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TITLE Vapour Liquid Equilibrium OBJECTIVE To find the Vapour-Liquid Equilibrium (VLE) relationship for binary mixture and to plot the equilibrium curve. INTRODUCTION The term equilibrium is referred to as when a system is in a static condition and there is absolutely no changes that occur as time goes by. Vapour-liquid equilibrium is a condition where a liquid and its vapor are in equilibrium with each other‚ a condition or state where the rate of evaporation is equal to the rate of condensation
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Experiment 1: Study of Solubility Equilibrium Data Treatment and Analysis Section 1: Solubility Product Constant Temperature (˚C) | Volume of NaOH used (mL) | | | | Titration 1 | Titration 2 | Average | 28 | 12.7 | 12.8 | 12.75 | 9 | 10.5 | 10.5 | 10.5 | 19 | 11.3 | 11.2 | 11.25 | 40 | 16.2 | 16.2 | 16.2 | 50 | 22.8 | 22.9 | 22.85 | Table 1: The volume of NaOH used in the titration at various temperatures. No. of moles of KHC4H4O6 = 1.45 g ÷ 188.177g/mol = 7.71 x 10-3mol
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chemical equilibrium is already achieved. A reaction is said to be at equilibrium when the following conditions exist. 1. 2. 3. Several factors such as temperature‚ concentration and pressure affects the rate of reaction which can cause an effect in the chemical equilibrium. A general rule is used to predict the direction in which an equilibrium reaction will move which is called the Le Chatelier’s Principle. It states that if an external stress is applied to a system at equilibrium‚ the system
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For a manager is a business setting it is important for them to understand how market equilibrium is maintained. Simple economic principles such as supply and demand are crucial in the business world when it comes to everything‚ especially making very important day to day decisions. The Process The intersection of the supply curve and the demand curve is considered market equilibrium and the price point (investopedia‚ 2012). This is another way of saying that the economic forces are balanced
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Analytical and Equilibrium Molrity Analytical Molarity is the total number of a solute‚ regardless of its chemical state‚ in one liter of solution • describes how a solution is prepared(recipe) 98.0 g H2SO4 dissolved in water diluted to 1.0 L. 1.0 M H2SO4 Equilibrium Molarity or species molarity is the molar concentration of a particular specie in the solution. • requires a careful analysis on how solutes behave when it is dissolved in solvents 1.0 M H2SO4 (AM) 0.0 M H2SO4
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Strength • USP- Easy to cook & tasty • Variety • Masses product Weakness Perceived as made up of Maida not good for health and calories Opportunities • Availability of New segments (e.g. old age people) • Increasing level of income of consumers and fast life Threats ITC‚ the competitor provides higher margins to its distributors and growing fast. Top Raman has adopted the strategy of reducing the price of its
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actual labour utilization would be more than the above calculated figure. However‚ we believe that the above time signifies the actual time spent by labour in producing or working on new parts. 2) Profile operation (Fabrication) - Break even analysis: Let the optimal order size be N boards a) Using Punch Press: Total Operating Time = Setup time + Cycle Time*N = 50 + 1*N = 50 + N b) Using CNC router: Operating Time = Setup time + Cycle time*N = 150 + 0.5*N= 150 + 0.5N We would use
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LONG-RUN EQUILIBRIUM OF A FIRM UNDER PERFECT COMPETITION In the long run‚ a firm in the perfectly competitive market can earn only normal profit. So‚ the profit maximization under long run is: (1)Necessary condition P=LMR=LAR=LMC=LAC (2)Sufficient condition Slope of MC > Slope of MR We can establish this condition from the following analysis. In the above diagram for any market price OP1 the existing firms can earn supernormal profit as for the equilibrium output level OQ1. The average
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and cooled then mixed with an amount of ice that was also weighed. The temperature before and after mixing was recorded and included in tables. When the experiments were completed analysis was performed using the laws of thermodynamics. The data collected was used in equations to find theoretical values for final equilibrium temperature. The theoretical values were compared with those measured during the experiment. The total average percent difference between the measured final temperature and the
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