Study Exercise One Part One SWOT Analysis of adopting a new form of governance for Colorado Springs Utilities: Strengths (internal): • Politically insulates elected officials from unpopular‚ but necessary utility decisions • Reduces risk and legal liability to elected officials • Allows for greater subject matter expertise and focused attention on public utility issues by members of new utility board • Frees council members to focus their attention on other constituency issues • Allows for improved
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Utility Maximizing Rule The consumer’s money income should be allocated so that the last dollar spent on each product yields the same amount of extra (marginal) utility. How should the $10 income be allocated? UTILITY MAXIMIZING COMBINATION Algebraic Restatement of the Utility Maximization Rule MUx/Px = MUy/Py = MUz/Pz 8 utils$1=16 utils$2 MARGINAL UTILITY-PRICE RATIO: The ratio of the marginal utility obtained from consuming a good to the price of the good. This ratio is particularly
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Utility 1 Utility and Purposeful Behavior William Scanlon EC0100 Prof. Nicole Rodieck
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Virtue Ethics – what it is (AO1 material) • Traced back to the philosopher Aristotle‚ who rejected Plato’s metaphysical account of goodness as a ‘thing in itself’. Aristotle thought that goodness is natural and psychological: just a part of being human. • Virtue Ethics makes ethical behaviour into the aim (telos) of life. • Aristotle puts forward ‘aretaic ethics’ (from the Greek arête – ‘excellence’)‚ stating that developing an excellent character is all-important‚ rather than following a set
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UTILITY NUMERICALS 1. A consumer divides Rs.90 to be divided between two commodities X and Y‚ and suppose the unit price of Y is fixed at Re. 0.20. What will be his demand equation for X. If his utility function is U = log Qx + 2 log Qy. 2. A consumer has a monthly budget of Rs.4000. He spends all his income on two goods A & B. Price of A and B are Rs2 and Rs.4 respectively. His utility function is U = 3 log A+ 9log B. Find the optimum combination of A & B for the consumer
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Response to Mill’s “Principle of Utility” John Stuart Mill writes that the Principle of Utility is the placement of happiness‚ of the individual‚ but mostly of society as a whole‚ ought to be the ultimate end in intentions and actions. These considerations weigh the consequences of what the outcome could be‚ to produce the most beneficial outcome for everyone. The most beneficial outcome according to Utilitarianism is the one which maximizes everyone’s happiness overall by weighing the sum of the
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ARISTOTLE ’S VIRTUES AND MANAGEMENT THOUGHT: AN EMPIRICAL EXPLORATION OF AN INTEGRATIVE PEDAGOGY Bruno Dyck and Rob Kleysen Abstract: This paper develops and explores a pedagogical innovation for integrating virtue theory into business students ’ basic understanding of general management. Eighty-seven students‚ in 20 groups‚ classified three managers ’ real-time videotaped activities according to an elaboration of Aristotle ’s cardinal virtues‚ Fayol ’s management functions‚ and Mintzberg
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CASE related facts Western Utilities a privately owned utility company currently faced with financial inefficiencies resulting from an expansion of its facilities. President Robert Delgado has personally asked them to raise the standard of employee performance as well as setting goals that are not easily attainable. MBO is being implemented by John Givens and Hilda Hirsh to identify key standards with which to control performance. 3 year ago‚ MBO is implemented for the purpose of evaluating
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Answers to Exercises Microeconomic Analysis Third Edition Hal R. Varian University of California at Berkeley W. W. Norton & Company • New York • London Copyright c 1992‚ 1984‚ 1978 by W. W. Norton & Company‚ Inc. All rights reserved Printed in the United States of America THIRD EDITION 0-393-96282-2 W. W. Norton & Company‚ Inc.‚ 500 Fifth Avenue‚ New York‚ N.Y. 10110 W. W. Norton Ltd.‚ 10 Coptic Street‚ London WC1A 1PU 234567890 ANSWERS Chapter 1. Technology 1
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behaviors are virtue ethical as Aristotle states (Nash‚ 1999). This type of ethical theory will allow individuals to show more personality and reveal more of the person’s qualities. Aristotle’s ethics emphasizes the value of reason and virtue for good moral character‚ as I have to agree with him. Virtue Ethics After reading Aristotle’s work on ethics and thinking about it for a few days‚ I realized that everything action we take and word we say falls under Virtue Ethics. Virtue Ethics for me
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