Law of Diminishing Returns The Law of Diminishing Returns says that when some inputs are fixed in capacity in the short run‚ increasing the variable input working with the fixed inputs would first lead to increasing additional output per additional unit of variable input‚ but eventually decreasing additional output per additional unit of variable input after the optimal capacity of the fixed input has been exceeded. Let’s look at a simple short-run production process where there is a fixed input
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Chapter 10 (Tentative Due Date: by November 1) Question 2: Discuss the major barriers to entry into an industry. Explain how each barrier can foster either monopoly or oligopoly. Which barriers‚ if any‚ do you feel give rise to monopoly that is socially justifiable? LO1 The major barriers to entry in an industry are economies of scale‚ legal barriers such as patents & licenses and other strategic or pricing barriers. Economies of scale occur only in large firms who are able to reach a minimum
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5.1.11 Appropriate Use of Consultants Sometimes‚ inadequate use of either internal or external consultants can cause failure of ERP system. In order to be sure that ERP system would be implemented successfully‚ organizations should use experts who are trained in ERP implementation methods and have the requisite experience in applying these methodologies (Anand & Maleki‚ 2008). Due to the complexity of ERP implementation project‚ the appropriate use of external consultants with application and installation
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woman’s choice has been diminishes ever since America became independent. In the hopes of keeping America a patriarchal society where white men are always in control‚ women have been constantly pushed down. Although the conservatives true fight is against abortions and contraceptives‚ they are constantly putting millions of low-income women’s reproductive rights at risk by cutting funds and trying to shut down a health organization who provides health services to all those who need
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Return to Normalcy Americans wanted to return to normalcy after WWI‚ known as the Great War. So they isolated themselves from the rest of the world. They did this by staying out of foreign affairs like they did before. The U.S. rejected the Treaty Versailles and the League of Nations (johndclare.net) They basically turned their backs on the rest of the world. President Harding even used "Back to normalcy" as his slogan. The United states politically‚ socially ‚culturally‚ and economically had many
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000 visits to hospital emergency as an injury result from the use of a medication (CDC‚ 2015). The CDC goes on to say that the number of adverse drug events is likely to increase due to the development of new medications‚ aging population‚ increase the use of medication‚ increase coverage for medication‚ and the discovery of new uses for medication (CDC‚ 2012). The FDA conducted a study from 1993 to 1998 on the most common medication errors which resulted that 41% of medication errors were due to
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| | [ Evaluate the extent to which teenagers make adequate or inadequate use of the web?] | The teenagers of today are a main vocal point of many topics regarding the internet. It has been brought to attention how teenagers make use of the internet‚ and it has become a main point of discussion. A large amount of research has been carried out since the internet has started to develop‚ and it has been conducted about teenagers and the way in which they use the web. Starting from the late nighties
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others view it as being unpatriotic. The Supreme Court views the issue of flag burning as a right given to Americans under the First Amendment. A bill was proposed to the legislature and while it made it through Congress‚ it did not pass with the required 2/3 vote in the Senate. However‚ many Americans believe that the flag does not just symbolize the government‚ but the nation as a whole. Amendments to ban flag burning would in fact give people the freedom to protect the flag and its meaning but
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Market Share In the last decade‚ market share of Airbus and Boeing have largely been overlapping. Last year‚ Airbus had 833 orders‚ significantly less than Boeing’s 1203. However‚ this year so far Airbus has fared considerably better‚ receiving 410 orders whereas Boeing so far has 203. Market Price and stock: The European Aeronautic Defence and Space Company (EADS.PA) is the dominant aerospace company in Europe today. Its largest subsidiary‚ Airbus S.A.S.‚ is an aircraft manufacturing company based
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The law of diminishing returns only applies in the Short Run‚ when only one factor of production is variable and can be increased. The other factors of production are fixed. Thus as the variable factor of production is increased the marginal product of that factor will rise at first‚ but will at some point begin to fall. Returns to scale can only occur when no factors of production are fixed. If the quantities of all of the factors of production are increased‚ then output will also increase. However
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