Marginal Utility Suppose Mr. X is hungry and eats oranges one by one. The first orange gives him great pleasure. By the time he starts taking the second‚ the intensity of his desire diminishes to a certain extent‚ and second orange yields less satisfaction. The satisfaction derived from the third will be less than that of the second‚ that of the fourth less than that of the third and so on. In this way‚ the incremental utility will go on decreasing till it drops to zero‚ and if he takes more‚ the
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2009 TOPIC 7: ABSORPTION AND MARGINAL COSTING Outline: 1. Learning Objectives 2. Differences between absorption and variable costing 3. Impact on profit under each costing technique 1. Learning objectives a. Explaining the differences between absorption costing and marginal costing b. Explaining the impact on stock valuation & profit under each costing system c. Explaining the impact on under each costing system d. Preparing multi-period absorption and marginal costing profit statements 2. Explaining
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Homeland Security: Necessary prevention or invasion of freedoms? “Our nation owes a debt of gratitude to the 9/11 Commission members for their valuable service and important recommendations to improve homeland security.”-Jim Ramstad The United States has for a long time developed many agencies with many different purposes. Some agencies moderate currency while other handle law enforcement. These agencies have always run as single entities within the governmental framework. On September 11‚ 2001 our
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Healthcare Organization SWOT Analysis Tina Sampers November 21‚ 2014 CSU Global Campus HCM 560 Dr. David Milen I currently work for a local home care company‚ Angels Care Home Health. Currently‚ I am working on a project in which we are creating a new department that is responsible for the development and implementation of the electronic health record (EHR). Due to the size of the organization and the number of clients‚ the development of the EHR is a daunting and time consuming task. For these
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MARGINAL COSTING Introduction Even a school-going student knows that profit is a balancing figure of sales over costs‚ i.e. Sales - Cost = Profit. This knowledge is not sufficient for management for discharging the functions of planning and control‚ etc. The cost is further divided according to its behavior‚ i.e.‚ fixed cost and variable cost. The age-old equation can be written as: Sales - Cost = Profit or Sales - (Fixed cost + Variable Cost) = Profit. The relevance of segregating costs
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Marginal Costing Introduction The Cost of a product of comprises of materials‚ labour‚ and over heads. On the basis of variability they can be broadly classified as fixed and variable costs. Fixed costs are those costs which remain constant at all levels of production within a given period of time. In other words‚ a cost that does not change in total but become. Progressively smaller per unit when the volume of production increases is known as fixed cost. it is also called period cost eg. Rent
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Marginal Concept Some land might be very good for producing certain crops - rich in nutrients and easy to access and work. This land is likely to be used first for any cultivation because the relationship between the cost of producing the crop and the return gained from selling it will be highest. However‚ land that is not so good will be taken into cultivation if certain conditions allow. These conditions could be a rise in the price of the crop concerned or a means of either reducing the cost
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not possible to have whatever we want. To get the better value from limited resources it is essential to evaluate the difference between the total cost and the total benefits of any activity. To choose the better option one of the tools provided by the managerial economics is marginal analysis. By weighing the marginal benefits against the marginal costs one can take the best decision. Marginal Costs- Marginal cost is the change in total cost when one more unit is produced. Marginal cost occurs when
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Slavery as a Necessary Evil It is inevitable that with the mention of slavery emotions will be aroused within whoever is present. Today most people look at slavery as one of the biggest mistakes our country has ever made. However‚ some will say they can see positives within the topic. It is the obvious nature and cycle of life that everything is not perfect and mistakes must be made to learn valuable lessons. Appalled by any notion of slavery as being necessary‚ most people do not see the evidence
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demographics‚ why is it necessary to have immigration into our country? What consequences would there be for your generation if our government gets this wrong?” Immigration is key for Canada. We have become an popular option from immigrants from all around the world. We are capable of giving them great opportunities‚ and a better life. In 2011‚ foreign born immigrants represented approximately 20.6% of Canada’s total population. Without immigrants; Canada will lose its potential. Why immigration is
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