Cultural Relativity- Studying another culture from its point of view without imposing our own cultural values. Moral Relativity- Not everything a society does is universally acceptable. As as anthropologists they have the responsibility to try their best as they can to speak up to these cultures and try to change them. ANTH100 Forum 1 week 1 option 2- complete 3/6/13 The difference between cultural relativity and moral relativity is that cultural relativity is where they study cultures
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Questions 2. Assume a monopolist faces a market demand curve P = 100 – 2Q‚ and has the short-run total cost function C = 640 + 20Q. What is the profit-maximizing level of output? What are profits? Graph the marginal revenue‚ marginal cost‚ and demand curves‚ and show the area that represents deadweight loss on the graph. 3. In question 2‚ what would price and output be if the firm priced at socially efficient (competitive) levels? What is the magnitude of the deadweight loss caused by monopoly
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PS 102 Final Exam Draft Copy Please note: in addition to many of the following multiple choice questions‚ there will be additional questions with regard to the assigned article on executive agreements and the assigned article on education policy‚ as well as more questions pertaining to the unit on public policy. Also‚ at the end of the study guide are the two essay questions that will be on the exam. Please note: the essay questions are multiple part questions and should be answered completely
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Chapter 4: Consumer surplus: the difference between market price and what consumers (as individuals or the market) would be willing to pay. It is equal to the area above market price and below the demand curve · the difference between the maximum amount the buyer was willing to pay and the actual price paid Producer surplus: the difference between market price and the price at which firms are willing to supply the product. It is equal to the area below market price and above the supply curve
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Ch. 26 1) List and explain the characteristics of the market structure known as monopolistic competition. 2) List some examples of monopolistically competitive firms. 3) Explain‚ graphically and verbally‚ how a firm in monopolistic competition derives its demand curve and marginal revenue (MR) curve. 4) Explain‚ graphically and verbally‚ how a firm in monopolistic competition determines what quantity to produce and what price to charge in order to maximize its profits. 5) Explain the impact
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Economics is rich in theory. For economists‚ theory provides a framework for understanding and analysing economic phenomena. There are several types of theory to provide some insight into the trading activity subject to a nation and industry. For instant Revealed Comparative Advantage‚ it is a theory or some call an index for indicating how that activity compares to the activity of one or more similar entities. More importantly the initial meaning of this approach is to gain some good understanding
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University of Southern California Econ 513 Spring 2012–2013 Prof. Sakata Final Examination Date: Tuesday‚ April 14‚ 2013 Instruction: (a) This is a two-hour‚ closed-book exam. Put away everything but pens‚ pencils‚ erasers‚ and a numeric calculator. (b) Write your name and student ID on the front pages of the exam and its appendix‚ and continue to read this instruction. Do NOT look at other pages‚ however‚ until you are told to start to write the exam. (c) Solve all problems. (d) Fully
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Bus 102 exam 2 study guide 1. A. I chose Sarbanes Oxley Act (SOX) to be my policy. The goal of SOX was to fix auditing of U.S. public companies‚ consistent with its full‚ official name: the Public Company Accounting Reform and Investor Protection Act of 2002. By consensus‚ auditing had been working poorly‚ and increasingly so. The most important‚ and most promising‚ part of SarbanesOxley was the creation of a unique‚ quasi-public institution to oversee and regulate auditing‚ the Public Company
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Megan Stansmore and Ivan Rodriguez Required Assignment #2 Economics 102 Professor Makpayo 4/24/12 1a. The maximum amount of money that the initial deposit can be expanded to is $50‚000. With the use of the money multiplier‚ we were able to use the formula by taking the reciprocal of the reserved ratio and multiplying it by the initial deposit. MM = MM = = 10 5000 10 = $50‚000 2a. When the Federal Reserve decides to double the required reserve rate; the maximum amount
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Economics Exam #3 Review 1. Characteristics of competitive markets (3): There must be many buyers and sellers‚ none of whom can have a large market share‚ a few players cannot dominate the market. Firms must produce a standardized product‚ buyers must see all their products as equivalent. (Identical (Homogenous) Products). Firms and resources are typically fully mobile‚ allowing free exit and entry. These three conditions make all consumers and producers price-takers. Models: Section 12.2
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