Resource Allocation under Monopoly The existence of monopoly will lead to a misallocation of resources from the perspective of the economy as a whole. Assume a monopolist with a horizontal MC = AC curve. The monopolist’s P and Q would be at A‚ while the perfectly competitive P and Q would be at B. The monopoly restricts Q from QC back to Q* with a price of P*. Thus‚ this good is under-produced‚ compared to the perfectly competitive market‚ while other goods are over-produced due to resources (inputs)
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Depending on the position‚ authority varies and decision making power can be more or less. In other hand‚ informal power is something a person earned himself. Informal power has unique characteristics depending on the education‚ experience‚ and expertise in certain field. These qualities are viewed with respect‚ however there are several factors to gain personal power. There are many sources of power that someone can achieve using different resources. Reward Coercive Legitimate Referent Expert Information
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when tackling Resource management. Therefore‚ their effects‚ and how Resource Management with reference to Water and Fishery Resources‚ is filled with conflicts and uncertainties‚ are the issues that carve the outline of this paper’s thesis - “Resource Management is fraught with conflict and uncertainty.” Undeniably‚ Resource management has been‚ and is one of the greatest challenges that is faced today by humanity‚ which continues to largely menace the human ecology. Water allocation‚ which signifies
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board of trustees and in accordance with the university bylaws (Merchant & Van der Stede 2007). Prior to the implementation of Revenue Centre Management System (RCMS) the decision-making power was centralised‚ meaning that one senior administrative officer played the main role in all allocation of resource decisions. In 1981 the transition to the decentralised model took place. A Task Force on Budget Incentives was appointed in 1981 with the charge to understand the changes that had been taking
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ways of resource allocation and making the most money for any company today. I used (in conjunction with another field supporter – My Dad) the survey method to ask 28 companies that were in Delaware‚ New Jersey‚ and Pennsylvania whether they were linear programming users. In addition‚ I wanted to examine the effect of the use of linear programming across three different but key decision support areas of the participating companies to include (1) Planning (2) Forecasting and (3) Resource Allocation
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identifies activities in an organization and assigns the cost of each activity with resources to all products and services according to the actual consumption by each. This model assigns more indirect costs (overhead) into direct costs compared to conventional costing. Aims of model With ABC‚ a company can soundly estimate the cost elements of entire products ACTIVITIES and services. That may help inform a company’s decision to either: Identify and eliminate those products and services that are unprofitable
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THE PROCESS OF STRATEGY DEVELOPMENT AND IMPLEMENTATION Clayton M. Christensen and Tara Donovan The Processes of Strategy Development and Implementation The Processes of Strategy Development and Implementation When described with the historical perspective of logically written business school case studies‚ companies’ strategies often seem to be the product of an organized and rigorous planning process. The way that most companies’ strategies actually come to be defined‚ however‚ is often
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purpose of accounting is to provide relevant information to users such as creditors‚ government‚ investors‚ and decision makers to make economic decisions. These decisions concern the allocation and use of scarce economic resources such as‚ land‚ money‚ and labour. Resource allocation decisions can determine prices and wages. By the way we allocate our resources and how we use economic resources shape our world’s economy in different ways. Financial accounting‚ management accounting‚ and tax accounting
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information for economic decisions B. To motivate managers and other employees C. To measure income and assets for reporting to external parties D. To foster cost awareness among managers to improve decisions 2. Which of the following is considered more of an objective than a criterion? A. Cause-and-effect B. Benefits received C. Fairness or equity D. Ability to bear 3. Homogeneity is used to A. develop cost pools in which the costs have the same or similar cost-allocation base. B. develop cost pools
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to financial resources of the enterprise or organization. The scope of financial management can cut across a wide range of the organizations departments and can involve investment decisions including investment in fixed assets. Investment in current assets is also a part of investment decisions called working capital decisions. Financial management also involves making financial decisions. These relate to the raising of finance from various resources which will depend upon decision on type of source
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