(Baumol‚ 1962; Marris‚ 1964; Williamson‚ 1963)‚ profit maximization does not always serve as the only correct objective for a firm‚ especially at various phrases of the business on a timeline scale. A point-in-hand is Baumol model. As an alternative to profit maximization model‚ Baumol model works on the correlation between price and output decision with the objective of maximizing sales revenue‚ subjected to minimum profit constraint by shareholders. In profit maximization model‚ profit is maximized
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n this study‚ latent growth modeling was used to look at mother’s and infants from 156 families to measure how the temperament in their infant was from 4 to 18 months of age‚ maternal stress‚ depression‚ negative parenting and family demographics. The study was to see what effects any or all have on temperament development. The main temperamental characteristics looked at in the infants‚ was their negative emotions (behavior) and regulatory capacity (response) because these are the main traits of
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Critically Examine Hobbes’s Conception of the State of Nature The concept of state of nature was developed by Hobbes in his famous work‚ Leviathan‚ in which he also set out his doctrine of the foundation of states and legitimate governments which was based on his social contract theories. Leviathan was written during the English Civil War‚ so much of his theory concentrates on the need for the presence of a strong central authority within society in order to avoid the evils of rebellion and civil
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Critically examine the claim that free will and determinism are incompatible One of the main questions that we face is whether or not‚ we as humans have genuine freedom. Are we free to make our own choices? Do we decide what happens in our lives in the future? Or are our lives set pathways in which we have no say at all? Are all our choices already decided? In other words‚ do we have free will or are our actions pre-determined‚ or both? Hard determinists‚ libertarians and soft determinists all set
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Critically examine the extent to which the Rule of Law (ROL) has been implemented in Zimbabwe in an attempt to resolve conflicts and peace making in the Government of National Unity (GNU) The term Rule of Law (ROL) has been defined differently by different scholars hence the varying interpretations and interpretations and implementation by different governments. It is against this background that this monograph would like to examine the extent to which the ROL has been implemented in Zimbabwe from
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Managerial Theories of Firm Marris and Williamson’s Models Marris’ Managerial Thesis of Firm Marris has put forth a significant thesis of firm as per which the managers do not optimise profits but in its place as per him‚ they look for to optimise profits balanced rate of increase of the firm. Optimisation of balanced rate of increase of the firm entails optimisation of the rate of increase of demand for the commodities of the firm and rate of increase of capital supply. If I symbolises
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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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The widely accepted definition of a sect is a religious group with characteristics‚ which distinguishes it from either a Church or a denomination. Many groups which fit this definition now prefer the less contentious title of "new religious movements"‚ because over the last fifty years‚ sects have become linked with brainwashing‚ mass suicide‚ and even a murder. One of the examples is the suicide of 900 members of the People’s temple. Sects are not a new phenomenon and they have always attracted
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CRITICALLY EXAMINE WHY THERE ARE MORE SMALL WARS IN AFRICA African history has gone through three major phenomena that are the slave trade‚ colonization and decolonization. Each has its positive and negative impacts on the people‚ the shape of the continent and her economic resources. Slave trade robbed Africa of its best brains as those sold were mainly targeted after challenging the chief an action that by then was a preserve for those with the morale courage to question decisions from the highest
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Critically examine the concept of ‘community’ in relation to virtual community. It is difficult to examine the concept of ‘community’ as the term ‘community’ is used in a very wide sense to refer to many different figurations of people (Bell & Newby‚ 1974)‚ thus generating a large number of separate definitions (Stacey‚ 1969). In order to gain an understanding of what ‘community’ really means it is important to consider the history of its usage. The term originated in the fourteenth century and
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