Short-Run Decision Making Short-run decision consists of choosing among alternatives with an immediate or limited end in view. Accepting a special order for less than the normal selling price to utilize idle capacity and to increase this year’s profits is an example. Thus‚ some decisions tend to be short run in nature and sometimes are referred to as tactical decisions; however‚ it should be emphasized that short-run decisions often have long-run consequences. Consider a second example. Suppose
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Summary of the Article‚ ”Why do firms exist”……….. Ronald Coase may not be as famous as other economists due to his non-recognisable status but at the turn of the century ‚ he was able to achieve a recognisable status by applying practical theories on pre- existing economic theories. Highlights Deregulation revolution of 1980s Re-surfacing the pin factory which was the foundation of division of labour criticism of earlier economics theories of Adam Smith and others. Bureacracy in modern
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profit maximizing theories of the firm have been criticised for being unrealistic. As a result‚ alternative theories of the firm were introduced (Sloman & Sutcliffe‚ 2001). One of the alternative theories of the firm is Growth maximization. Following are the main motives for the firms to grow: The cost motive: A growth maximising firm can lower its long run average costs by exploiting economies of scale and economies of scope. Economies of scale come into effect when increasing the scale of production
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many people struggle with fears associated with vulnerability. In the short story “ Raymond’s Run” by Toni Cade Bambara the protagonist Squeaky is very protective in the beginning of the story‚ but has a change at the end. Squeaky learns that being vulnerable to others helps you become a better more mature person. Squeaky learned that she should be more open to people and to not try and block them out. At the start of “Raymond’s Run” we all notice just how protective Squeaky is. Part of that is because
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Many cheerleaders seem to get offended or fired up when they hear the phrase “Is cheerleading even a sport?” I personally have been a cheerleader for fourteen years and the sport is like any other. Every team must come together to perform athletic skills such as jumps‚ dances and chants to gain a response from spectators at a competition or school event. Cheerleaders all over the world want to get the same respect like any other sport because it meets all qualifications to call it an official sport
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Published in Jurnal Ekonomi‚ Universitas Tarumanagara‚ Indonesia (Economic Journal‚ Tarumanagara University‚ June 2004) An Econometric Analysis of the Short Run Philips Curve: Is it still relevant in today’s context? Enrico Tanuwidjaja∗ National University of Singapore‚ Department of Economics E-mail: g0305812@nus.edu.sg May 2004 Abstract The Phillips curve is generally been estimated in a linear framework‚ which implies a constant relationship between inflation and unemployment. Lately‚ there
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Why firms go international? There are many reasons can promote firms go international‚ includes the domestic market saturation‚ end of PLC in domestic market‚ geographic diversification‚ to gain the economies of scale‚ stiff competition in domestic market and absence of competitors overseas etc. 1. Some firms go international in order to gain the economies of scale. As a research has pointed out that a doubling of output can reduce the production costs by up to 30 per cent. This is very obvious
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The theme of “Raymond’s Run” and “All-American Slurp” can both be related because the main characters are both being held back from what their desires are. The main character of “Raymond’s Run‚” Squeaky‚ is held back from obtaining her goal which is friendship. She struggles to get friends because of her arrogant proclivity‚ mostly from instances that occur with her older brother‚ Raymond. This is also the same for the Lin girl‚ from the story “All-American Slurp” because she finds difficulty adapting
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Life’s too Short to Even Care at All Did you know that depression affects 120 million people worldwide? How about that it also causes over 850‚000 deaths a year? A lot of people don’t see depression as a serious health issue‚ but it really is. The television show Glee often overlooks this issue along with most of society. But in one particular episode‚ one of the main character’s speaks out against it by singing the song “Cough Syrup” by Young The Giant. Blaine Anderson‚ played by actor Darren
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I really enjoyed reading A Loss for Words: the Story of Deafness in a Family. I found the book to be a pleasurable and extremely fast read. Lou Ann Walker definitely has an impacting touch on anyone who reads her story. This story highlights the challenges of being different. Her parents being deaf really caused a strain on her lifestyle. Also‚ the reactions of others affected her tremendously. Lou Ann really opens the eyes of those who do not understand deafness. How the deaf community functions
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