Explain how the law of diminishing returns and returns to scale affect a firm’s cost of production (20 Marks) The law of diminishing returns exist when increasing quantities of a variable input are combined with a fixed input‚ which eventually leads to the marginal product and the average product of that variable input will decline. Diminishing returns can affect a firms cost of production negatively in the short run. An example of this is that a business had 2 factors of production; Capital‚ which
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The Pros and Cons of the Wechsler Adult Intelligence Scale (WAIS-III) Introduction This paper discusses the pros and cons of the Wechsler Adult Intelligence Scale (WAIS-III). First‚ important definitional‚ theoretical issues‚ including the nature of intelligence‚ a brief history‚ and pros and cons are discussed. Next‚ the development‚ reliability‚ validity‚ and assets and limitations of the WAIS-III are examined
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Types of Measurement Scales Marc Waters MKT/441 June 9‚ 2014 Cyndie Shadow Types of Measurement Scales Introduction For this week’s assignment‚ students are to select four types of types of measurement increasing order of sophistication; they are Nominal‚ Ordinal‚ Interval‚ and Ratio. These are categories in which numbers are grouped. This paper will also demonstrate how they can be effective in surveys or questionnaires. Nominal The number we assign to some object‚ idea‚ or behavior is
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joining uniformed services in the future. Depending on the map‚ different conventional signs are used. The bigger the scale is‚ the smaller the conventional signs are. The Ordnance Survey produces a range of maps that are particularly important to the uniformed services in one way or another. Those types of maps include: Route in a scale of 1: 625‚ 000 which is one of the smallest scales even though the numbers seem so big. This specific map is suitable for long distances as well as motorway driving
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TABACO NATIONAL HIGH SCHOOL TABACO CITY BATTERY-OPERATED FISH SCALING DEVICE PROPONENTS: NIÑO REY B. BORNILLA GIL C. BRUTAS JR. ERIKA C. MAE LU NESIE B. VOLANTE CHAPTER I INTRODUCTION This chapter includes the background of the study‚ statement of the problem‚ significance of the study and the scope and limitations. Background of the Study Innovation of technology is very advance nowadays. For that reason‚ man is now determined to generate more beneficial projects
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this type of appraisal format‚ the appraisers compare the employees to a certain set of standards‚ which may come in the form of checklists‚ rating scales‚ etc‚ rather than to other employees within the organization. The Absolute Standard Appraisal method has 4 techniques: Checklists‚ Essays‚ Critical Incidents‚ and Behaviorally Anchored Rating Scales. Checklist is the most common technique used by companies. It is a rating containing statements describing both effective and ineffective job
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Development of the Instrument The quantitative measurement of the four dimensions of benevolence- of ethical sensitivity‚ spirituality‚ positive engagement‚ community requires separate measuring scales of each. A four point scale was used in developing this instrument. Collection of Item& Item Selection Interviews were conducted with 10 managers of Knoah Solutions and Bharathi Cements . and after reviewing books and literatures. Items were collected and theoretically 50 items were derived in total
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Economy of scale refers to the benefits of producing on a large scale. When firms and industries increase the scale of their operation there can be advantages which reduce the average (unit) cost of their output. Internal economy of scale is the benefit‚ in the form of lower average costs‚ which a firm can gain from increasing its size. Internal economies of scale arise from the growth of the firm itself. One internal economy of scale can be marketing economies. For food retail industry‚ large
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ECONOMIES OF SCALE Economies of scale are an important aspect of efficiency in production .Economies of can henceforth be define as ‘the reduction in average costs of production‚ that occur as a firm increases in size’. As businesses grow and their outputs increases‚they commonly benefit from a reduction in average costs of production.Total costs will increase with the increase in output‚but the cost of producing each unit falls as output increases .The reduction
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demonstrates how the composer explores important issues Robert Caswell’s Australian screenplay Scales of Justice ‘The Job’ explores many issues‚ including corruption within the workplace‚ racism and the avoidance of crime throughout the text. He deals with these themes and issues through the eyes of a naïve new Probationary Constable‚ Len Webber‚ as he battles with his conscience against right and wrong. In scales of Justice ‘The Job’‚ Constable Len Webber is new to the police Force. Sergeant O’Rourke
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