Written by: Edmund Quek CHAPTER 6 THE THEORY OF COST LECTURE OUTLINE 1 2 2.1 2.2 2.3 2.4 2.5 2.6 3 3.1 3.2 3.3 INTRODUCTION SHORT-RUN THEORY OF COST Distinction between fixed cost and variable cost Total cost Marginal cost Average cost Relationship between marginal cost and average cost Optimum capacity LONG-RUN THEORY OF COST Cost minimisation in the long run Long-run average cost Productive efficiency References John Sloman‚ Economics William A. McEachern‚ Economics Richard G. Lipsey and
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As people we all have unique ways of learning and ways we find easier and more engaging. To utilise this individuality it’s often necessary to construct presentations‚ from each of the four main types. The 4 main types of presentation are: 1. Informative - These are used to present information derived from research. 2. Demonstrative - “How To” guides‚ or any presentation that shows you how to do something. 3. Persuasive – A presentation dedicated to altering the opinion or behaviour
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final project is: Design a program that will allow a user to Input a list of your family members along with their age and state where they reside. Determine and print the average age of your family and print the names of anyone who live in Texas. 1. Problem definition: Design a program that will allow a user to Input a list of your family members along with their age and state
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Module 8 Writing Assignment 1). What is the proper care for heart attack victims? There are four steps in caring for a heart attack. The first step is to immediately call 9-1-1‚ if a heart attack is suspected or if the victim’s chest pain does not so away in a victim taking nitroglycerin. However‚ medications to dissolve a clot must be given early. Also‚ do not drive yourself or anyone else to the hospital. The second step is to monitor the victims breathing. If he/she becomes unresponsive and stops
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Experiment 1 - Decoders‚ Encoders Objectives: To design a 2-4 decoder To design a 4-2 encoder To use a 7442 IC for BCD to decimal conversion Required IC’s: 7408 AND Gate 7432 OR Gate 7400 NAND Gate 7404 INV Gate 7474 D Latch 7442 BCD to Decimal converter Theory: Decoders The basic function of a decoder is to detect the presence of a particular combination of bits at the inputs and indicate the presence of that particular set of bits by outputting a specified
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Romeo and Juliet by William Shapespeare is considered by many to be a tragedy. In fact‚ there are many elements that contribute to this tragic end. But‚ what are the most important elements which contribute to this tragedy ? One of the most important element is fate. Right from the Prologue‚ before the action of the play‚ one is exposded to the idea of fate. The Prologue explains the plot and ending of the story in that the two lovers will die because they are "star-cross’d"‚ and it is their
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Identifying themes in novels A theme is like a symbol in that it is an element that an author can use to add depth of meaning to a novel. 1. Themes are expressed and emphasized by the way the author makes us feel. By sharing feelings of the main character you also share the ideas that go through his mind. 2. Themes are presented in thoughts and conversations. Authors put words in their character’s mouths only for good reasons. One of these is to develop a story’s themes. The things
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1) Raw data‚ not seasonalized 2) Seasonal Adjustment used: Census II X-12 multiplicative (MASA): Used because of the presence of seasonal variations that are increasing with the level of my series. Increasing degree of variability overtime… TX non seasonalized and seasonalized 3) Combined seasonally adjusted with non-seasonally adjusted De-seasonalizing the data helped with the removal of seasonal component that creates higher volatility in model. Now‚ variations
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Understand how to safeguard the wellbeing of children and young people. Unit 025 1.1 Outline current legislation‚ guidelines‚ policies and procedures within own UK home nation affecting the safeguarding of children and young people. Listed below are the current legislations and guideline’s which have been discussed during safeguarding training and has been
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Unit 301 – Manage own performance in a business environment Outcome 1 1.1. Planning your workload can help time management and can help give you a clearer understanding of what you need to do to complete tasks. Sensible planning shows you what work needs to be done in the day‚ and allows you to manage your time effectively to meet objectives and deadlines. You can also make sure that you have access to any resources you require and if any people working with you are available. All this makes working
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