What Is Law? Although “the law” may seem to be abstract and far removed from everyday life‚ it actually is a framework for much of what you do. Perhaps you get a traffic ticket or want a local store to replace a defective toaster you purchased. Perhaps you have been called for jury duty or must testify as a witness to an accident. Perhaps you want to stop a road widening project near your home‚ ponder the issues of prayer in school or abortion‚ or must see that the provisions of a will are carried
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Concept of Law – what do you think is the best descriptive concept of law‚ what do you think is the purpose or value of law? Have your views changed over this semester‚ if so how?" Most people’s concept of law is limited‚ their view on law is commonly based on a set of rules which they do not want to break because of either fear of a bad image in society as well as fear of being penalized and incarcerated legally. This point was emphasised by the legal philosopher John Austin whose theory on law suggested
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WHAT IS LAW? 20 MAY 2013 What is Law? Three simple letters. A word which very short. But still the whole world failed to find a universally accpetable definition for this word. Through out my life I have heard this short word several times. Around 8 years ago our nation welcomed a system of government called “Democracy.” With this “DEMOCRACY” everyone started talking about the freedom‚ freedom of expression‚ right to inform‚ human rights and many more. I was a little boy at that time who
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Productivity After two quarters of increasing levels of production‚ the CEO of Canadian Fabrication & Design was upset to learn that‚ during this time of expansion‚ productivity of the newly hired sheet metal workers declined with each new worker hired. Believing that the new workers were either lazy or inefficiently supervised (or possibly both)‚ the CEO instructed the shop foreman to "crack down" on the new workers to bring their productivity levels up. ◦ Explain carefully in terms of production
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possible to capture what law is? It is possible to capture what law is from a standpoint independent of its content by positing a descriptive account of its characteristic features. In response to the limitations of early empirical positivism propounding the command theory‚ the conventional positivists put forth the separability thesis‚ by which law can be described distinct from any morally laden propositions. However‚ the value of such a purely descriptive account of what law is remains fundamentally
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is P = 78 - 15Q‚ where Q = Q1 + Q2. The marginal costs associated with producing in the two plants are MC1 = 3Q1 and MC2 = 2Q2. How much output should be produced in plant 1 in order to maximize profits? A. 1 B. 2 C. 3 D. 4 2. You are the manager of a firm that produces output in two plants. The demand for your firm’s product is P = 78 - 15Q‚ where Q = Q1 + Q2. The marginal costs associated with producing in the two plants are MC1 = 3Q1 and MC2 = 2Q2. What price should be charged to maximize profits
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|14‚000 |26‚000 | |$90‚000 |12‚000 |30‚000 | What is the equilibrium wage? $60‚000 Now‚ consider this scenario: Due to an increase in the internet security threats‚ the government wants to apply a price control in this market to encourage more people to become internet security professionals. Assume
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Labour productivity = production/labour When productivity changes‚ it affects how productive an economy is. Labour‚ as an input in production‚ helps to determine total output. When productivity falls‚ labour‚ as an input‚ produces less goods and thus total production falls. The PPP (also known as the PPF) moves inward to represent the fewer production choices available. When productivity increases‚ the curve shifts outward to represents increased production and production choices. DEFINITION of
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a convex shape. The campaign manager should then spend the campaign’s budget on the combination of the two inputs will that maximize the number of votes. 5. For each of the following examples‚ draw a representative isoquant. What can you say about the marginal rate of technical substitution in each case? a. A firm can hire only full-time employees to produce its output‚ or it can hire some combination of full-time and part-time employees. For each full-time worker let go‚ the firm must hire
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unit of the product represented by these data since that amount maximizes marginal utility.” Do you agree? Explain why or why not. c. “It is possible that a rational consumer will not purchase any units of the product represented by these data.” Do you agree? Explain why or why not. Answer: Missing total utility data‚ top – bottom: 18; 33. The missing total utility for the second unity can be found by adding the marginal utility (change in utility) to the total utility for the first unit. By consuming
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