Managerial Economic and Quantitative Analysis Essay

Managerial Economic and Quantitative Analysis - Essay Example Thomas & Maurice, 2007). So in order to obtain the profit equation, total cost equation is subtracted from the total revenue equation (that is, profit = total revenue – total cost). However, from the equations given, there is no total cost and total revenue function. In order to obtain a total revenue function of the two firms, the demand function of each firm is integrated, and in order to obtain the total cost of each firm, the average cost function of each firm is integrated. After obtaining the total revenue and total cost functions, it is now possible to obtain the profit function. Economists argue that profits are maximized where total cost balances total revenue. So in order to obtain optimal price and output of each firm working individually, the total cost function is equated to the total revenue function (R. Thomas, C. Thomas & Maurice, 2007). This helps in obtaining the optimal output and price. Optimal price and output may also be obtained through differentiating t he profit function of each firm and equating it to zero, and then solving for the values of price and output. Consider the second case, where the two companies work together. ... Thomas, C. Thomas & Maurice, 2007). Part Two Estimation of the price per plane The estimated price per plane is as follows. price per plane (million $) probability Estimated price per plane (million $) 125 0.25 500 175 0.25 700 225 0.5 450 Optimal output and price when the firms act individually Airbus optimal price and output Airbus demand function is P = 500 – 0.0003Q. From this demand function, the total revenue function derived by integrating the demand function is TR = 500Q – 0.0003Q2. Airbus has the following Average cost function; AVC = 104.8822Q – 0.001Q2 + 0.09 Q3. By integrating this average cost function, a total cost function is obtained; TC = 104.8822Q2 – 0.001Q3 + 0.09Q4. In order to determine the optimum quantity and price the profit function is obtained first and then differentiated with respect to output. The profit function obtained is 500Q – 104.8825Q2 + 0.001Q3 – 0.09Q4. Differentiating this profit function and solving for the value of Q yields the value of Q as 500 M. Hence, substituting the value of Q in the original demand function, the value of P obtained is $ 499.85 M. thus; the optimal values of price and output are $ 499.85 Million and 500 million respectively. Boeing Optimal Output and Price The demand function of the firm is P = 700 – 0.00013Q. The total revenue function obtained through integration of the demand function is TR = 700Q – 0.00013Q2. The Average cost function of the firm is AVC = 25.8678Q – 0.00023Q2 + 0.4Q3. Integration of this function yields TR = 25.8678Q2 – 0.00023Q3 + 0.4Q4. From the total revenue and total cost functions, the following profit function is obtained, which is then differentiated and equated to zero in order to obtain the value of Q that is

Jesus and Mohammed Essay Example | Topics and Well Written Essays - 1500 words - 1

Jesus and Mohammed - Essay Example Understanding of Jesus’s life and teachings is based on the biblical texts, particularly the New Testament, called the ‘gospels’ and the life of Prophet Mohammed in the Muslims’ holy book of ‘Qu’ran’. A large amount of debate and discussion has been the prominent feature of literature related to the Prophet Mohammed’s life from the beginning. Mohammed was born in about 570th century at Mecca. Mohammed lost his father even before his birth and his mother at the age of six; then grew up under the care of uncle, Abu Taleb. At the age of thirteen, Mohammed had started traveling on business along with his uncle, trip to Syria being the first one. It is here that he met the Nestorian Monk, Felix or Sergius, who later assisted Mohammed in composing the Qu’ran. Mohammed was married to Khadija, and was blessed with four daughters and four sons. Muslims believe that God had inspired Mohammed with a love of solitude and retirement; and that every year, for a month at a time, he withdrew into the cave of Mount Hara, three miles from Mecca, where he devoted himself to fasting, prayer and, meditation (Crichton, A; 207). Jesus Christ, the son of God, was born about two thousand years ago in Bethlehem, the then Roman-occupied Palestine, to Mother Mary. The miraculous conception associated with Christ’s birth was a phenomenon out of the ordinary course of nature. Jesus was born in a stable, amongst animals, and is said to have gained respects from the poor people, sages from the East, and from angels too, which was a sign of His divine kingship. At the age of twelve, Jesus was able to discuss Godly and divine things with people much older to him, a mission for which Jesus was born. At the age of thirty, Jesus appeared before John to be baptized. Himself being sinless, Jesus sought baptism to wash out the sins on behalf of all humans and undertook a forty-day retreat in the desert wilderness, fasting. During this retreat, the gospel writing says he

Child Development Theories in Focus Essay Example | Topics and Well Written Essays - 2500 words

Child Development Theories in Focus - Essay Example Focus will be on Brofenbrenner’s Ecological Model which links development to the child’s various factors in the environment that influence the child’s experiences, learning and growth. The selected developmental stage to be discussed in this paper is the early childhood stage (age 2-6 years). In order to have a clearer picture of early child development, other theoretical frameworks by Piaget, Erikson, Freud, Maslow, Vygotsky and Bowlby shall also be referred to in conjunction with Brofenbrenner’s model as the theoretical framework of this paper. If applicable, the significance of the theory to early childhood children shall be discussed especially if the theory describes certain developmental stages. Brofenbrenner’s Ecological Model (1979) explains that the behaviour and development of an individual is an interplay of the individual’s biological and personality factors, his environment and the society and culture he was born into. Brofenbren ner also claims that effects of interactions between the individual and his environment are two-directional or characterized by reciprocity. This means that while a child’s development is influenced and moulded by his family, school and peers, he likewise influences and moulds the behaviour of others. The growing child moves through five systems that inter-relate and affect his development, namely, the microsystem, mesosystem, exosystem, macrosystem and chronosystem. The most basic ecological level is the microsystem, where direct contacts between the child and his immediate surroundings result in behaviours such as dependence or independence and cooperation or competition. An example of this is the home base of the child and his relationship with his family. The pure culture of the society the family lives in greatly influences how the family lives and how the child imbibes the culture as he expresses it in his developing personality. The microsystem is usually where the chi ld first develops attachments to his significant others like his parents. John Bowlby’s (1982) Attachment theory posit that attachment provides children with a sense of security, promotes communication and the expression of feelings and becomes a secure base for children to discover their world and eventually learn self-regulation and self-control. It is a devise that contributes to children’s developing sense of self. Research done by Rudolph Schaffer (1977) and Jerome Bruner (1977) yielded the concept of ‘joint involvement episodes’ (JIE’s) which may be related to the quality of attachment a child and his or her mother or significant other has. The researchers observed mothers’ and their babies’ behaviour while focused on a potential learning episode. While jointly involved in play, for instance, they fall into a turn-taking pattern of behaviour and such cooperation teaches the child about the rules of their play within a safe and se cure environment with a familiar adult. This gives him more courage to explore his world knowing he has a safe base to return to. The next level of Brofenbrenner’s Ecological model is the mesosystem, which comprises the linkages and processes that take place between two or more settings with the child in common. A perfect example is how learning in school is supported by follow up lessons in the home. At this level, the child gets to understand associations between people and things.

Soft Skills employers look for Essay Example | Topics and Well Written Essays - 500 words

Soft Skills employers look for - Essay Example Although I am confident I can work alone, I also know that I can be an asset to a team. I am capable of collaborating with other people to achieve a common goal. I also get along well with people so there will be no problems associating with the other team members. I have a positive attitude and I believe this can also help in motivating the team to feel good about the task we are working on. #3 – Attitude. I consider this the least of my strengths because I do not let this influence my performance at work. Nevertheless, I think of my attitude as a strength because at times it challenges me. For example, if I am having a bad day, I resist the temptation to give in and be short with everyone around me. I can easily blame my bad behavior to just being in a bad mood but I do not. Instead, I try and keep a professional attitude. This practice helps me accomplish my tasks at work. Moreover, it shows my colleagues that I am mature enough to limit how my attitude affects my performance and relationship with them. For my presentation skills, communication skills and leadership skills, I indeed have plans of developing myself in these areas. The most immediate one I would like to work on are my communication skills. I think being adept in communicating with people will help me advance in my studies, and consequently in the work environment. Right now, I believe I still need to improve my writing skills. Even though I can express myself well in spoken English, I still find it difficult to elaborate on my ideas when I do it on paper. In my opinion, a person can only be a fluent speaker if the individual is able to not only speak but write well. â€Å"Effective communication skills are the most basic building block when it comes to making sure things move forward.† (Noone, 2011) It is my belief that to be a productive employee or employer one should have sufficient communication skills to enable social and work interaction. This is

The Impact of E-Commerce on the US Labour Market Dissertation

The Impact of E-Commerce on the US Labour Market - Dissertation Example Moreover, the leading role of the US in E-Commerce might raise fears to otherin other countries for losing out their talent labours and their own competitiveness due to the global character of the revolution. Furthermore, the impact of E-Commerce on different industries or occupations is likely to be different; downward pressure in retail salespersons is perhaps more than offset by upward pressure in IT engineers, online customer service representatives and postal service carriers that E-Commerce generates. As wages, education and employment are highly correlated, E-Commerce does not only affect the labour market but also the national income level and qualifications that necessitate are needed to entering the industries. All of these factors indicate the high significance of E-Commerce to the economy and, therefore, , utilizing the full capacity of novelty could have overwhelming impacts to the aggregate economic performance; it is essential to perform a complete and precise analysis on this issue. This paper aims to look at the employment effect that E-Commerce has generated in the US, and particularly we will focus on analysing how the potential "'economy stream engine"' alters the employment structure in different industries. An industry-based approach is needed due to the fact that the diffusion of E-Commerce is of dissimilar magnitude in each industry; it is undoubtedly that the "Information" sector has been affected the most whilst the effect on "Construction" sector has been of "'second"' order. In the following section I shall summarize previous discussions and empirical literatures which are relevant to the theme. I shall then present the method that I employ in this research and refer to the pertinent economic theories... It's clear from the research that the current US administration under the President George W. Bush is no exception, and has: 1) signed the Internet Tax Moratorium and the Internet Non-Discrimination Act to make Internet access affordable for encouraging the evolution of E-Commerce; 2) kept the Internet a Duty-Free Zone to facilitate the growth of E-Commerce; 3) negotiated the â€Å"‘Cybercrime Convention†Ã¢â‚¬â„¢ with another 28 countries to fight Internet criminals; 4) expanded and strengthened crucial E-Infrastructure Protection to protect E-businesses from cyber threats; 5) approved the New Federal Standard, now called the Advanced Encryption Standard. In conclusion, due to data and time limitations, this paper analyzed just only 3 industries and is subjected to errors. As the employment impacts of E-Commerce are very complex and contradictory interactions, further researches on this topic can be done by extending the industry-based approach to all 12 industries in the US. Combining results from 12 industries will give an overview of how E-Commerce alters the labor market as a whole. Moreover, developing another assessing method will also be useful to analyze the thesis from another point of views. Finally, as consumer behaviors and policies differ between countries, it would also be interesting to see the analysis being done in other big E-Economy, such as Australia and or the United Kingdom, or to conjoin 2 or more countries in one analysis for measuring the international labor flows and migrations begotten by E-Commerce.

Ismg Essay Example | Topics and Well Written Essays - 1000 words - 3

Ismg - Essay Example For the company to be on the economical side; considering the fact that the company does not have a very strong financial background presently, it is suggested that ignoring the SAP was not too wrong a choice. With the rewriting also, the company did not falter so much in not choosing that option. This argument is made against the background that the company does not have the needed personnel to manage that system. Opting for outsourcing was therefore right at the time of the selection. With outsourcing, the company was sure of employing the services of experienced people whose reputation could be trusted based on their previous contracts. Trade off basically refers to the benefits that will exchanged for undertaking the requirements analysis. Considering the fact that the account payable project is a very huge project that comes with a lot of financial obligation, undertaking requirements analysis was going to be very beneficial in ensuring that the discharging company did not have to make wrong estimate with the needed requirements for the project so that it would get short of budget along the way. As noted in the case study, the winning bidder was going to bear every cost that would come apart from the agreed fee because the contract is a fixed amount contract. The trade off was therefore going to be that the winning bidder would not run at a lost for making wrong estimation and having to seek extra funding to cater for the excesses. On the surface, it may seem that the software development methodology adopted by the company was the waterfall module. However, the Hrad team themselves note that there was much more rapid over-lapping model than the traditional waterfall system. The over-lapping nature of the module is from the fact that there was an existing system that the project implementers had to rewrite a copy of. To this effect, it can be argued on a technical basis that the methodology was a prototyping. Prototyping has other

Ethics in the Media Essay Example | Topics and Well Written Essays - 1500 words

Ethics in the Media - Essay Example The concept of free speech and freedom of the press is therefore the glue that holds the country’s hard-fought-for freedoms intact. Political correctness is a term used to refer to the care in speaking that emerged in the 70s, gained strength in the 80s and remains an important topic in media relations today. When it first started being used, â€Å"Folks on the left used the term to dismiss views that were seen as too rigid and, also, to poke fun at themselves for the immense care they took to neither say nor do anything that might offend the political sensibilities of others† (Bliefuss, 2007). This half-joking sense of sensitivity in communication has since blown up into a very serious threat to our rights of free speech and free media. When considering whether we truly want political correctness as a guiding principle in our media, it is important that we take the time to more definitively define the term and its application. The importance of free speech and free media is highlighted in the First Amendment to the United States Constitution which states â€Å"Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the government for a redress of grievances.† (â€Å"The Constitution†, 2006). The Founding Fathers of America considered a free press one of, if not the most, important aspects in the formation of a free and democratic society. A great deal of their emphasis on this point stemmed from their perception that the media channels that then existed in England, after whom they patterned much of their legal code, was rigidly censored. Journalists who questioned the King’s decisions were often jailed or worse. The Founders knew that if the press were not free, the country would not be either.