...1. Amos McCoy is currently raising corn on his 100-acre farm and earning an accounting profit of $100 per acre. However, if he raised soybeans, he could earn $200 per acre. Is he currently earning an economic profit? Why or why not? 2. Determine whether each of the following is an explicit cost or an implicit cost: a) Payments for labor purchased in the labor market b) A firm’suse of a warehouse that it owns and could rent to another firm c) The wages that owners could earn if they did not work for themselves 3. What are economies of scale? Please give an example. What are diseconomies of scale? Please give an example. 4. Your rich relative died and left you $100,000, which you decided to use for your own Internet business. What will be your fixed and variable costs? Briefly discuss. 5. Explain the shape of the long-run average cost curve. How firms use the long-run cost curve to make choices about production? 6. What is the relationship between marginal cost and average cost? Briefly explain. 7. What distinguishes a firm's short run period from its long run priod? Briefly explain. 8. As a farmer, you must decide how many times during the year to plant a new crop. Also, you must decide how far apart to space the plants. Will diminishing returns to be a factor in your decision making? Briefly discuss. 9. How does having a menu that is uniform around the country provide McDonald's with economies of scale? Briefly discuss. 10. Please read an article...
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...After reading A Letter from Prison I have many takeaways and lessons learned. It is absolutely imperative that companies maintain their financial documents with as much accuracy and honesty as possible, and do their due diligence in taking whatever measures appropriate to have accurate financial data. If a company does not understand how to properly record revenue than it is their due diligence to comply with the accounting standards that are set and they must hire employee’s who understand how to properly handle the situation. The ethics within this case are very negative when it comes to revenue recognition and the backdating of software contracts. Recognizing revenue within certain time periods for future contracts that may or may not actually occur was another take-away from this case: you simply can’t do that and still comply with generally accepted accounting principles. The payments for these contracts were not reasonably assured because of the multi-year lengths, and, this was my “ah-ha” moment when reading this case. Safeguarding financial reporting is more about the reporting companies than anything else in my observation with a letter from prison. The company chose to backdate contracts and recognize revenue improperly without informing their auditors of these decisions or situations that were occurring. I do think that within other companies sometimes it is about the auditors and their role is to provide honest and professional auditing work of the financial statements...
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...The Minimum Wage Rate The minimum wage rate (the lowest legal rate to pay employees) has become a very controversial issue in the Unites States in recent years. The minimum wage rate does not reach the average living wage rate (the amount it costs to live in an area) in most parts of the country. The minimum wage rate is currently $7.25 in America, while the living wage rate for smaller cities such as Racine WI is $8.66 and Kenosha WI at $8.97 (Living Wage Calculator). The minimum wage rate needs to be raised to equal living wage rate in order for people to cover their living expenses. People also need to be able to set aside money for emergency situations. Human beings should be entitled to the basic necessities in life. According to Jeannette Wicks, "nearly two-thirds of people in households with incomes above the poverty line but below twice that level reported serious economic hardships--failing to pay their rent, having their phone disconnected, worrying about running out of food, or relying on the emergency room for routine medical care" (Wicks-Lim). Without a minimum wage rate that equals the living wage rate, people will continue to fall into a hole of debt they cannot dig themselves out of. It is not acceptable to allow people to fall further and further into debt, while businesses continue to deposit money in their savings accounts. Minimum wage does not provide a suitable savings for the average minimum wage worker. According to Jeannette Wicks-Lim, the average...
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...The number of people who applied for unemployment benefits and applications went down slightly last week, after a previous big drop the week before. The labor department said that there were 367,000 seasonal applications for unemployment. Applications for unemployment are a great measure of the pace of layoffs. When applications are consistently below 375,000, it says that job growth is strong enough to lower the countries unemployment rate. There were only 135,000 jobs that employers added in March and April, which is well below the amount of jobs available during the previous three months. This raised fears that the job market was slowing down. If applications stay where they are or even drop lower, than it is possible that hiring will rise to recovering levels of 150,000 to 200,000 per month. Leaps in job openings, points to more hiring in the coming months. From December to February it has been the best months of job growth since July 2008. With the unseasonably warm winter, many companies looked to higher earlier than they normally would of during the spring. Economists now are trying to calculate how much of an affect this will have on hiring during the spring. There are about 500,000 Americans that have left the work force since February. This is one reason unemployment has continued to fall, because people who leave the work force are not counted in unemployment. Even though the unemployment rate is falling we are still a long way away from recovery. Because...
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...Business Rules and Data Models Insert Name Insert Course Insert Date Business Rules and Data Models Big organizations like universities, colleges, banking and hospitals with large amount of data require a software that is able to organize the data and in the database. Therefore the primary use of a database management system is its ability to collect data, store and transmute it into informative information that can help business make decisions. In order to make this possible, a database must be able to reduce data redundancy, inconsistency, upsurge security features, reliability and allow concurrent access of the data and improve accuracy and accuracy. The most important purpose of such a database is to provide automated methods that are able to develop, store and retrieve data more efficiently (Chapman, 2014). There are several drawbacks that are associated with the use of conventional file systems. This is because of the fact that most of such databases applications are developed on top of an existing file system. For this reason, the following problems are expected. To begin with, is redundancy; it is a situation where a lot of file formats together with duplicate information is found in different files (Gillenson, 2005). Accessing such data is difficult and the duplication of data in a file system may sometimes require a new program to be written. Another problem associated with conventional file systems is the difficult in file isolation. This is...
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...Trans Pacific Partnership: A Balanced Approach To Agriculture The Trans Pacific Partnership could be one of the most comprehensive trade agreements that the world has ever seen, opening up new opportunities for all 12 member nations. Many Canadian companies are excited about the deal, and perhaps the most intrigued industry is the Canadian agricultural industry. Some of the most beneficial aspects of the deal for Canada, come to the agricultural industry. In fact, Canada could simply not afford to be out on this deal. Many of Canada’s current trading partners are involved in the TPP, so missing out on such an opportunity could have meant an eroding effect to several Canadian industries. Today, Canada is the fifth largest exporter of agricultural products worldwide, and through this deal, Canadian exports will only rise. The TPP will reduce or eliminate several tariffs on agricultural imports for countries involved in the deal. This will provide countries with an incentive to buy more, now that Canadian products will be relatively cheaper. Gains from the elimination of tariffs, and enhanced market access for Canadian agriculture are especially significant in markets such as Japan. Japans tariff removal on 32% of its agricultural imports, allows Canadian agricultural products to be more feasible for the Japanese market. Considering the article in the Asian Economic Papers Journal, it’s evident that due to the combined operation of the income and substitution...
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...Decide were to apply ACL and in which directions. There for I will place the access list on F0/0 of 2811 the nearest port of 182.64.0.0 R1>enable R1#configure terminal Enter configuration commands, one per line. End with CNTL/Z R1 (config) # access-list 101 deny ip host 182.64.0.0 182.62.0.0 0.0.0.0 R1 (config) # access-list 101 permit ip any any R1 (config) # interface fast Ethernet 0/0 R1 (config-if) # ip access-group 101 in R1 (config - if) # exit R1 (config) # Now I will block host to network R1 (config) # access-list 102 deny ip host 182.64.0.0 182.62.0.0 255.255.255.255 R1 (config) # access-list 102 permit ip any any R1 (config) # interface fast Ethernet 0/0 R1 (config-if) # ip access-group 102 in R1 (config - if) # exit R1 (config) # Block all telnet R1 (config) # access-list 104 deny ip host 182.64.0.0 182.62.0.0 0.0 0.0.0.0 eq23 R1 (config) # access-list 104 deny ip any any eq23 R1 (config) # access-list 104 permit ip any any R1 (config) # interface fast 0/0 R1 (config-if) # ip access-group 104 in R1 (config - if) # exit Block all ftp traffic R1 (config) # access-list 103 deny ip host 182.64.0.0 182.62.0.0 0.0 0.0.0.0 eq23 R1 (config) # access-list 103 deny ip any any eq23 R1 (config) # access-list 103 permit ip any any R1 (config) # interface Ethernet 0/0 R1 (config-if) # ip access-group 103 in R1 (config - if) # exit Reference Cisco. (n.d.). Configuring Commonly Used IP ACLs. Retrieved from http://www...
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...A) At the time of the news article, the U.S. dollar had depreciated. The short- run effect of this depreciation was to make U.S. goods and services and U.S. properties less expensive for foreigners. Mr. Reddy, among others, was trying to take advantage of the lower price by purchasing investment properties and development opportunities in the United States. B) Mr. Reddy’s actions increase the demand for U.S. dollars. If others take similar actions, the demand for U.S. dollars increases. If U.S. residents also begin to believe that buying U.S. investment properties offers a profitable opportunity, the supply of U.S. dollars decreases as the U.S. residents purchase U.S. properties rather than foreign properties. In addition, Mr. Reddy is expecting that the dollar will appreciate back to its previous level. If others have the same expectation, once again the demand for dollars increases and the supply of dollars decreases. On both counts, the dollar appreciates. This change in the exchange rate resembles a self-fulfilling prophecy because market participants expect the dollar to appreciate and, as a result, it does so. Of course, the fundamental reason for the change is the shift in people’s beliefs. 3) A) TheChinesegovernmentmodifieditscurrencypolicyonJuly21,2005.It announced that the yuan’s exchange rate would become “adjustable, based on market supply and demand with reference to exchange rate movements of currencies in a basket” (it was later announced that the composition...
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...Adrian Howley Classical Argument Reporting earthquakes are very critical to studying the behavior of tectonic plates. The very first recorded earthquake occurred in the year 1831 B.C. and is currently known today as the 526 Antioch Earthquake. The area affected was Antioch, China (located between the Syria and Turkey regions). Not much is known about how the report was formed. However, this historic report did include information about how the aftershocks lasted for twelve months. Other details from this report indicate that the death toll is around 250,000 to 300,000 casualties. Scientists today can only prove that the earthquake occurred between May 20 and May 29 (date translated from B.C. to Calendar Year). The first instrument to measure the seismic waves of earthquakes was invented by Charles F. Richter at the California Institute of Technology. (Bellis, 2013) He introduced his new instrument called the Richter scale, to the world of science. His invention allows scientists today to study the mechanics behind earthquakes and locate the epicenter to which the natural disaster originated. The largest earthquake recorded by the Richter scale was measured on May 22, 1960 at a magnitude of 9.5. The quake resulted in 1,886 deaths, 2,000,000 homeless, and $1,175,000,000 total in damages. (“The Largest Earthquake”, [PDF file]) If we want to see these large numbers slide down to zero, the impossible will need to be challenged by science. Skyscrapers are buildings consisting...
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...Building the Burj Khalifa: Main: Chronological order 200 Mechanical, electrical and plumbing: air conditioning (temperature), 300 Safety – (getting everyone out) refuge rooms 300 Elevators– mention of transition from steam to motor and latched systems and electrical brakes and coping with load 100 Spire 100 Maintenance - Broadcast and communications floors, Mechanical Floors Conc: How it has progressed engineering and enabled more (buttress structure). Future plans – The kingdom Tower in Saudi (1km into the sky) Building potential: Space elevator, new arising problems, strength of materials, what that would mean and enable if possible. Throughout history, progression and advancement in technology has fundamentally separated us from our evolutionary antecedents, enabling a life of greater comfort, extravagance and an increased ability to procreate and sustain ourselves. This improvement is especially apparent in the world of architecture and civil engineering, where there has been an unremitting ambition to surpass the existing boundaries, particularly with regards to height. The most renowned early example of a structure where height was key are the Pyramids of Giza where elevation was crucial in order to radiate power and divine authority. The tallest pyramid, standing at 146.5m, was built more than 4500 years ago, and remained the tallest manmade structure for the next 3800 years, until the 1300s when Lincoln Cathedral was built topping it by only 13.5m [1][2]...
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...western hemisphere. High building consists of approximately 104 standard floor is 541 meters. This building was opened in November 2014. One World Trade Center (Freedom Tower) looks like a pyramid when viewed from the road surface near to the building, as seen in the image of the building. https://timedotcom.files.wordpress.com 7. Taipe 101 (509m) This building is located in Taipei, Taiwan. Height of the building is 509 m with the total floors are 101. In many cases, the building is recognized as one of the most advanced skyscrapers in the world. One of the superiorities of this building is having a fiber-optic and internet connection satellite which can reach speeds of 1 gigabyte per second. Besides, the elevator building also was fastest than Burj Khalifa, 63 km/hour means that to reach the 89th floor, it only takes 39 seconds. The building was already used in 2004 has a sophisticated tools that can stabilize the building from the force of earthquakes and hurricanes. http://www.taipei-101.com.tw/ 8. Shanghai World Financial Center (492m) The tower is located in Pudong, Shanghai, China and has a height of 492 m with the floors total 101. The top floor is 474 m and was built in 1997-2008. The most distinctive of this building is the trapezium aperture at the top. Aperture with a diameter of 46 m it functions for reducing the pressure of the wind. And the uniqueness of this building if we observed it looks like a giant corkscrew. http://www.maersk.com/ 9. International...
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...structure. The Burj Dubai, situated in Dubai, will soon be the tallest building in the world, bypassing the previous record holder, the Taipei 101 by almost 290 metres giving it an astonishing 800 metre height. With over 2700 feet, designing and constructing such a vast building has given significant challenges to engineers and designers alike. Since the building can hold up to 35,000 people at once, it is essential that it is strong, comfortable and able to move people up and down it at a steady rate. This essay will explore how the designers and engineers went about solving these issues. One of the key problems the engineers had to overcome was effect of the wind load and how it would affect the building motions due to the extraordinary height of the tower. Wind load is something that must be taken into account for all buildings, but obviously the wind velocity increases the higher you go and since the structure is over 800 metres tall, there is guaranteed to be a large wind force acting on the building. Three different engineering firms: Skidmore, Owings and Merrill who were all working on the project, hired the RWDI (Rowan Williams Davies & Irwin Inc.) a wind and environmental engineering firm to conduct wind studies on the Burj Dubai’s design. The RWDI had worked on a number of previous projects such as the Petronas Towers and the Taipei 101 and its facilities included four boundary wind tunnels. Their job was to minimize the effects of the wind load and building motion of the...
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...Entry 1 (24th September 2012) It's exactly 12:01 am now, and seeing that this is my first entry, I should update a little of myself. I'm currently at Taiwan for a short vacation with my high school friends of about 10years. And they are Lee Sue Ee, Soh Pei Ling, and Chong Yee Wun. We arrived here on Saturday, 22nd September 2012, and so far it has been an hectic journey seeing that we are here on our own for the first time and we did not go through any travel agency. Enough of updating, I just finish my STA assessment and e-mailed it to my group mates to submit later in the morning. I just hope that I did good enough despite my heavy schedule and with little initiative. Oh yes, I am now in my room while the girls are sleeping and the view is just amazingly breath-taking. How fortunate i am that I could do my assignment while looking at this sea view. The sound of the rushing waves eases my mind to relaxation and light music as my background to suit my emotion. The only thing that lack, is a partner to share this spectacular moment. Anyway, I should sleep now. Gotta be up early later for another tour around the north-east Taiwan before heading to the capital city Taipei later in the evening. I will update my entry again later whilst exploring every possibility here. Good Night ! Good afternoon, it was quite a day after waking up restlessly. Breakfast here was amazing, I mean, what more can we ask with such nature phenomenal as our spectacular view. After finishing our...
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...Seven Wonders of 21st Century Architecture You may not be able to name them all, but most people have at least heard of the 7 Wonders of the Ancient World. Here’s a list with links: Great Pyramid of Giza, Hanging Gardens of Babylon, Temple of Artemis, Statue of Zeus at Olympia, Mausoleum of Halicarnassus, Colossus of Rhodes, and the Lighthouse of Alexandria . Of the seven, only the Pyramid remains, the rest we know of only through historic documents.[1] There have been other “7 Wonders” lists and in 2007, the Swiss government sponsored a project to create a new list, with selections made by popular vote. Over 100 million votes were cast, and the new 7 Wonders were announced as follows: Chichen Itza (the Yucatan, Mexico pyramid), Christ the Redeemer (Brazil’s enormous statue of Jesus), Colosseum (Rome’s arena of Gladiators),Great Wall of China (you can see it from space!),Machu Picchu (ancient city built on an unbelievably high mountain top in Peru),Petra (Jordan’s city cut directly into the side of a stone mountain ),and the Taj Mahal (India’s majestic temple/mausoleum).[2] But my final Cyber Journey of the semester started not as a stroll through history, but as a trip into the future of arts and Architecture with a look at another “7 Wonders” list – The 7 New Wonders of the 21st Century [3], as selected by Architecture, an online review published by the website Quazen. With no further ado, here are the 7: * Millau Viaduct http://en.wikipedia.org/wiki/Millau_Viaduct ...
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...Photography Photography * Transforms the passing moment of a three dimensional event into a frozen instant reduced in size on a flat piece of paper. * Transforms a three dimensional composition into two dimensional. Uses of Photography in the Philippines * Portraiture * In the Philippines, the first forms of photos were of the size of calling cards called cartes de visite (4” x 2 ½”) and the tarjeta (3 ½” x 5 ½”) used for mailing as a postcard. * In the 1800’s, photo studios sprouted in Sta. Cruz, Binondo and Quiapo. * Life-size photos are hung in living rooms and became status symbols. * Research and Documentation * Photo journalism became a field which shows a visualized history through photos captured in actual events. * Travel and Tourism * Photos are used widely to promote the beauty of the country like photos of colorful festival celebrations, beautiful tourist spots and night life posted in the net and magazines. * Propaganda * Used as an effective communication tool to promote political messages. * Photos are also incorporated in the campaign materials of the government. * Advertising * Photographs are used to sell products, services and personalities. * Billboards and print ads used photographs more than text to sell. * Artists’ tool and art medium * Augusto Fuster is the first painter who used photographs to composed pictures as paintings. * Photographs are also used by artists...
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