Managerial Economics Essay Example for Free

Managerial Economics Essay Identify the fixed and variable inputs. The firms w x L is fixed through out the production process, so $300 is the fixed cost. Firms, cost of capital r x K is the variable cost. It is variable through out the production process. Gus Bonilla MBA 217 Managerial Economics Individual Assignment b. What are the firm’s fixed costs? Cost of labor is the Firms fixed costs, it is equal to $300 c. What is the variable cost of producing 475 units of output? The variable cost are $75 x 6 = 0 d. How many units of the variable input should be used to maximize profits? Profit maximization is achieved when MR=MC. Since the firm runs in a competitive market MR=Price= $2. MC=MR, achieved in between 450 and 475 units of out put, and minimum ATC is achieved at 450 units. So, profit maximizing output is at around 450 units e. What are the maximum profits this firm can earn? Profit is maximized at 450 units of output. TR= 900 TC= 675 Profit= TR- Tc = 900- 675 = $225 f. Over what range of the variable input usage do increasing marginal returns exist? Increasing marginal returns from point 0 units of VC to 3 units. Gus Bonilla MBA 217 Managerial Economics Individual Assignment g. Over what range of the variable input usage do decreasing marginal returns exist? From unit #4 of Variable input (K) onwards there will be decreasing marginal returns h. Over what range of input usage do negative marginal returns exist? From input units 7th onwards there will be negative returns, as the firm incurs losses from this point. Where its ATC is higher than the MR. ) Explain the difference between the law of diminishing marginal returns and the law of diminishing marginal rate of technical substitution? Law of diminishing marginal returns: According to the law of diminishing marginal returns, the margin product will fall if we decide to add more inputs. ?In other words, In a production system, having fixed and variable inputs, keeping the fixed inputs constant, as more of a variable input is added, each additional unit of input yields less and less additional output. Law of diminishing marginal rate of technical substitution: This law suggests that it takes a large amount of capital to replace a unit of labor when capital use is high but little labor is used. As labor becomes more abundant and capital becomes scarcer, however, less capital is required to replace an additional unit of labor. In other words, the law of diminishing marginal rate of technical substitution indicates that it is relatively difficult to replace additional quantities of an input when the level of that input becomes relatively low.

Reiki Therapy Essay -- Research Japanese Papers

Reiki Therapy The History of Reiki According to the Reiki Holistic Healing at Christal Center web page, the word â€Å"Reiki† is defined as the Japanese word for â€Å"universal energy†. Reiki therapy is a â€Å"laying on of hands† by a therapist who has studied Reiki, and therefore has enabled him/herself to provide a channel of healing energy for their clients. Although Dr. Makao Usui, a Christian monk, is credited with rediscovering Reiki therapy in Japan during the 1800’s, believers say this therapy dates all the way back to when Jesus healed others through his touch thousands of years ago (http://www.cwizard.com/christal/reiki.htm). Wade Ryan (a Reiki Master) claims in his web page on facts about Reiki that this is not a religion, but that the spiritual energy received by clients often leads to an expansion of one’s own personal faith (http://www.freeyellow.com/members/Reiki/page1.html). â€Å"The Three Reikis† (http://www.freeyellow.com/members/Reiki/page2.html) explains that about five years ago distinctions for three forms of Reiki were recognized. The three forms are Usui Reiki, Vajra Reiki, and Karuna Reiki. Usui Reiki is the traditional form of Reiki rediscovered by Dr. Usui. Usui Reiki is noted for being a very gentle therapy, and therefore appropriate for adults and children seeking to maintain their good health, for providing energy to those who are lacking it due to illness or treatment, and also for the elderly. During Usui Reiki, the Practitioner’s Hand Positions are centered mainly on the head or torso. Although most Practitioners are satisfied with Usui Reiki Ability, those who are interested in a wider range of Healing Energy (i.e. caregivers of the extremely ill) would be more interested in Vajra R... ... very few studies out on this topic, and those that are out seem to disagree with each other; some are in favor of the benefits of Reiki, and some claim that these benefits only exist because of psychological reasons or don’t exist at all. Although Reiki is an ancient practice, it is just beginning to become popular in modern medicine. We can expect more and more research to be published in the near future as more studies are conducted and completed. Bibliography Green, CA (1998). Reflection of a therapeutic touch experience: case study 2. Complementary Therapies in Nursing & Midwifery, 4(1), 17-21. Samarel, N. (1997). Therapeutic touch, dialogue, and women's experiences in breast cancer surgery. Holistic Nursing Practice, 12(1), 62-70. Thornton, Lucia Marie (1993). Effects of energetic healing on female nursing students. MAI, 31/01, 284.

Legal and Ethical Responsibilities Essay

This memo is in response to the company’s decrease in sales and profit because of the current state of the economy. The company will be executing more cost-effective measures because of this present situation. These new procedures will begin immediately with approval from the company owners. The first change will be a reduction in the monetary incentives for the sales department. To be successful in implementing this change a complete understanding of the sales process is mandatory. Consumer and salespeople feedback will be instrumental in gathering the data necessary to make a concise and informed decision on the best way to reduce the incentives for every party involved. The first step in the decision-making process is determining the facts of the situation at hand (Hartman & DesJardins, 2011, p. 47). The facts are that the company is losing income because of the economy. Additionally known is the company profits are on the finished product that meets the need of the consumer. A written survey will ascertain what the specific needs and wants of the consumer toward a particular product are. Once the feedback is analyzed, the products most in demand by the consumer will continue with production, whereas the products in less demand will begin interruption until the sales or the demand from the consumer are in need. This step will aid in cutting costs for products with unnecessary production. As an example, there was a significant increase in sales the first few years, opposed to last year’s sales that decreased substantially for the products not in demand. By investigating and discovering products in demand will aid in painting a clearer picture, thus assisting in cutting production cost that will get the company back in line with increasing sales and profits. Additionally, investigating and discovering will keep the plan of reducing monetary incentives for the sales force until sales and profits are on the increase again. However, the plan is to once again start issuing monetary incentives to the sales force once the company starts again seeing an increase in sales and profits. For this plan to be successful it will be necessary to motivate the sales force with tools to set achievable goals relating to increasing company sales and profits. This also has a direct impact on the sales force pertaining to the company’s organization and management. Upper management as well as the owners of the company has to be on the same accord concerning aiding the sales department in reaching their goals by providing motivation and support to the sales department. A strong support system is imperative if the sales team along with the organization is to reach their primary objectives. This plan will also include evaluations on the progress of the sales department pertaining to reaching their goals. The second and final change will be implementing a month-long layoff for some of the production employees. Laying-off production workers for a month will cut production costs of producing products unnecessary for the economy. While keeping in mind that this layoff will also have an adverse result on producing products in demand. Instead of laying off production workers, the more cost-effective way would be to keep them at work to help meet the current demand for products. The workers still working with the organization will receive more overtime, and this is not cost-effective because the result is increasing payroll for employees. Although removing monetary incentives for the sales department and laying-off a portion of the production department is legal, it does nothing for morale. Ethically there will be some repercussions to implementing these changes. Some of the repercussions may include employees leaving the organization and a decline in sales means possible bankruptcy. Implementing a more amicable plan will have a more positive influence that will promote a higher morale and happiness. With a higher morale, this will more likely promote a boost in productivity.

English Legal System Course Work Id 1414686 - 1467 Words

English legal system course work ID 1414686 My visit on the 15/12/14 at the Croydon magistrate court was to observe the court proceedings and how the civil and criminal justices system operates in England and wales. Also how magistrates and judges decides cases and why they arrived at certain decision. I arrived earlier in court pass the security checks and went in the court office and explain my purposed of visit. I attended court number eleven which was very busy with cases that day. Court commence at exactly ten in the morning, the presiding magistrate Mr Knowles and two other magistrates, they are also known as justices of the peace, section 121 magistrates court Act 1980. The two other magistrates are Miss Gostic and Miss†¦show more content†¦After reading the charges against the defendant, the presiding magistrates ask the defendant if he understanding the charges against him. And also if he is going to plead guilty or not guilty. In this cases the defendant entered into an early plea of all the charges against him. Early plea in any cases in the UK and Wales is very significant. One it quick, it’s save time and money Wolf Report. The magistrate then commence sentencing hearing. He first consult the court assistance and in sentencing the magistrate has to consider the guide line sentencing council 2010. Because of this cases is an early plea case, the magistrate has to consider the gravity of the case and the circumstances of the accuser. In carrying out the sentencing the judge told the defendant that the offence he committed was enough to send him to prison, but because he pleaded guilty he will reduce his sentence to twenty months of not drinking any vehicles in the United Kingdom and Wales he should also be given two years’ probation period. In this time he should not committed any crime or be seen in any crime scene. He will be arrested and send to jail if he break his probation rules. Normally in this types of case the defendant should have been sentence to at least six month s in prison but because of the early plea and the circumstance of the defendant that makes the magistrates to give him lesser sentences. Another very important thing in this cases was, this is the first time the accuser has