UK law property management practice Essay Example | Topics and Well Written Essays - 3250 words

UK law property the board practice - Essay Example Thought of elective market leases, general and explicit situational focal points and disservices examination of such elective types of leases in the market A rent in UK law relates to the allowing of selectiveness in land ownership for a term that is very much characterized and for a term that is shorter than that for which the grantor of the rent has oneself has lawful land ownership. As the definition suggests, there are three perspectives to the rent. The first has to do with the selectiveness of the ownership. The second has to do with the fixed idea of the rent regarding time. The third is that the term of the rent must be shorter than the legitimate opportunity to which the grantor of the rent has ownership of the land (In Brief 2013). Making a stride back, the Crown in principle has responsibility for land in the UK, and that different people as a rule hold either a rent on the land, or, in all likelihood has a freehold relationship with the land, which is the most grounded ty pe of land proprietorship under UK law, outside of the Crown’s supreme responsibility for land (In Brief 2013b). ... he leaseholder in this sense turns into an occupant too in the meaning of the law, implying that inside the details of a lawfully restricting lease understanding, the inhabitant is the perceived land proprietor under the law. In this sense, as proprietor of the land, he can lawfully utilize the land as different proprietors of the land do, with the proviso that those utilizations for which the land is utilized by the proprietor is inside the limits of the prerequisites set out by rules. Then again, rights expand just so far as the proprietor of the rent has the option to involve the land totally, until the leaseholder doesn't satisfy the legally binding commitments, for example, in cases when the leaseholder neglects to follow through on lease installments. Outside of this, the grantor of the rent can't end the rent before the date of lapse or the finish of the time of tenure, aside from with the serving of a notification carefully managed by fixed and determined conditions. Then aga in, the institutional rent is supposed to be the foundation of business property law and the market for such rents in the UK. This is described by long terms, typically a fourth of a century, and is, as determined above, FRI type leases, implying that they are full fixing just as full safeguarding. Because of the trustworthiness and consistency of such rents, with the lease audits being done typically as well, at regular intervals for the rent term, these have gotten investible from the perspective of foundations, for example, benefits firms as talked about above. Here the profits are unsurprising and ensured partly, as long as the occupants follow through on their lease installments and their other related legally binding commitments to the land and property (Mleyshon n.d.). That the institutional rent has become the establishment of

Within Christianity Essays

Inside Christianity Essays Inside Christianity Essay Inside Christianity Essay Inside Christianity there are a wide scope of images which speak to what is accepted. Christian structures are themselves emblematic, just like the things within them. Essentially, Christians use shading and music for various events to represent various things. These parts of Christianity can be distinctive in size and style (present day or conventional) contingent upon which category is being represented.In terms of Christian structures, the engineering and configuration is regularly representative. There are three fundamental sorts of structures; houses of God, customary temples and free places of worship. Houses of God are normally huge and this shows their significance. They were generally worked at the focal point of the network to speak to Gods majesty on Earth. Inside houses of God and area temples, the special stepped area is the focal point of consideration as this is the place the principle demonstration of love happens. Methodist chapels frequently have littler raised area s than different categories. The platform is the place the expression of God is spoken and it very well may be looking like a bird which represents the spreading of Gods words. Customary houses of worship are frequently worked looking like a cross which speaks to the conciliatory passing of Jesus Christ.The enormous arch on the highest point of the congregation represents Christs nearness, time everlasting and the proximity of paradise. Inside, universal chapels are frequently lavishly brightened with carvings that speak to the life of Christ. Free places of worship, then again, are the place Baptist meet and these gatherings occur in basic lobbies where the platform is the focal point of consideration. The lectern is marginally raised which makes admirers turn upward to hear the expression of God, in this way representing the significance of lecturing from the book of scriptures. The textual style is for the most part close to the passageway of the congregation and represents indiv iduals entering the Christian confidence. It is the place individuals are sanctified through water with water and water represents the washing endlessly of unique sin just as purging and replenishing.Inside conventional houses of worship, there are regularly a scope of symbols, sculptures and recolored glass windows which are all emblematic. Symbols are compositions (generally of holy people) and are regularly welcomed by admirers with a kiss on entering the structure. They are utilized to speak to the nearness of holy people and as a way to supplicate. Inside huge houses of God and chapels, there are frequently vivid paintings or frescoes and delightful recolored glass windows delineating scriptural stories. For a considerable length of time the best work of driving specialists was made for places of worship all to offer to God the most noteworthy articulation of love (ie the craftsmen hard work) and to make a feeling of stunningness and miracle. Candles represent God making light on the main day and smoke which goes up to paradise. The ottoman represents regard and an unassuming way to deal with God through stooping. Birds are images of harmony, immaculateness and reconciliation.Similarly, Christians use shading and music for various events to represent various things. Yellow and gold speak to birth and delight and as such are related with Christmas, the virgin birth of Jesus Christ. At Christmas, the star represents direction which help us to remember the three insightful men. Dark speaks to death and is related with burial services. Red speaks to blood and at Holy Communion, bread and wine represent the body and blood of Christ. White is related immaculateness and alongside lilies and is related with weddings and Easter.Church music is likewise emblematic in Christianity as it is utilized to laud God and to communicate conviction. Mozart, Bach, Beethoven and comparative incredible writers composed music for venerate. Psalms have been a piece of Christian l ove for a long time and the words are regularly taken from entries of sacred text. In protestant places of worship, ensembles have a significant job in offering authority to singing. In Christianity, there are a wide range of sorts of instruments that are utilized in love structure organs to metal instruments and guitars. The music utilized in Christian love can be grave and stately or uproarious and vivacious relying on the kind of chapel and the event. The kind of instrument and disposition of music is frequently emblematic of festivity or sadness.Symbolism has an imperative influence in strict articulation. Christian convictions are generally communicated through love in custom structure (for instance absolution) and that is likewise a sort of imagery. In Christianity, ICTHUS is an old image, it represents Jesus (I), Christ(C), Gold (H), Son (TH), Savior (US). Similarly,Alpha Omega represents Jesus being everlasting and helps Christians to remember Jesus nearness toward the very beginning.

Essay Topics For Technology - How to Choose Top-Notch Essays on Technology

Essay Topics For Technology - How to Choose Top-Notch Essays on TechnologyHaving the right essay topics for technology in school can help you reach your objectives faster. There are many times when I hear students complaining that they do not know what to write about in their essays.I was once faced with this same problem myself. It was frustrating, because I knew that many people were facing the same problem. This is especially true for students who are trying to get into top colleges.They have several majors essays to write, but they do not know how to choose a topic that is right for them. Once I solved the problem of this type of essay topics for technology, it was simple to understand how to help others. This guide will show you how to choose topics to help you succeed in your career as well.First of all, one should realize that not all essay topics for technology should be about the particular aspect of the technology itself. You should be able to broaden your choices as much a s possible. If your mother knows more about computers than you do, you should not write about computer technology alone. You should write about different facets of technology if possible.The reason why is because writing about technology is just another part of the whole essay. It is just like adding several other parts to make a whole. If you add technology and a particular aspect to your essay, then you have two important pieces of information to compose your thesis on.By broadening your possibilities you will also ensure that you are not writing the same possible topic repeatedly. It is a bit hard to follow the same pattern of writing if you have many different types of subjects to write about. Besides, broadening your choice of topics also keeps you away from being bored easily.Before you can begin researching for a great topic for your essay, it is best that you understand the basics of how to research. Once you know how to do it, then you can easily answer questions that peopl e have. This will ensure that you are not distracted while doing the research, which will cause you to write poorly and get your essay topics for technology wrong.So in conclusion, I will now give you an easier way to do the research yourself. You will learn all the basic information in this article so that you can improve your essay's in no time.

Summary Bolivian Penury - 1946 Words

Bolivian Penury Not unlike many of the Southern American countries which were colonized by Spanish conquistadors, Bolivia was imperialized by spaniards in the 16th century through the defeat of the Incan Empire. The native population of Bolivia was thrust immediately into poverty and slavery, though they avoided the major devastation of European disease which ravaged through other native settlements which had been imperialized. Spaniards put slaves to work mining and â€Å"By the end of the 17th century, the mineral wealth had begun to dry up.† (Infoplease) Bolivia gained its independence in 1825 and suffered from much turmoil within and without its borders. It lost much land to outside forces, and political instability, as is common among recently independent countries, contributed to a loss of diminishing wealth. The country currently sits on the second largest natural gas deposit in the world, and also contains much oil, but due to lack of capitalism in the country, it has yet to draw upon this large advantage. Currently, â€Å"the country ranks 108th out of 187 countries on the United Nations Development Programme’s Human Development Index† (IFAD) About 60% of Bolivians are impoverished, and most of this poverty is among the indigenous population. The country suffers such poverty due to: Lack of capitalism, lack of rural roads or forms of easy transportation, limited access to institutions such as schools and hospitals. There are several solutions to the problems present in

Environmental Destruction in Southeast Asia due to Golf...

Environmental Destruction in Southeast Asia due to Golf Course Development The sport of golf has come a long way since it was first played on the wind blown pasture lands of Scotland over 600 years ago. Today, golf courses around the world are in a way their own small ecosystem, where only pieces of the natural environment are a part of these artificial landscapes. Courses are meticulously groomed for both championship and tourist play. The game is taking front stage all over the world and new courses are being constructed everyday. This may be great for the game of golf and the wealthy investor who is making millions off of these luscious green fairways, but what about the drawbacks to environmental degradation that it is causing?†¦show more content†¦The rising prices of green fees, club memberships, and a lack of land to build on in their own country have sent the Japanese to countries such as Thailand, Malaysia, and Indonesia to satisfy their golfing needs. It has become more economically feasible for people to golf in these neighboring countri es than in their own. Golf courses in these countries also provide caddying services and other amenities that are hard to come by anywhere else in the world. At some courses in Thailand each player has up to 4 different caddies(site). The caddies carry the player’s bag, clean their equipment, provide players with snacks and beverages and even prostitution in some cases. New golf resorts have rapidly developed throughout the region and are now attracting Western tourists and investors to profit from these new resorts. Organizations such as the Tourism Authority of Thailand (TAT) are welcoming these outsiders with open arms and are failing to pay attention to the environmental and social impacts that this new development is bringing about. Water Usage and Contamination In the countries of Southeast Asia clean water is a rather precious resource and water shortages are common. As elsewhere in the world, it is needed for agriculture, drinking and other daily tasks by the people of villages and towns throughout these countries.Show MoreRelatedInternational Management67196 Words   |  269 PagesEast and Africa and continuing tensions in Iran, North Korea, Iraq, and Afghanistan, especially as the U.S. role in these latter two countries evolves. On the economic front, failure to conclude important trade agreements, including the so-called â€Å"Development† Round of multilateral trade negotiations under the World Trade Organization, and the lagging support for some bilateral trade agreements pose additional challenges to global managers and multinational companies. In addition, the BP oil spill inRead MoreMarketing Communications Notes17720 Words   |  71 PagesPlease note that in this course, unless otherwise indicated, ‘productâ⠂¬â„¢ and ‘product category’ should be interpreted as ‘product/service’ and ‘product/service category’. 2 MKT B366 Marketing Communications Objectives By the end of Unit 1, you should be able to: 1 Illustrate the communication process, using a diagram, and apply it in a given marketing situation. Define integrated marketing communications, and discuss how it applies specifically to the development of promotional strategiesRead MoreStrategic Marketing Management337596 Words   |  1351 Pages153 159 165 167 169 169 170 174 182 188 192 202 214 215 221 223 223 230 236 241 246 248 250 251 255 261 4 Market and environmental analysis 4.1 4.2 4.3 4.4 4.5 4.6 4.7 4.8 4.9 4.10 Learning objectives Introduction: the changing business environment (or the new marketing reality) Analysing the environment The nature of the marketing environment The evolution of environmental analysis The political, economic, social and technological environments Coming to terms with the industry and market breakpointsRead MoreCase Studies67624 Words   |  271 PagesC-157 CASE 11 Philip Morris C-173 CASE 12 Pisces Group of Singapore C-188 CASE 13 Raffles, Singapore’s historic hotel C-194 CASE 14 Southwest Airlines, 1996 C-205 Introduction Preparing an effective case analysis In most strategic management courses, cases are used extensively as a teaching tool.1 A key reason is that cases provide active learners with opportunities to use the strategic management process to identify and solve organisational problems. Thus, by analysing situations that are describedRead MoreMarketing Mistakes and Successes175322 Words   |  702 Pagesseven that were deleted from the previous edition. Some of the cases are so current we continued updating until the manuscript left for the production process. We have tried to keep all cases as current as possible by using Postscripts, Later Developments, and Updates. A number of you have asked that I identify which cases would be appropriate for the traditional coverage of topics as organized in typical marketing texts. With most cases it is not possible to truly compartmentalize the mistakeRead MoreProject Mgmt296381 Words   |  1186 PagesActivity duration estimates (.3) 6.4.2 Estimating tools (.1.3.4) 6.3.1 Identifying resources 7.1 Activity cost estimates (.2.3.4.5) 5.1.2.4 Delphi method Chapter 6 10.5.3 Cost/schedule system (.1) 6.6 .2.1 Time performance 7.2.3.1 Cost baseline development 7.3.2.1 Earned value system (F.4) 7.3.2.4 E.V., performance status report 7.3.2.2 E.V., forecasts 7.3.2.3 EV., to complete index (EAC) 7.3.2.5 Schedule and cost variance Developing a Project Plan 4.2.2 Planning tools 6.2 Sequence activitiesRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesMyth or Science? â€Å"The Support of Others Improves Our Chances of Accomplishing Our Goals† 204 S A L An Ethical Choice Motivated to Behave Unethically 209 glOBalization! Autonomy Needs Around the Globe 210 Self-Assessment Library What Are My Course Performance Goals? 214 Point/Counterpoint Fear Is a Powerful Motivator 229 Questions for Review 230 Experiential Exercise Goal-Setting Task 230 Ethical Dilemma The Big Easy? 230 Case Incident 1 It’s Not Fair! 231 Case Incident 2 Bullying Bosses 231 Read MoreProject Managment Case Studies214937 Words   |  860 PagesCorporation 43 Acorn Industries 49 MIS Project Management at First National Bank Cordova Research Group 70 Cortez Plastics 71 L. P. Manning Corporation 72 Project Firecracker 74 56 CONTENTS Phillip Condit and Boeing 777: From Design and Development to Production and Sales 81 AMP of Canada (A) 105 AMP of Canada (B) (see handout provided by instructor) AMP of Canada (C) (see handout provided by instructor) Lipton Canada 118 Riverview Children s Hospital 124 The Evolution of Project ManagementRead MoreManagement Course: Mba−10 General Management215330 Words   |  862 PagesManagement Course: MBA−10 General Management California College for Health Sciences MBA Program McGraw-Hill/Irwin abc McGraw−Hill Primis ISBN: 0−390−58539−4 Text: Effective Behavior in Organizations, Seventh Edition Cohen Harvard Business Review Finance Articles The Power of Management Capital Feigenbaum−Feigenbaum International Management, Sixth Edition Hodgetts−Luthans−Doh Contemporary Management, Fourth Edition Jones−George Driving Shareholder Value Morin−Jarrell LeadershipRead MoreFundamentals of Hrm263904 Words   |  1056 Pagesenvironment integrates the entire digital textbook with the most effective instructor and student resources With WileyPLUS: Students achieve concept mastery in a rich, structured environment that’s available 24/7 Instructors personalize and manage their course more effectively with assessment, assignments, grade tracking, and more manage time better study smarter save money From multiple study paths, to self-assessment, to a wealth of interactive visual and audio resources, WileyPLUS gives you everything

The Yellow Wallpaper - 770 Words

nbsp;nbsp;nbsp;nbsp;nbsp;Vintage short stories are meant to entertain their readers. However, many passive readers miss the true entertainment that lies within the story in the hidden context. Most short stories have, embedded in the writing, a lesson or theme attached to them. In the short story â€Å"The Yellow Wallpaper,† Gilman demonstrates a woman who has suffered from repression and longs for the freedom from her controlling husband. Gender conflicts play a major role throughout this story. The author portrays these kinds of conflicts through the three main characters, John, Jennie and the narrator. The theme of this story is a womans fall into insanity resulting from isolation from treatment of post-partum depression. Gilman is†¦show more content†¦However, as the story continues, the woman’s attitude changes toward the wallpaper. nbsp;nbsp;nbsp;nbsp;nbsp;Through given belittling comments, often disguised as cute nick-names, John was able to settle any doubts, yet maintain his suppression over her. Such examples are â€Å"Bless her little heart! She shall be as sick as she pleases! And talk about it in the morning!† Unfortunately, because she was so depressed and vulnerable John was easily able to dominate and suppress her. Also, throughout the story John would commonly mistake her kindness for weakness and in coalition, abuse her trust. nbsp;nbsp;nbsp;nbsp;nbsp;Since the narrator is limited to the same room day after day, she starts to study the wallpaper. quot;I determine for the thousandth time that I will follow that pointless pattern to some sort of conclusion.quot; She refers to the pattern as the control that men had over women. During that time, a woman was the property of her father until she was married. She was then under the control of her husband with no rights. Her husband made her decisions and basically took over her life. As time goes on, her mental illness gets worse. She starts to get paranoid about her husband and Jennie. quot;The fact is, I am getting a little afraid of John. He seems very queer sometimes and even Jennie has an inexplicable look.quot; In her mind she starts to actually see the woman from theShow MoreRelatedThe Yellow Wallpaper829 Words   |  4 Pages The Yellow Wallpaper Charlotte Perkins Gilmans The Yellow Wallpaper first appeared in 1892 and became a notary piece of literature for it s historical and influential context. Gilmans The Yellow Wallpaper was a first hand account of the oppression faced toward females and the mentally ill,whom were both shunned in society in the late 1890s. It is the story of an unnamed woman confined by her doctor-husband to an attic nursery with barred windows and a bolted down bed. Forbidden to writeRead More The yellow wallpaper619 Words   |  3 Pages nbsp;nbsp;nbsp;nbsp;nbsp;The plot of â€Å"The Yellow Wallpaper† comes from a moderation of Charlotte Perkins Gilman’s personal experience. In 1887, just two years after the birth of her first child, Dr. Silas Weir Mitchell diagnosed Gilman with neurasthenia, an emotional disorder characterized by fatigue and depression. Mitchell decided that the best prescription would be a â€Å"rest cure†. Mitchell encouraged Gilman to â€Å"Live a domestic l ife as far as possible,† to â€Å"have two hours’ intellectual lifeRead MoreYellow Wallpaper1095 Words   |  5 Pagesand treatments played in reinforcing the prevailing, male-dominant gender roles through the subversion, manipulation and degrading of female experience through the use of medical treatments and power structures. Charlotte Perkins Gilman’s â€Å" The Yellow Wallpaper† is a perfect example of these themes. In writing this story, Charlotte Perkins Gilman drew upon her own personal experiences with hysteria. The adoption of the sick-role was a product of-and a reaction against gender norms and all of the pressuresRead MoreYellow Wallpaper1673 Words   |  7 PagesSvetlana Kryzhanovskaya Prof. Grajeda ENC 3014-MidTerm Paper March 12, 2012 Structuralism amp; Feminist Theory ‘The Yellow Wallpaper’ written by Charlotte Gilman can be affectively analyzed from two schools of thought structuralism and feminist theory. Though structuralists’ deny the work of literature any connection to its author (it must be what it is, no underlying meaning) feminist theory must first and foremost be understood in its historical framework. By the turn of the century,Read MoreThe Yellow Wallpaper3202 Words   |  13 PagesEnglish 1302 22 November 2011 Main Character’s Outsider Theme In Charlotte Perkins Gilman’s â€Å"The Yellow Wallpaper†, the narrator, Jane, is struggling to deal with her depression that she is suffering in a confined room that her husband, John put her in. John believes that this will cure Jane and make her better from her depression. Instead, Jane is slowly losing herself within the yellow wallpaper in the room causing her to become insane. Jane is not able to express her feelings with her husbandRead MoreThe Yellow Wallpaper1362 Words   |  6 Pages â€Å"The Yellow Wallpaper† Charlotte Perkins Gilman â€Å"The Yellow Wallpaper† written by Charlotte Perkins Gilman is gothic psychological short story written in journal-style with first-person narrative. Other elements used in the story are symbols, irony, foreshadowing, and imagery. â€Å"The Yellow Wallpaper is about a woman who suffers from postpartum depression. Her husband, a physician, puts her on â€Å"rest cure of quiet and solitude.† (Wilson 278). This cure consisted of the narrator being confinedRead MoreThe Yellow Wallpaper1844 Words   |  8 PagesSarah Kreeger EngWr 301 Professor Bradford 21 July 2013 Short Story Analysis The Yellow Wallpaper: The Power of Society’s Views On the Care of Mental Patients â€Å"The Yellow Wallpaper† by Charlotte Perkins Gilman takes the form of journal entries of a woman undergoing treatment for postpartum depression. Her form of treatment is the â€Å"resting cure,† in which a person is isolated and put on bed rest. Her only social interaction is with her sister-in-law Jennie and her husband, John, who is alsoRead More The Yellow Wallpaper1466 Words   |  6 Pagesfeminist socialist and a realist novelist capture moments that make their readers rethink life and the world surrounding. Gilman’s â€Å"The Yellow Wallpaper† was first published in 1892, about a white middle-class woman who was confined to an upstairs room by her husband and doctor, the room’s wallpaper imprisons her and as well as liberates herself when she tears the wallpaper off at the end of the story. On the other hand, Crane’s 1893 Maggie: A Girl of the Streets is the realist account of a New York girlRead MoreThe Yellow Wallpaper961 Word s   |  4 Pages The Yellow Paper is a symbolic story written by Charlotte Perkins Gilman. It is a disheartening tale of a woman struggling to free herself from postpartum depression. This story gives an account of an emotionally and intellectual deteriorated woman who is a wife and a mother who is struggling to break free from her metal prison and find peace. The post-partum depression forced her to look for a neurologist doctor who gives a rest cure. She was supposed to have a strict bed rest. The woman livedRead Moreyellow wallpaper1165 Words   |  5 PagesIn the short story â€Å"The Yellow Wallpaper†, Charlotte Perkins Gilman, talks about a woman who is newly married and is a mother who is in depression. â€Å"The Yellow Wall-Paper† is written as the secret journal of a woman who, failing to relish the joys of marriage and motherhood, is sentenced to a country rest cure. Though she longs to write, her husband - doctor forbid it. The narrator feels trapped by both her husband and surroundings. The woman she sees behind the wallpaper is a symbol of herself and

Costs and Learning Objective free essay sample

What is the weeks economic profit for the Do Drop In? A. -$320. B. -$40. C. $280. D. $320. E. $1,050. 8. Which of the following statements about the marginal product of labour is correct? A. It may either rise or fall as more labour is used. B. It always rises as more labour is used. C. It always falls as more labour is used. D. There is no relationship between marginal product and labour. 9. What causes marginal cost to increase? A. The advantages of the division of labour. B. The fact that ATC increases. C. Raising marginal product. D. The law of diminishing returns. 0. Which of the following statements regarding average fixed costs is correct? A. They are constant since fixed costs are fixed. B. They are equal to average variable cost less average total cost. C. When graphed, they are a horizontal line. D. When graphed, they are a straight line which comes out of the origin. E. They fall continuously as output increases. 11. Which of the following is a variable cost? A. The leasehold cost of a building. B. Insurance on the factorys physical plant. C. Raw materials. D. The cost of a marketing research report. 12. What is the sum of total variable costs and total fixed costs? A. It is equal to the sum of average product and marginal product. B. It is the sum of all marginal costs. C. It is total cost. D. It is AVC times the quantity of output. 13. Can a firm earn an economic loss and an accounting profit at the same time? Explain. 14. What is meant by the term economic capacity? A. An output level where the firm is physically unable to increase output. B. The output level where average variable cost is at a minimum. C. The output level where average total cost is at a minimum. D. Total fixed costs are at a minimum. 5. Which of the following statements is correct if a firms capacity output increases from 300 to 600 and its total costs rise from $40,000 to $78,000? A. The firm is experiencing constant returns to scale. B. The firm is experiencing decreasing returns to scale. C. The firm is experiencing increasing returns to scale. D. The firms long-run average cost must have decreased but its sh ort-run average cost could have either decreased or increased. 16. The existence of both economies of scale and diseconomies of scale would have what effect on the LRAC curve? A. It would make it upward-sloping. B. It would make it downward-sloping. C. It would give it an inverse U shape. D. It would give it a U shape. E. It would make it horizontal. 17. All of the following, except one, are examples of pecuniary economies of scale. Which is the exception? A. A lower interest rate paid on money borrowed. B. The ability to sell the by-products of production. C. The ability to use specialized inputs such as a robotics assembly line. D. The ability to obtain lower prices by buying in bulk. 18. What is the shape of the LRAC curve for a firm enjoying diseconomies of scale? 19. Which of the following refers to the perfectly competitive firm? A. It is a price-maker. B. It is a price-taker. C. It might be either a price-maker or a price-taker. D. It is neither a price-maker nor a price-taker. 20. What is the term for the extra revenue derived from the sale of one more unit? A. Average revenue. B. Marginal revenue. C. Net revenue. D. Total revenue. 21. What is average revenue? A. The price multiplied by the quantity sold. B. The total revenue divided by the price. C. The extra revenue derived from the sale of one more unit. D. It is equal to the price in perfectly competitive markets. 22. What is break-even output? A. The output at which the total revenue just covers a firms total fixed cost. B. The output at which the total revenue just covers a firms total variable cost. C. The output at which the total revenue just covers a firms fixed and variable costs including normal profits. D. The output at which the firm is making zero normal profits. 23. Which of the following is the correct sequence of events following a decrease in demand for a product in a perfectly competitive market? A. A decrease in the price and in the total profits of the representative firm which causes new firms to enter the industry. B. A decrease in the price and in the total profits of the representative firm which causes firms to leave the industry. C. A decrease in the price but an increase in the total profits of the representative firm which causes new firms to enter the industry. D. An increase in the price but a decrease in the total profits of the representative firm which causes firms to leave the industry. 24. How is average revenue defined? A. It is the extra revenue derived from the sale of one more unit. B. It is the total revenue divided by the number of units sold. C. It is marginal revenue divided by the number of units sold. D. It is the sum of the marginal revenue of all units sold. 25. Which of the following markets provide the best example of a perfect competition? A. Automobile manufacturing. B. Restaurants. C. Oil refining. D. Wheat farming. 26. Explain why a perfectly competitive firm faces a horizontal demand curve? 27. Explain why average revenue is equal to marginal revenue for a perfectly competitive firm? 28. The supply curve for a perfectly competitive firm is that portion of its marginal cost curve that lies above its average variable cost curve. Explain why? Micro Review Quiz Test 2 Key 1. (p. 143)Â  When is marginal utility equal to zero? To see why this is the case, think about each purchase individually, and pick the item that will give you the highest MU/P. Reasoning in this way, you would make the following decisions: First dollar spent on a taco Second through fourth dollars spent on one taco and one burrito Fifth dollar spent on a taco Sixth and seventh dollars spent on a burrito Eighth through tenth dollars spent on one taco and one burrito After this allocation, the MU/P for each item is the same (and equal to 4). Difficulty: Difficult Learning Objective: 05-02 Derive a consumers purchasing rule that ensures satisfaction is maximized. Sayre Chapter 05 #130 Source: Text Topic: Optimal Purchasing Rule Type: Computation Type: Pickup Below are some financial data for the Do Drop In convenience store. The owners have put $40,000 into the business and they worked a total of 80 hours during the week. Savings accounts are currently paying 5. 2% interest and the going wage rate is $8 per hour. Sayre Chapter 06 7. (p. 182)Â  Refer to the information above to answer this question. What is the weeks economic profit for the Do Drop In? A. -$320. B. -$40. C. $280. D. $320. E. $1,050. Difficulty: Easy Learning Objective: 06-01 Understand how and why economists measure costs differently from how accountants do and distinguish between the accountants and economists views of profits. Sayre Chapter 06 #10 Source: Text Topic: Explicit and Implicit Costs Type: Computation Type: Pickup 8. (p. 185)Â  Which of the following statements about the marginal product of labour is correct? A. It may either rise or fall as more labour is used. B. It always rises as more labour is used. C. It always falls as more labour is used. D. There is no relationship between marginal product and labour. Difficulty: Easy Learning Objective: 06-02 Understand the crucial relationship between productivity and costs. Sayre Chapter 06 #23 Source: Text Topic: Theory of Production Type: Comprehension Type: Pickup 9. (p. 194)Â  What causes marginal cost to increase? A. The advantages of the division of labour. B. The fact that ATC increases. C. Raising marginal product. D. The law of diminishing returns. Difficulty: Easy Learning Objective: 06-04 List and graph the seven specific cost definitions used by economists. Sayre Chapter 06 #75 Source: Text Topic: Total Costs and Average Total Costs Type: Comprehension Type: Pickup 10. (p. 193)Â  Which of the following statements regarding average fixed costs is correct? A. They are constant since fixed costs are fixed. B. They are equal to average variable cost less average total cost. C. When graphed, they are a horizontal line. D. When graphed, they are a straight line which comes out of the origin. E. They fall continuously as output increases. Difficulty: Easy Learning Objective: 06-04 List and graph the seven specific cost definitions used by economists. Sayre Chapter 06 #84 Source: Text Topic: Total Costs and Average Total Costs Type: Comprehension Type: Pickup 11. (p. 190)Â  Which of the following is a variable cost? A. The leasehold cost of a building. B. Insurance on the factorys physical plant. C. Raw materials. D. The cost of a marketing research report. Difficulty: Easy Learning Objective: 06-03 Understand the important difference between fixed costs and variable costs. Sayre Chapter 06 #86 Source: Text Topic: Marginal and Variable Costs Type: Computation Type: Pickup 12. (p. 202)Â  What is the sum of total variable costs and total fixed costs? A. It is equal to the sum of average product and marginal product. B. It is the sum of all marginal costs. C. It is total cost. D. It is AVC times the quantity of output. Difficulty: Easy Learning Objective: 06-04 List and graph the seven specific cost definitions used by economists. Sayre Chapter 06 #119 Source: Study Guide Topic: Total Costs and Average Total Costs Type: Definition Type: Pickup 13. (p. 182-183)Â  Can a firm earn an economic loss and an accounting profit at the same time? Explain. Accounting profit is equal to total revenue less explicit cost and economic profits is equal to total revenue less implicit cost and explicit cost. Suppose the firm is earning an accounting profit. If implicit cost is greater than accounting profit, there will be an economic loss. Difficulty: Easy Learning Objective: 06-05 Explain the meaning of increasing productivity and cutting costs. Sayre Chapter 06 #158 Source: Text Topic: Explicit and Implicit Costs Type: Comprehension Type: Pickup 14. (p. 210)Â  What is meant by the term economic capacity? A. An output level where the firm is physically unable to increase output. B. The output level where average variable cost is at a minimum. C. The output level where average total cost is at a minimum. D. Total fixed costs are at a minimum. Difficulty: Easy Learning Objective: 07-02 Understand why medium-sized firms are sometimes just as efficient as big firms. Sayre Chapter 07 #3 Source: Text Topic: Constant Returns to Scale Type: Definition Type: Pickup 15. (p. 213)Â  Which of the following statements is correct if a firms capacity output increases from 300 to 600 and its total costs rise from $40,000 to $78,000? A. The firm is experiencing constant returns to scale. B. The firm is experiencing decreasing returns to scale. C. The firm is experiencing increasing returns to scale. D. The firms long-run average cost must have decreased but its short-run average cost could have either decreased or increased. Difficulty: Easy Learning Objective: 07-03 Understand why big firms sometimes enjoy great cost advantages. Sayre Chapter 07 #17 Source: Text Topic: Economies of Scale Type: Definition Type: Pickup 16. (p. 218)Â  The existence of both economies of scale and diseconomies of scale would have what effect on the LRAC curve? A. It would make it upward-sloping. B. It would make it downward-sloping. C. It would give it an inverse U shape. D. It would give it a U shape. E. It would make it horizontal. Difficulty: Easy Learning Objective: 07-06 Explain what is meant by the right size of firm. Sayre Chapter 07 #46 Source: Text Topic: What is the Right Size of Firm? Type: Comprehension Type: Pickup 17. (p. 224)Â  All of the following, except one, are examples of pecuniary economies of scale. Which is the exception? A. A lower interest rate paid on money borrowed. B. The ability to sell the by-products of production. C. The ability to use specialized inputs such as a robotics assembly line. D. The ability to obtain lower prices by buying in bulk. Difficulty: Easy Learning Objective: 07-03 Understand why big firms sometimes enjoy great cost advantages. Sayre Chapter 07 #75 Source: Study Guide Topic: Economies of Scale Type: Comprehension Type: Pickup 18. (p. 215)Â  What is the shape of the LRAC curve for a firm enjoying diseconomies of scale? The long-run average cost curve is upward-sloping when the firm is experiencing diseconomies of scale; an increase in output will lead to an increase in the average cost. Difficulty: Easy Learning Objective: 07-04 Understand why firms can sometimes be too big. Sayre Chapter 07 #120 Source: Text Topic: Why Firms can be too Big Type: Comprehension Type: Pickup 19. (p. 232)Â  Which of the following refers to the perfectly competitive firm? A. It is a price-maker. B. It is a price-taker. C. It might be either a price-maker or a price-taker. D. It is neither a price-maker nor a price-taker. Difficulty: Easy Learning Objective: 08-02 Explain what is meant by perfect competition and the market system. Sayre Chapter 08 #6 Source: Text Topic: Perfect Competition and the Market System Type: Definition Type: Pickup 20. (p. 239)Â  What is the term for the extra revenue derived from the sale of one more unit? A. Average revenue. B. Marginal revenue. C. Net revenue. D. Total revenue. Difficulty: Easy Learning Objective: 08-03 Use two approaches to explain how a firm might maximize its profits. Sayre Chapter 08 #12 Source: Text Topic: The Competitive Industry and Firm Type: Definition Type: Pickup 21. (p. 238)Â  What is average revenue? A. The price multiplied by the quantity sold. B. The total revenue divided by the price. C. The extra revenue derived from the sale of one more unit. D. It is equal to the price in perfectly competitive markets. Difficulty: Easy Learning Objective: 08-03 Use two approaches to explain how a firm might maximize its profits. Sayre Chapter 08 #13 Source: Text Topic: The Competitive Industry and Firm Type: Definition Type: Pickup 22. (p. 239)Â  What is break-even output? A. The output at which the total revenue just covers a firms total fixed cost. B. The output at which the total revenue just covers a firms total variable cost. C. The output at which the total revenue just covers a firms fixed and variable costs including normal profits. D. The output at which the firm is making zero normal profits. Difficulty: Easy Learning Objective: 08-03 Use two approaches to explain how a firm might maximize its profits. Sayre Chapter 08 #26 Source: Text Topic: The Competitive Industry and Firm Type: Definition Type: Pickup 23. (p. 254)Â  Which of the following is the correct sequence of events following a decrease in demand for a product in a perfectly competitive market? A. A decrease in the price and in the total profits of the representative firm which causes new firms to enter the industry. B. A decrease in the price and in the total profits of the representative firm which causes firms to leave the industry. C. A decrease in the price but an increase in the total profits of the representative firm which causes new firms to enter the industry. D. An increase in the price but a decrease in the total profits of the representative firm which causes firms to leave the industry. Difficulty: Easy Learning Objective: 08-06 Explain the effect of a change in market demand or market supply on both the industry and the firm. Sayre Chapter 08 #100 Source: Text Topic: The Industry Demand and Supply Type: Comprehension Type: Pickup 24. (p. 260)Â  How is average revenue defined? A. It is the extra revenue derived from the sale of one more unit. B. It is the total revenue divided by the number of units sold. C. It is marginal revenue divided by the number of units sold.