Isaac Asimovs The Naked Sun :: essays research papers

Isaac Asimov's The Naked Sun When the ship stopped Elijah remained on his seat. Then he looked away and saw Daneel Olivaw, he is a robot that look like a man. After Elijah Bailey went in an air-tube, a robot was in charge of the trip of Elijah, his serial number is RX-2475. When the trip in the air-tube ended, Bailey received information about Solaria and he learned that the population on the planet is 20000 people and 200000000 robots in a territory of 30000000 square miles. He then felt the need to see outside the ground-car. He asked the robot if that car was convertible and the robot said yes but the robot didn’t want to open the ground-car window and he started to say the rules of the robot which are that a robot may not injure a human being or allow a human being to be harmed and a robot must obey to the orders given by human beings except if they are in conflict with the first law and a robot must protect himself as long as this law does not conflict with the first or the second law. Then Bailey op ened the ground-car window and Bailey lost all sensations.When Elijah Bailey woke up, the robot Daneel told him that he suffered harm. Both were 6 minutes away from their destination. Then Bailey wanted to go outside but the robot told him that it will be unnecessary to work outside. They arrived and he saw the home and taught that they are too many rooms in the house. Bailey asked how many people will be in the house, and Daneel said the there will be him, Daneel, and some robots. And Bailey learned that this house was built for him and that this house will be destroyed when he will go back to earth. Later, Elaijah met Hannis Gruer to talk. Hannis explained to Elijah some details about the crime that happened on the planet Solaria. The profession of the human that was murdered was fetologist and his wife name was Gladia. When the meeting ended Hannis rose and left then Bailey noticed that Hannis was never here, he was a trimensional image of the real Hannis. Then Bailey wanted to e at and he learned from Daneel that there was 50 robots on the house. After dinner Bailey went in his bed and thought that the bedroom was too large.

Slaying the Dragon :: essays research papers

Slaying the Dragon gave the audience a look inside the world of Asian actresses. The entertainment industry is very different for women of Asian descent. I never realized how difficult it was for these women in the earlier years of the film industry. Even today, when asked to name famous Asian actresses, I had a hard time thinking of more than two or three.   Ã‚  Ã‚  Ã‚  Ã‚  The Asian women interviewed in this film spoke candidly about their experiences in the entertainment industry. This film shows a comprehensive look at media stereotypes of Asia and Asian American women since the silent era. One point that the film brought up was that many white women played Asian women in early Hollywood films. One actress who frequently played an Asian woman was Katherine Hepburn. I can’t imagine how insulted I would be if I was an Asian actress who was losing roles to an American woman.   Ã‚  Ã‚  Ã‚  Ã‚  The movie also showed the successes of Anna May Wong’s sinister dragon lady, Suzie Wong and the ’50s geisha girls and the Asian-American anchorwoman of today. One of the anchorwomen who was interviewed spoke about the stereotypes of exoticism and docility that have affected the perception of Asian-American women. She spoke about how her boss didn’t like when she stood up for herself and made radical decisions to cut her hair.   Ã‚  Ã‚  Ã‚  Ã‚  The stereotypes for Asians are never ended; generally we assume that they are quiet, smart, good in math and science and passive. This movie tried to devour these stereotypes and give the audience an inside look into the minds of the Asian women interviewed. I have a good friend from high school who is Korean and having grown up with her, I have watched her struggle with acceptance and trying to overcome these horrible stereotypes. When we reached our junior year in high school and began looking at colleges, she decided that she wanted to attend a college where she wouldn’t be one of the only Asian girls. Growing up in a small rural community, she often felt like an outcat in our white high school. She is now attending SUNY Buffalo and is very happy that she is in a more diverse community. Slaying the Dragon :: essays research papers Slaying the Dragon gave the audience a look inside the world of Asian actresses. The entertainment industry is very different for women of Asian descent. I never realized how difficult it was for these women in the earlier years of the film industry. Even today, when asked to name famous Asian actresses, I had a hard time thinking of more than two or three.   Ã‚  Ã‚  Ã‚  Ã‚  The Asian women interviewed in this film spoke candidly about their experiences in the entertainment industry. This film shows a comprehensive look at media stereotypes of Asia and Asian American women since the silent era. One point that the film brought up was that many white women played Asian women in early Hollywood films. One actress who frequently played an Asian woman was Katherine Hepburn. I can’t imagine how insulted I would be if I was an Asian actress who was losing roles to an American woman.   Ã‚  Ã‚  Ã‚  Ã‚  The movie also showed the successes of Anna May Wong’s sinister dragon lady, Suzie Wong and the ’50s geisha girls and the Asian-American anchorwoman of today. One of the anchorwomen who was interviewed spoke about the stereotypes of exoticism and docility that have affected the perception of Asian-American women. She spoke about how her boss didn’t like when she stood up for herself and made radical decisions to cut her hair.   Ã‚  Ã‚  Ã‚  Ã‚  The stereotypes for Asians are never ended; generally we assume that they are quiet, smart, good in math and science and passive. This movie tried to devour these stereotypes and give the audience an inside look into the minds of the Asian women interviewed. I have a good friend from high school who is Korean and having grown up with her, I have watched her struggle with acceptance and trying to overcome these horrible stereotypes. When we reached our junior year in high school and began looking at colleges, she decided that she wanted to attend a college where she wouldn’t be one of the only Asian girls. Growing up in a small rural community, she often felt like an outcat in our white high school. She is now attending SUNY Buffalo and is very happy that she is in a more diverse community.

King Lear Imagery

The seemingly loving and honest sisters, Generic and Reagan, and Starr son, Edmund, are In reality; evil, uncaring, deceitful beings, and clothing that symbolizes who a person Is, Is simply only an Illusion. Early on in the play, Learns two daughters, Generic and Reagan, appear to be very caring and are loving towards him, but with animal Imagery, their true nature is shown. When Lear tells his three daughter to profess their love to him (when he is dividing the kingdom) Generic and Reagan speak words of love and affection such as † Sir, I love you more than word can wield the matter,†¦ Beyond what can be valued, rich or rare,†¦ , when In reality, they do not possess the feelings they claim they have. Their appearance is that they are sincere, loyal and charming but the reality is the opposite. The two sister lie to their father to get what they want. They say what they know he wants to hear. It is only after Generic tries to force Lear to get rid of his men when he f inally starts to realism how uncaring they are. Lear even calls Generic a â€Å"Detested kite! â€Å", and that Is in fact what she is. Her and her sister lied and faked emotion to benefit them, â€Å"fed† off Lear as a vulture would to It's prey.Further Into the play, Lear completely realizes his daughters true evil nature, â€Å"†¦ How sharper than a serpent's tooth it is to have a thankless child. â€Å", again referring to them as unpleasant, vile animals. They took advantage of their father who was blinded by his ego to see the reality of who his daughters were. He mistook Generic and Reagan as the loving daughters, and Cornelia as the unloving one. Just because Cornelia did not play Learns love game, she was seen as the uncaring child. The reality of the daughters nature was swapped.These uses of animal Imagery help show what the woo, seemingly loving and affectionate sisters are actually Like. Deceitful, and cruel. Another way that the play shows false appeara nce is with clothing imagery. If a person wears extravagant, well-made clothing he is thought to be high society and is well respected. On the contrary, someone who wears ragged clothing is seen as useless, unimportant, and of low society. Lear was seen as powerful and respected, he was In fact the King, and wore luxurious robes and a fancy crown. In reality, he was not an intelligent man who was as powerful as he perceived himself to be.His loathing gave him that appearance, the illusion of power. When he had nothing, no kingdom, power, authority, or shelter, he still had the clothing, but he realizes that it now means nothing, â€Å"Through tattered clothes great vices do appear;' Robes and furred gowns hide all. Plate sin with gold,†¦ â€Å". In this quote Lear Is saying that poor people may appear to have weaker characters, but people Like him have this clothing clothing portray certain expected qualities of the wearer. Edgar, the son of Gloucester, knew of these societal perceptions and used them to his advantage.His Starr brother, Edmund, forges a letter of him plotting to kill his father. When his father learns of his apparent plan, he seeks to kill Edgar. To keep from being found and killed Edgar disguises himself as a Bedlam beggar, â€Å"†¦ Brought near to beast. My face I'll grime with filth,] Blanket my loins, elf all my hair in knots,] And with presented nakedness outface/ The winds and persecutions of the sky. † Since he drastically altered his appearance, and removed his clothes that represented who he is, no one will recognize and be able to kill him. This imagery shows Just how important and influential the clothing they wear are.Society associates specific appearances to specific people. If you have the look, you are what the look signifies. An illusion of importance or unimportance can be made depending on what clothes are draped. This imagery again explores the theme of appearance verses reality and shows the reader what reality is underneath the appearance. As well as the previous types of imagery enhanced the central theme, eye imagery is perhaps the most prominent. Eyes are what literally see what happens. It would be presumed that one could see the reality when it is happening before their eyes, but n King Lear this was not the case.As mentioned before, Generic and Reagan were also reality twisting children who deceived their father. Eye imagery is used to help covey the message that Lear is finally seeing the reality of his daughters when he says, â€Å"Pierce every sense thee! / Old fond eyes J Between this cause again, I'll pluck ye out. And cast you with the waters that you loose/ To temper clay. ‘ Yea, isn't come to this? Ha! Let it be so, I have another daughter/ Who I am sure is kind and comfortable. † He now has the idea that Generic and Reagan are the daughters that do not care for him, ND that it is, in fact, Cornelia that truly loves him.Edmund appears to all as a fine yo ung gentleman who is loyal and brave. In reality, Edmund is a cunning, devious, opportunist who will stop at nothing to please himself. Gloucester and many others are tricked by Edmunds appearance. What Gloucester does not see or refuse to see, is the hatred Edmund has for him because of his cavalier treatment of him. Edmund wants all control of Gloucester money and power. He fools both Edgar and Gloucester, destroying both of them, and turns them against each other. Only when Gloucester loses his physical sight does he see the reality of his two sons, â€Å"O my follies!Then Edgar was abused. Kind gods forgive me that, and prosper him! â€Å". He is told that Edmund was the one who ratted him out and that Edgar, all along, wasn't plotting to kill him. What appeared to him was Edmund was the honorable one and Edgar was the one turning against him, when in reality, it was the other way around. This type of imagery shows that what is seen is not always what it appears to be. These c haracters acted in a manner that made them appear to be who they are not, and even with sight, the reality was not seen immediately.To conclude, Shakespeare effectively used imagery in King Lear to help emphasis his theme of appearance verses reality, and how things are not always what they appear to be. The use of animal imagery to portray the true nature of the two and eye imagery of how things that can be physically seen, are not always what they appear to be, all further prove that reality can be completely different from the appearance. At first glance or impression, something can seem totally different than it's reality. Sometimes in order to see the truth, it takes more than Just seeing and believing what is right before your eyes.

Decision making Essay

The time taken by the organization in making decision is quite varied and cannot be correctly determined as the nature of the problem and other variables that can never be determined nor controlled easily have a great bearing on the total time (Curan & Mitchell, 2001). The nature of the organization and the kind of decision to be made also have a bearing on the time taken. It time critical decision making the aspects of time is important and the challenge thus lies in coming up with sound decision within limited time (Curan & Mitchell, 2001). Most theories adopted in decision making leave out the time taken in selection of actions which is often considerable in organizations where the decisions are viewed differently by constituent members (Curan & Mitchell, 2001). Coming up with a solution that are made without consideration of a well carried out problem solving session could lead to solutions that lack in operational significance, thus any decision making should be aimed at finding the solution that is either associated with the least cost or most returns of the total costs (Curan & Mitchell, 2001). In coming up with the cost, organizations must include the cost and effort taken in thinking and coming up with a plan or a policy in determination of the time taken in decision making. The problem with time considerations is that complex problems may hinder the development of best solutions (Spezzano & Mertens, 1999). In some instances, coming up with the best solutions could be within organizations grasp but the cost associated with such may not be acceptable to the organization. The organizational structure plays a great role in the speed of the decision making process (Spezzano & Mertens, 1999). A structure whereby all members of the organization have to be involved is time consuming (Kaplinsky, 2007). Such an approach is inclusive and the decisions made from this approach are more likely to meet both the needs and wants of the organization. The implementation of such policies is often smooth as those charged with the responsibility of carrying out the policies are well aware of the good and thus have the motivation required for the implementation. The tread off in this approach is the time taken; the approach requires organization wide consultation and is time intensive. Getting the opinion of each and everyone in a medium or large organization and coming upon with a decision based on their varied views can be demanding on an organization’s financial resources and time. Most organizations have adopted a mechanism where the executives and top managers exclusively take part in the formulation of the policies. Such an approach is time conscious and often leads to timely formulation of policies. Despite this, the relevance of the policies to the needs of the organization is brought into question as the people charged with the responsibility of implementation are not included in the formulation. Policies implemented through this mechanism often address what the organization wants rather than what it needs since organizations are best known by the people charged with the duty of policy implementation. Deciding on the correct approach is thus complicated as both time and relevance of decisions are very important, moreover, company heads have in a number of occasions made decisions that have turned out to be for the good of organizations without necessarily involving everyone, this complicates the issue even further. Therefore, organizations have to consider all the factors inherent of their organization that affect the decision making effort and thus the cost of decision making associated with each approach before deciding on whether to buy or build Automated office systems support.

Monopoly and marginal cost Essay

Practice Questions and Answers from Lesson III-3: Monopoly Practice Questions and Answers from Lesson III-3: Monopoly The following questions practice these skills: ? Explain the sources of market power. ? Apply the quantity and price affects on revenue of any movement along a demand curve. ? Find the profit maximizing quantity and price of a single-price monopolist. ? Compute deadweight loss from a single-price monopolist. ? Compute marginal revenue. ? Define the efficiency of P = MC. ? Find the profit-maximizing quantity and price of a perfect-price-discriminating monopolist. ? Find the profit-maximizing quantity and price of an imperfect-price-discriminating monopolist. Question: Each of the following firms possesses market power. Explain its source. a. Merck, the producer of the patented cholesterol-lowering drug Zetia b. Chiquita, a supplier of bananas and owner of most banana plantations c. The Walt Disney Company, the creators of Mickey Mouse Answer to Question: a. Merck has a patent for Zetia. This is an example of a government-created barrier to entry, which gives Merck market power. b. Chiquita controls most banana plantations. Control over a scarce resource gives Chiquita market power. c. The Walt Disney Company has the copyright over animations featuring Mickey Mouse. This Is another example of a government-created barrier to entry that gives the Walt Disney Company market power. Question: Skyscraper City has a subway system, for which a one-way fare is $1. 50. There is pressure on the mayor to reduce the fee by one-third, to $1. 00. The mayor is dismayed, thinking that this will mean Skyscraper City is losing one-third of its revenue from sales of subway tickets. The mayor’s economic adviser reminds her that she is focusing only on the price effect and ignoring the quantity effect. Explain why the mayor’s estimate of a one-third loss of revenue is likely to be an overestimate. Illustrate with a diagram. Answer to Question: A reduction in fares from $1. 50 to $1. 00 will reduce the revenue on each ticket that is currently sold by one-third; this Is the price effect. But a reduction in price will lead to more tickets being sold at the lower price of $1. 00, which creates additional revenue; this is the quantity effect. The price effect is the loss of revenue on all the currently sold tickets. The quantity effect is the increase in revenue from increased sales as a result of the lower price. Question: Consider an industry with the demand curve (D) and marginal cost curve (MC) shown in the accompanying diagram. There is no fixed cost. If the industry is a single-price monopoly, the monopolist’s marginal revenue curve would be MR. Answer the following questions by naming the appropriate points or areas. Practice Questions and Answers from Lesson III-3: Monopoly a. If the industry is perfectly competitive, what will be the total quantity produced? At what price? b. Which area reflects consumer surplus under perfect competition? c. If the industry is a single-price monopoly, what quantity will the monopolist produce? Which price will it charge? d. Which area reflects the single-price monopolist’s profit? e. Which area reflects consumer surplus under single-price monopoly? f. Which area reflects the deadweight loss to society from single-price monopoly? g. If the monopolist can price-discriminate perfectly, what quantity will the perfectly price-discriminating monopolist produce? Answer to Question: a. In a perfectly competitive industry, each firm maximizes profit by producing the quantity at which price equals marginal cost. That is, all firms together produce a quantity S, corresponding to point R, where the marginal cost curve crosses the demand curve. Price will be equal to marginal cost, E. b. Consumer surplus is the area under the demand curve and above price. In part a, we saw that the perfectly competitive price is E. Consumer surplus in perfect competition is therefore the triangle ARE. c. A single-price monopolist produces the quantity at which marginal cost equals marginal revenue, that is, quantity I. Accordingly, the monopolist charges price B, the highest price it can charge if it wants to sell quantity I. d. The single-price monopolist’s profit per unit is the difference between price and the average total cost. Since there is no fixed cost and the marginal cost is constant (each unit costs the same to produce), the marginal cost is the same as the average total cost. That is, profit per unit is the distance BE. Since the monopolist sells I units, its profit is BE times I, or the rectangle BEHF. e. Consumer surplus is the area under the demand curve and above the price. In part c, we saw that the monopoly price is B. Consumer surplus in monopoly is therefore the triangle AFB. f. Deadweight loss is the surplus that would have been available (either to consumers or producers) under perfect competition but that is lost when there is a single-price monopolist. It is the triangle FRH. g. If a monopolist can price-discriminate perfectly, it will sell the first unit at price A, the second unit at a slightly lower price, and so forth. That is, it will extract from each consumer just that consumer’s willingness to pay, as indicated by the demand curve. It will sell S units, because for the last unit, it can just make a consumer pay a price of E (equal to its marginal cost), and that just covers its marginal cost of producing that last unit. For any further units, it could not make any consumer pay more than its marginal cost, and it therefore stops selling units at quantity S. Practice Questions and Answers from Lesson III-3: Monopoly Question: Bob, Bill, Ben, and Brad Baxter have just made a documentary movie about their basketball team. They are thinking about making the movie available for download on the Internet, and they can act as a single-price monopolist if they choose to. Each time the movie is downloaded, their Internet service provider charges them a fee of $4. The Baxter brothers are arguing about which price to charge customers per download. The accompanying table shows the demand schedule for their film. Price of download Quantity of downloads demanded $10 0 $8 1 $6 3 $4 6 $2 10 $0 15 a. Calculate the total revenue and the marginal revenue per download. b. Bob is proud of the film and wants as many people as possible to download it. Which price would he choose? How many downloads would be sold? c. Bill wants as much total revenue as possible. Which price would he choose? How many downloads would be sold? d. Ben wants to maximize profit. Which price would he choose? How many downloads would be sold? e. Brad wants to charge the efficient price. Which price would he choose? How many downloads would be sold? Answer to Question: a. The accompanying table calculates total revenue (TR) and marginal revenue (MR). Recall that marginal revenue is the additional revenue per unit of output Price of download Quantity of downloads TR MR demanded $10 0 $0 $8 1 $8 $8 $6 3 $18 $5 $4 6 $24 $2 $2 10 $20 $-1 $0 15 $0 $-4 b. Bob would charge $0. At that price, there would be 15 downloads, the largest quantity they can sell. c. Bill would charge $4. At that price, total revenue is greatest ($24). At that price, there would be 6 downloads. d. Ben would charge $6. At that price, there would be 3 downloads. For any more downloads, marginal revenue would be below marginal cost, and so further downloads would lose the Baxters’ money.e. Brad would charge $4. A price equal to marginal cost is efficient. At that price, there would be 6 downloads. Practice Questions and Answers from Lesson III-3: Monopoly Question: Suppose that De Beers is a single-price monopolist in the market for diamonds. De Beers has five potential customers: Raquel, Jackie, Joan, Mia, and Sophia. Each of these customers will buy at most one diamond—and only if the price is just equal to, or lower than, her willingness to pay. Raquel’s willingness to pay is $400; Jackie’s, $300; Joan’s, $200; Mia’s, $100; and Sophia’s, $0. De Beers’s marginal cost per diamond is $100. This leads to the demand schedule for diamonds shown in the accompanying table. Price of Diamond Quantity of Diamonds Demanded $500 0 $400 1 $300 2 $200 3 $100 4 $0 5 a. Calculate De Beers’s total revenue and its marginal revenue. From your calculation, draw the demand curve and the marginal revenue curve. b. Explain why De Beers faces a downward-sloping demand curve. c. Explain why the marginal revenue from an additional diamond sale is less than the price of the diamond. d. Suppose De Beers currently charges $200 for its diamonds. If it lowers the price to $100, how large is the price effect? How large is the quantity effect? e. Add the marginal cost curve to your diagram from part a and determine which quantity maximizes De Beers’s profit and which price De Beers will charge. Answer to Question: a. Total revenue (TR) and marginal revenue (MR) are given in the accompanying table. Price of Diamond Quantity of Diamonds TR Demanded $500 0 $0 $400 1 $400 $300 2 $600 $200 3 $600 $100 4 $400 $0 5 $0 MR $400 $200 $0 -$200 -$400 The accompanying diagram illustrates De Beers’s demand curve and marginal revenue (MR) curve. b. De Beers is the only producer of diamonds, so its demand curve is the market demand curve. And the market demand curve slopes downward: the lower the price, the more customers will buy diamonds. c. If De Beers lowers the price sufficiently to sell one more diamond, it earns extra revenue equal to the Practice Questions and Answers from Lesson III-3: Monopoly price of that one extra diamond. This is the quantity effect of lowering the price. But there is also a price effect: lowering the price means that De Beers also has to lower the price on all other diamonds, and that lowers its revenue. So the marginal revenue of selling an additional diamond is less than the price at which the additional diamond can be sold. d. If the price is $200, then De Beers sells to Raquel, Jackie, and Joan. If it lowers the price to $100, it will also sell a diamond to Mia. The price effect is that De Beers loses $100 (the amount by which it lowered the price) each from selling to Raquel, Jackie, and Joan. So the price effect lowers De Beers’s revenue by 3 ? $100 = $300. The quantity effect is that De Beers sells one more diamond (to Mia), at $100. So the quantity effect is to raise De Beers’s revenue by $100. e. The marginal cost (MC) curve is constant at $100, as shown in the diagram. Marginal revenue equals marginal cost at a quantity of 2 diamonds. So De Beers will sell 2 diamonds at a price of $300 each. Question: Use the demand schedule for diamonds given in the previous question. The marginal cost of producing diamonds is constant at $100. There is no fixed cost. a. If De Beers charges the monopoly price, how large is the individual consumer surplus that each buyer experiences? Calculate total consumer surplus by summing the individual consumer surpluses. How large is producer surplus? Suppose that upstart Russian and Asian producers enter the market and the market becomes perfectly competitive. b. What is the perfectly competitive price? What quantity will be sold in this perfectly competitive market? c. At the competitive price and quantity, how large is the consumer surplus that each buyer experiences? How large is total consumer surplus? How large is producer surplus? d. Compare your answer to part c to your answer to part a. How large is the deadweight loss associated with monopoly in this case? Answer to Question: a. The monopoly price is $300. At that price Raquel and Jackie buy diamonds. Raquel’s consumer surplus is $400 ? $300 = $100; Jackie’s is $300 ? $300 = $0. So total consumer surplus is $100 + $0 = $100. Producer surplus is $300 ? $100 = $200 for each diamond sold; 2 ? $200 = $400. b. In a perfectly competitive market, P = MC. That is, the perfectly competitive price is $100, and at that price 4 diamonds will be sold—to Raquel, Jackie, Joan, and Mia. c. At the competitive price, Raquel’s consumer surplus is $400 ? $100 = $300; Jackie’s, $300 ? $100 = $200; Joan’s, $200 ? $100 = $100; and Mia’s, $100 ? $100 = $0. So total consumer surplus is $300 + $200 + $100 + $0 = $600. Since the price is equal to marginal cost, there is no producer surplus. d. Under perfect competition, the sum of consumer and producer surplus is $600 + $0 = $600. Under monopoly, the sum of consumer and producer surplus is $100 + $400 = $500. So the loss of surplus to society from monopoly—the deadweight loss—is $600 ? $500 = $100. Question: Use the demand schedule for diamonds given in the previous questions. De Beers is a monopolist, but it can now price-discriminate perfectly among all five of its potential customers. De Beers’s marginal cost is constant at $100. There is no fixed cost. a. If De Beers can price-discriminate perfectly, to which customers will it sell diamonds and at what prices? b. How large is each individual consumer surplus? How large is total consumer surplus? Calculate producer surplus by summing the producer surplus generated by each sale. Practice Questions and Answers from Lesson III-3: Monopoly Answer to Question: a. If De Beers can price-discriminate perfectly, it will charge each customer that customer’s willingness to pay. That is, it will charge Raquel $400, Jackie $300, Joan $200, and Mia $100. De Beers does not want to sell to Sophia since she will only buy at a price of $0, and that would be below De Beers’s marginal cost. b. Since each consumer is charged exactly her willingness to pay, there is no consumer surplus. De Beers’s producer surplus is $400 ? $100 = $300 from selling to Raquel; $300 ? $100 = $200 from selling to Jackie; $200 ? $100 = $100 from selling to Joan; $100 ? $100 = $0 from selling to Mia. So producer surplus is $300 + $200 + $100 + $0 = $600. Question: Download Records decides to release an album by the group Mary and the Little Lamb. It produces the album with no fixed cost, but the total cost of downloading an album to a CD and paying Mary her royalty is $6 per album. Download Records can act as a single-price monopolist. Its marketing division finds that the demand schedule for the album is as shown in the accompanying table. Price of album Quantity of albums demanded $22 0 $20 1,000 $18 2,000 $16 3,000 $14 4,000 $12 5,000 $10 6,000 $8 7,000 a. Calculate the total revenue and the marginal revenue per album. b. The marginal cost of producing each album is constant at $6. To maximize profit, what level of output should Download Records choose, and which price should it charge for each album? c. Mary renegotiates her contract and now needs to be paid a higher royalty per album. So the marginal cost rises to be constant at $14. To maximize profit, what level of output should Download Records now choose, and which price should it charge for each album? Answer to Question: a. Total revenue (TR) and marginal revenue per album (MR) is shown in the following table: Price of album Quantity of albums TR MR demanded $22 0 $0 $20 1,000 $20,000 $20 $18 2,000 $36,000 $16 $16 3,000 $48,000 $12 $14 4,000 $56,000 $8 $12 5,000 $60,000 $4 $10 6,000 $60,000 $0 $8 7,000 $56,000 -$4 b. If the marginal cost of each album is $6, Download Records will maximize profit by producing 4,000 albums, since for each album up to 4,000, marginal revenue is greater than marginal cost. For any further albums, marginal cost would exceed marginal revenue. Producing 4,000 albums, Download Records will charge $14 for each album. c. If the marginal cost of each album is $14, Download Records will maximize profit by producing 2,000 albums, and it will charge $18 per album. Practice Questions and Answers from Lesson III-3: Monopoly Question: The movie theater in Collegetown serves two kinds of customers: students and professors. There are 900 students and 100 professors in Collegetown. Each student’s willingness to pay for a movie ticket is $5. Each professor’s willingness to pay for a movie ticket is $10. Each will buy at most one ticket. The movie theater’s marginal cost per ticket is constant at $3, and there is no fixed cost. a. Suppose the movie theater cannot price-discriminate and needs to charge both students and professors the same price per ticket. If the movie theater charges $5, who will buy tickets and what will the movie theater’s profit be? How large is consumer surplus? b. If the movie theater charges $10, who will buy movie tickets and what will the movie theater’s profit be? How large is consumer surplus? c. Now suppose that, if it chooses to, the movie theater can price-discriminate between students and professors by requiring students to show their student ID. If the movie theater charges students $5 and professors $10, how much profit will the movie theater make? How large is consumer surplus? Answer to Question: a. If the movie theater charges $5 per ticket, both students and professors will buy tickets. The movie theater will sell to 1,000 customers (students and professors), at a price of $5 each. Since the movie theater’s cost per ticket is $3, its profit is $2 per ticket for a total profit of 1,000 ? $2 = $2,000. Students will experience no consumer surplus, but each of the 100 professors will experience consumer surplus of $10 ? $5 = $5 for a total consumer surplus of 100 ? $5 = $500. b. If the movie theater charges $10 per ticket, only professors will buy tickets. The movie theater will sell to 100 customers (professors) at a price of $10 each. Since the movie theater’s cost per ticket is $3, its profit is $7 per ticket for a total profit of 100 ? $7 = $700. Students experience no consumer surplus since they do not buy any tickets. Each of the 100 professors experiences no consumer surplus since the price is equal to their willingness to pay. So consumer surplus is $0. c. If the movie theater charges students a price of $5, it sells 900 tickets at a profit of $5 ? $3 =$2 each for a profit from selling to students of 900 ? $2 =$1,800. Charging professors $10, it sells 100 tickets at a profit of $10 ? $3 =$7 each for a profit from selling to professors of 100 ? $7 =$700. So the theater’s total profit is $1,800 + $700 =$2,500. Since each customer is charged exactly his or her willingness to pay, there is no consumer surplus. Question: A monopolist knows that in order to expand the quantity of output it produces from 8 to 9 units that it must lower the price of its output from $2 to $1. Calculate the quantity effect and the price effect. Use these results to calculate the monopolist’s marginal revenue of producing the 9th unit. The marginal cost of producing the 9th unit is positive. Is it a good idea for the monopolist to produce the 9th unit? Answer to Question: The quantity effect is $1 (the increase in total revenue from selling the 9th unit at $1). The price effect is 8 ? (? $1) =? $8 (the decrease in total revenue from having to lower the price of 8 units by $1 each). So the marginal revenue of producing the 9th unit is $1 ? $8 =? $7. Since marginal revenue is negative, producing the 9th unit is definitely not a good idea: it lowers revenue (since marginal revenue is negative), and it increases the total cost (since marginal cost is positive). So it will definitely lower profit. Instead, the monopolist should produce less output.

Summary of an article Essay Example | Topics and Well Written Essays - 250 words - 11

Summary of an article - Essay Example The Digital Immigrants however defines the older population that is introduced to the technology at their old age. Resistance and challenges of old age learning have been barriers to the digital immigrant’s knowledge of technology and they still rely on traditional techniques in their interactions with the young generation. The difference is significant to the education sector in which the Digital Natives are the learners while the Digital Immigrants are the educators. Reliance on traditional techniques for education has been ineffective and the Native’s negative attitude towards traditional methods explains this. On the contrary, the Natives, for example, prefer parallel initiatives and multi tasking. They also over rely on the digital media that influence their available time for learning and their approach to learning while the Immigrants have failed to adjust their approaches to the new environment of technology. The author proposes a shift by one generation to the other’s orientation but argues for ease of adjustment of the Digital Immigrant than of the Digital Natives. A change in methods of teaching and content are recommended for bridging the gap in education and ensuring effective learning in the diversified environment (Prensky

LITERATURE REVIEW Essay Example | Topics and Well Written Essays - 1500 words

LITERATURE REVIEW - Essay Example According to Gupta (2012), the systolic BP as well as the heart rate of old people is higher as compared to their counterparts who are in pre-retirement age. He attributes the above physiological characteristics to increased stress, anxiety, and depression amongst the old people. He argues that participation in cognitive activities could help old people counterweigh the physiological factors. Rockwood, Mitnitski and Rockwood (2010), did a research to test if deficit accumulation leads to loss of redundancy. They tested the relationship between age and FI-CGA. They found out that deficit accumulation decreases with increasing frailty, a state of helplessness arising due to old age. Nelson et al (2007) posit that the older people require to be engaged in exercise to improve their health as they age. Their report argues that America incurs a lot of cost treating the old people of diseases resulting from inactivity. They thus recommend inclusion of exercise programs for the old to help o ffset ailments such as cardiovascular complications, hypertension, diabetes, obesity, cancers such as of colon and breast. Additionally they argue that exercise helps reduce stress and depression, which trigger other diseases. Psychological Characteristics Loneliness, which is a common aspect characterizing the life of most old people is a major cause of many psychological as well as physiological problems. In most cases, loneliness contributes to depression, which is associated with declined cognitive capability particularly among the old people. Luanaigh & Lawlor (2008) suggest the need for research on possible interventions that could be used to decrease loneliness amongst the old. Dozeman et al (2009) suggest that old people, particularly those above 75 years are more vulnerable to depression. Their study on the prevalence of depressive symptoms across different ages showed that clinically related depressive symptoms are considerably high amongst the old people. They claim that such depressive symptoms are disadvantageous because they lead to reduced quality of life and make the old persons vulnerable to other conditions such as dysthymia. Sociological Characteristics According to Eliutina (2012), the problems faced by the old couples have received minimal attention by researchers. Their study showed that the number of old couples has decreased rapidly over the recent past due to increased death rate of men. After the death of their spouses, few widows choose to remarry due to fear of divorce. Additionally, the study revealed that old couples are often despised by the society and are given minimal attention. The old thus end up suffering of depression. The old couples are also likely to face individual differences among themselves, which call for the need for sociopsychological support programs to help the old people. Since most old people suffer from physiological as well as psychological problems, there is need for establishment of social programs such a s physical fitness programs to aid the old persons in the society (Meadows, Marechal & Catalan, 1998). Current Health and Activity Status When people get older, they become frail and dependent. Gurina, Frolova & Degryse (2011) categorize the health problems facing the old people. T