Wednesday, January 29, 2020
Life Cycle Costing Essay Example for Free
Life Cycle Costing Essay It expects the new products to have a life cycle of 3 years and the following costs have been estimated. Particulars| Year 0| Year 1| Year 2| Year 3| Units manufactured and sold| | 25,000| 100,000| 75,000| Price per unit| | ? 90| ? 80| ? 70| Research and Development Costs| ? 850,000| ? 90,000| | -| Production Costs| | | | | Variable cost per unit| | ? 30| ? 25| ? 25| Fixed costs| | ? 500,000| ? 500,000| ? 500,000| Marketing Costs| | | | | Variable cost per unit| | ? 5| ? 4| ? 3| Fixed Cost| | ? 300,000| ? 200,000| ? 200,000| Distribution Cost| | | | | Variable cost per unit| | ? 1| ? 1| ? 1| Fixed Cost| | ? 90,000| ? 190,000| ? 190,000| Customer service cost per unit| | ? 3| ? 2| ? 2| Required to calculate the cost per unit looking at the whole lifecycle and comment on the price to be charged. Question 3 Fjalar AS, a software company developing a new accounting package, â€Å"General Ledger†. The following are the budgeted amounts for General Ledger over a five-year product life cycle: Particulars| Year 1 2| Year 3 to 5| | | One-time set-up Cost| Cost per package| Research Development Cost| ? 240,000| | | Design Cost of process| ? 160,000| | | Production Cost| | ? 100,000| ? 25| Marketing Cost| | ? 0,000| ? 24| Distribution Cost| | ? 50,000| ? 16| Customer service Cost| | ? 80,000| ? 30| For strategic reasons, Fjalar AS have chosen to â€Å"skim the market†by charging higher price to customers eager to try General Ledger when it first comes out, and lower prices to customers who are willing to wait. The projected selling price per package and sales quantity in units is given below: Particulars| Year 3| Year 4| Year 5| Selling price per package| ? 600| ? 480| ? 400| Sales quantity in units| 5,000| 4,000| 2,500| You are required to calculate the life cycle c ost per unit and its operating profit.
Tuesday, January 21, 2020
A Comparison of Runes and Magic in Beowulf and in Anglo-Saxon England :: comparison compare contrast essays
Runes and Magic in Beowulf and in Anglo-Saxon England      In the Old English poem Beowulf we see the mention of runes, which were used with connotations of magic or charms. Examining evidence from historic times, we find that early Englishmen were fully conversant with the Germanic runic alphabet and that runes did have special connotations.  In Beowulf the hero is in deadly combat with Grendel’s mother in the mere. He is at the point of being killed by the monster when suddenly God shows to him the presence of a special sword nearby on the wall. Beowulf seizes the giant weapon and kills the monster. Then:                                                             that sword had begun to melt                    in battle-bloody icicles; that it melted away                   was as much a marvel as ice itself                               when the Father unwinds the bonds of frost,                    loosens the freezing chains of water,                       Who keeps the power of times and seasons;               He is the true God. . . . Already the sword                   had melted away, its blade had burned up;           too hot the blood of the poisonous spirit              who had died within. . . . the wave-sword burned up,     quenched in that blood. . . . then the strange gold hilt           was placed in the hand of the gray-bearded king,         wise war-leader old work of giants;                   after the fall of devils it came into the hands               of the lord of the Dane-men, from magic smithies;                 once the fierce spirit, long God’s opponent,              guilty creature, and his murderous mother        had quitted this world, it came to the power                of the best overlord between the two seas,              of all world-rulers in Scandanavia             who gave good treasures. Hrothgar spoke,                      examined the hilt, great treasure of old.                There was engraved the origin of past strife, when the flood drowned, the pouring ocean killed           the race of giants. . . . On its bright gold facings          there were also runes set down in order,                    engraved, inlaid, which told for whom                the sword was first worked, its hair-keen edges,                  twisted gold scrolled in the hilt,                    the woven snake-blade(1605ff).  Chickering in his â€Å"Commentary†would have us believe that the melting sword is a reference to patristic theology, to St.
Monday, January 13, 2020
Graduate school Essay
Preparation Before applying, understand why attending graduate school makes sense to you. To clarify why you want to attend graduate school at this point in your life, try answering questions such as: †¢Ã‚ What will this degree enable you to achieve? †¢Ã‚ What do you plan to do with your advanced degree? Be able to express what about you and your experiences will help you to succeed in the program: †¢Ã‚ Make lists of professors, courses, research projects, ideas, travel, and other experiences that have been important to you, or have influenced your decision to apply to graduate school. †¢Ã‚ Think about any volunteer, extracurricular, or paid work experiences, as well as interests, special skills you possess, or honors and awards you have received. †¢Ã‚ What have you learned from your experiences? How have you used this knowledge? †¢Ã‚ Provide the admissions committee with information that supplements (not repeats) the information in the rest of your application. What important aspects are not clearly reflected in your resume, college transcripts and test scores? For example, you might want to indicate how you hope to benefit from graduate studies, and how you intend to apply and integrate your graduate studies in your career. Writing Tips †¢Ã‚ Answer the question. Some applications require a general personal statement, others ask you to write on more specific topics. Be sure to tailor your essay to the school’s request. †¢Ã‚ Keep the essay clear, concise, and to the point. The essay demonstrates your writing ability and communication skills. Engage your readers with an effective introduction and clear structure. Say what you mean directly and avoid using phrases like â€Å"I think†or â€Å"In my opinion.††¢Ã‚ Write your personal story. Set your statement apart by discussing WHAT is important to you, WHY it is important, and HOW you have used your talents and abilities in your life. †¢Ã‚ Be specific and give examples. For instance, instead of simply stating that you would make an excellent doctor (lawyer, engineer, etc.), provide reasons and examples. What experiences have you had that encouraged you to enter this field? †¢Ã‚ Follow any format guidelines provided by the school, such as length, font, or margin size. †¢Ã‚ Proofread! Ask several people to read through your essay, especially faculty in your desired area of study, English professors, career counselors, parents, and friends who will give you honest feedback. Ensure that there are no typos, misspellings, or grammatical errors. Over → USD Career Services †¢ Hughes 110 †¢ 619-260-4654 †¢ careers@sandiego.edu †¢ www.sandiego.edu/careers Tailoring Your essay will be different for each application. Know the special features, emphases, or approaches of each program, and reflect these in your essay. †¢Ã‚ What are the school’s strengths? †¢Ã‚ What makes the program a good choice for you? †¢Ã‚ How might you contribute to the program? Cautions †¢Ã‚ Do not include references to your experiences or accomplishments before college, unless there was an extraordinary achievement or trauma that had a significant impact on your current situation. †¢Ã‚ Do not mention subjects that are too controversial. Avoid offending the admissions committee. †¢Ã‚ Do not be too general. Top schools may receive thousands of applications, and you want yours to stand out. Keep your essay interesting, relevant, and tailored to the school. Additional Resources Websites at many universities contain advice on writing graduate school essays. The Writing Center at RPI www.rpi.edu/dept/llc/writecenter/web/gradapp.html UC Berkeley: Graduate School Statement http://career.berkeley.edu/Grad/GradStatement.stm UCSD: Application Essays http://career.ucsd.edu/sa/applicationEssays.shtml These commercial web sites offer helpful samples and tips on writing graduate school essays. By listing these sites, USD Career Services is not endorsing the additional paid services. Essay Edge www.essayedge.com/ Admissions Essays www.admissionsessays.com (click on Writing Tips) All About the Graduate Admissions Essay http://gradschool.about.com/od/essaywriting/All_About_the_Graduate_Admissions_Essay.htm The following books on graduate school essays are available in the USD Career Services Library. Graduate Admissions Essays, by Donald Asher (Ten Speed Press) Peterson’s Perfect Personal Statements, by Mark Stewart (Thomson Peterson’s)
Saturday, January 4, 2020
Endicott College GPA, SAT Scores and ACT Scores
Roughly a quarter of applicants to Endicott College will not get in. Successful applicants to this ocean-side college tend to have grades and standardized test scores that are average or better. Endicott College GPA, SAT and ACT Graph Endicott College GPA, SAT Scores and ACT Scores for Admission. Data courtesy of Cappex. Discussion of Endicott Colleges Admissions Standards: In the scattergram above, the blue and green dots represent students who received acceptance letters. Most had combined SAT scores (RWM) of 1000 or higher, an ACT composite of 20 or higher, and a high school average of a B or better. Grades and standardized test scores above these lower ranges will improve your chances, and you can see that many accepted students had high school averages up in the A range. Note that Endicott College is test-optional for most applicants, so your grades are going to matter far more than your SAT or ACT scores. Youll notice a few red dots (rejected students) and yellow dots (waitlisted students) mixed in with the green and blue throughout the graph. This tells us that a few students with grades and test scores that were on target for Endicott College were not admitted. On the flip side, you can see some students with grades and test scores a bit below par were admitted. This seeming inconsistencies are the result of Endicotts holistic admissions policy. To quote from the schools admissions website: Endicott demonstrates a commitment to enrolling students from a wide geographic range as well as from all ethnic and racial heritages. When considering candidates for admission, the Admission Review Committee looks at the entire individual. In addition to reviewing the application and the student essay, the Committee concentrates on a students academic record, recommendations, extra-curricular activities, and test scores. So to be competitive, put time into crafting a strong application essay, and make sure you have meaningful extracurricular activities. Endicott College invites applicants to submit a resume of extracurricular activities, accomplishments, and work experiences. It is worth creating the resume if youve been highly involved in activities outside of the classroom in high school. Learn More About Endicott College To learn more about Endicott College, high school GPAs, SAT scores and ACT scores, these articles can help: Endicott College Admissions ProfileWhats a Good SAT Score?Whats a Good ACT Score?Whats Considered a Good Academic Record?What is a Weighted GPA? Articles Featuring Endicott College: Colleges for Beach LoversMassachusetts Colleges If You Like Endicott College, You May Also Like These Schools: Roger Williams University: ProfileMerrimack College: ProfileUniversity of Massachusetts - Amherst: Profile | GPA-SAT-ACT GraphBentley University: Profile | GPA-SAT-ACT GraphSalve Regina University: ProfileBoston University: Profile | GPA-SAT-ACT GraphSalem State University: ProfileUniversity of Massachusetts - Boston: Profile | GPA-SAT-ACT GraphStonehill College: Profile | GPA-SAT-ACT GraphKeene State College: ProfileNortheastern University: Profile | GPA-SAT-ACT Graph
Friday, December 27, 2019
Providence College Acceptance Rate, SAT/ACT Scores, GPA
Providence College is a private, Catholic college with an acceptance rate of 49%. Located in Providence, Rhode Island northwest of downtown, Providence College is administered by the Dominican Order of Friars. Providence Colleges curriculum is distinguished by a four-semester-long course on western civilization that covers history, religion, literature, and philosophy. Providence College has an impressive graduation rate of over 85%. In athletics, the Providence College Friars compete in the NCAA Division I Big East Conference. Considering applying to Providence College? Here are the admissions statistics you should know, including average SAT/ACT scores and GPAs of admitted students. Acceptance Rate During the 2017-18 admissions cycle, Providence College had an acceptance rate of 49%. This means that for every 100 students who applied, 49 students were admitted, making Providence Colleges admissions process competitive. Admissions Statistics (2017-18) Number of Applicants 11,421 Percent Admitted 49% Percent Admitted Who Enrolled (Yield) 20% SAT Scores and Requirements Providence College has a test-optional standardized testing policy. Applicants to Providence may submit SAT or ACT scores to the school, but they are not required. During the 2017-18 admissions cycle, 47% of admitted students submitted SAT scores. SAT Range (Admitted Students) Section 25th Percentile 75th Percentile ERW 610 670 Math 600 690 ERW=Evidence-Based Reading and Writing This admissions data tells us that of those students who submitted scores during the 2017-18 admissions cycle, most of Providence Colleges admitted students fall within the top 20% nationally on the SAT. For the evidence-based reading and writing section, 50% of students admitted to Providence scored between 610 and 670, while 25% scored below 610 and 25% scored above 670. On the math section, 50% of admitted students scored between 600 and 690, while 25% scored below 600 and 25% scored above 690. While the SAT is not required, this data tells us that a composite SAT score of 1360 or higher is competitive for Providence College. Requirements Providence College does not require SAT scores for admission. For students who choose to submit scores, note that Providence participates in the scorechoice program, meaning that the admissions office will consider your highest score from each individual section across all SAT test dates. Providence does not require the essay section of the SAT. Note that Providence does not review or consider SAT Subject test scores for admission. ACT Scores and Requirements Providence College has a test-optional standardized testing policy. Applicants may submit SAT or ACT scores to the school, but they are not required. During the 2017-18 admissions cycle, 20% of admitted students submitted ACT scores. ACT Range (Admitted Students) Section 25th Percentile 75th Percentile English 26 33 Math 25 29 Composite 26 30 This admissions data tells us that of those who submitted scores during the 2017-18 admissions cycle, most of Providence Colleges admitted students fall within the top 18% nationally on the ACT. The middle 50% of students admitted to Providence received a composite ACT score between 26 and 30, while 25% scored above 30 and 25% scored below 26. Requirements Note that Providence does not require ACT scores for admission. For students who choose to submit scores, Providence College does not superscore ACT results to create a new composite score; though they will consider your highest subscores from each section. Providence does not require the ACT writing section. GPA In 2018, the average high school GPA for Providence Colleges incoming freshmen class was 3.45, and nearly half of students had average GPAs of 3.5 and above. These results suggest that most successful applicants to Providence College have primarily high B grades. Self-Reported GPA/SAT/ACT Graph Providence College Applicants Self-Reported GPA/SAT/ACT Graph. Data courtesy of Cappex. The admissions data in the graph is self-reported by applicants to Providence College. GPAs are unweighted. Find out how you compare to accepted students, see the real-time graph, and calculate your chances of getting in with a free Cappex account. Admissions Chances Providence College, which accepts fewer than half of applicants, has a selective admissions process. However, Providence has a holistic admissions process and is test-optional, and admissions decisions are based on much more than numbers. A strong application essay and glowing letters of recommendation can strengthen your application, as can participation in meaningful extracurricular activities and a rigorous course schedule. Providence is particularly interested in applicants with a challenging high school curriculum which includes Honors and AP classes. Students with particularly compelling stories or achievements can still receive serious consideration even if their grades and test scores are outside of Providence Colleges average range. In the graph above, the blue and green dots represent accepted students. You can see that most students who got into Providence College had GPAs of 3.3 or higher, SAT scores (ERWM) above 1150, and ACT composite scores of 24 or better. Many successful applicants had solid A averages. If your SAT or ACT scores are below the optimal range for Providence you can take advantage of the colleges test-optional admissions policy. If You Like Providence College, You May Also Like These Schools University of ConnecticutBoston UniversityFordham UniversityBrown UniversityUniversity of New HampshireSyracuse UniversityUniversity of VermontVillanova University All admissions data has been sourced from the National Center for Education Statistics and Providence College Undergraduate Admissions Office.
Thursday, December 19, 2019
Harrison Bergeron - 998 Words
Harrison Bergeron If I tried to get away with it, then other peopled get away with itÂâ€"and soon wed be right back to the dark ages againÂ… This statement by George Bergeron sums up Kurt Vonnegut Jr.s short story Harrison Bergeron in one line. Harrison Bergeron is the story of a futuristic United States in the year 2081, where all individuals are made equal regardless of what their natural born characteristics were. They are made equal both mentally and physically, all to the same measure of intelligence and strength. In Harrison Bergeron the society has become apathetic and equally conformed because of the power of the Handicapper General, the forced use of handicaps, and the people within the society who continued to let†¦show more content†¦By allowing the government to pass over 200 amendments to the constitution they are tolerating their lives being run for them. Without voting against these amendments or trying to repeal them they have gotten to a point where there is now nothing they can do to go back and change things. They were equal in every which way. Nobody was smarter than anybody else. Nobody was better looking than anybody else. Nobody was stronger or quicker than anybody else. These were the laws that were passed in the 211th, 212th, and 213th Amendments to the Constitution. As of now, in 2005, our society has 27 Amendments. To think of having over 200 is unfathomable. The society is apathetic and content with being average. They dont revolt or vote against these injustices, they accept them. Diana Moon Glampers loaded the gun again. She aimed it at the musicians and told them they had ten seconds to get their handicaps back on. It is obvious that the people can remove their handicaps, they do have control over them, but they choose not to, even in private. Hazel tries to get George to take out a few of the lead balls because he has been so tired lately Ââ€" kind of wore out. Yet, he wont he has been programmed to obey the law by any means. By not taking off the handicaps, the society and the people in it have perpetuated the actions taken by the government and those in charge. The story Harrison Bergeron, though fictional and futuristic, is a great portrayal of what life couldShow MoreRelatedharrison bergeron952 Words  | 4 Pagesï » ¿ An Equal Society with a Strong Government In 2081, all of society is forced to be equal. In Kurt Vonnegut, Jr.’s short story, Harrison Bergeron, everyone is assigned â€Å"handicaps†that make them equal to everyone else. These handicaps included wearing weights around the neck, wearing a mask to cover beauty, and having a device in the ear so thinking could not be overdone. â€Å"Nobody was smarter than anyone else; nobody was better looking than anyone else; nobody was stronger or quicker than anyoneRead MoreHarrison Bergeron1095 Words  | 5 Pagesâ€Å"Harrison Bergeron†by Kurt Vonnegut Jr. â€Å"Harrison Bergeron†by Kurt Vonnegut Jr. is a story literally exaggerated to its limit by showing, in the near future, what it means to be equal in every way by having people not being able to show any form of intelligence or creativity whatsoever. When Harrison Bergeron breaks the chains of government oppression, he dies for his failed cause. He dies because he chooses not to conform to the rest of his oppressive society. His parents, George andRead MoreHarrison Bergeron1317 Words  | 6 PagesAn impartial society: Utopia or Hell? What would happen to the world if the people were literally equal in every aspect of their lives? In the futuristic short story, â€Å"Harrison Bergeron†by Kurt Vonnegut Jr., the world is finally living up to America’s first amendment of everyone being created equal. In this society, the gifted, strong, and beautiful are required to wear handicaps of earphones, heavy weights, and hideous masks, respectively. Thus, these constraints leave the world equal fromRead MoreHarrison Bergeron983 Words  | 4 Pagesâ€Å"Harrison Bergeron†is a story about Big Government forcing equality on citizens by the use of handicaps; in doing so they hold everyone back from their fullest potential. The year 2081 is oppressive to say the least; people are punished for being above average in intelligence, beauty, physical abilities or any variety of capabilities. No one is supposed to be more attractive, stronger, more intelligent or quicker than anyone else. The quest for egalitarianism is faulty; people who are born giftedRead MoreHarrison Bergeron2717 Words  | 11 Pages According to Vonnegut, so did the U.S. government, in the year 2081. In the outrageous short story of Harrison Bergeron, many historic achievements and ideas, like the Manifesto, can closely parallel with that of the future outlook described by Vonnegut. Vonnegut shows the ridiculousness of the outcome of this, at the time, pop ular ideology with satire and exaggerations. Harrison Bergeron opens with a paragraph that immediately gives a background setting to the story as a whole. The time of 2081Read MoreEssay on Harrison Bergeron682 Words  | 3 PagesHarrison Bergeron, projected on a stage representing the conformity of a society with a system of Government based on equality for the weak, which are monitored and controlled by a dictatorial Government. This story is a literary sample that gives us a system of Government, where the law was created with the intention of limiting the individuals and turning them into beings with actuation equality, controlling them through the transmitters or obstacles in their body for that people couldRead MoreHarrison Bergeron Essay992 Words  | 4 PagesHarrison Bergeron Imagine a world where an oppressive government captures what many call diversity. Where ugly is known as beauty and intelligence is insignificant. â€Å"They werent only equal before God and the law. They were equal every which way. Nobody was smarter than anybody else. Nobody was better looking than anybody else. Nobody was stronger or quicker than anybody else.†(Vonnegut) This is the future that Harrison experiences, in the short story â€Å"Harrison Bergeron,†by Kurt Vonnegut. ItRead MoreEssay On Harrison Bergeron710 Words  | 3 PagesDo you think society would improve if everyone was equal? Even though people may argue with me, I say that everyone isn’t truly equal in the story, Harrison Bergeron. I say this due to how people that are naturally born with above average intelligence, strength, and looks gorgeous has to wear handicaps to hide their unique abilities. Another reason is that some people are either respected or disrespected because of their special talents. Thirdly, some people in the story does not need to follow theRead MoreThe Lottery and Harrison Bergeron1100 Words  | 5 Pages The Lottery and Harrison Bergeron People with power in society often have the ability to influence the practice of certain traditions. These traditions can affect what a citizen is entitled to do. In todays day and age, life without basic freedoms and rights sounds unthinkable. However, in Shirley Jacksons â€Å"The Lottery†and Kurt Vonneguts â€Å"Harrison Bergeron†this is the reality. Old Man Warner and the Handicapper General show that people in positions of authority encourage outdated traditionsRead MoreAnalysis Of George Bergeron s Harrison Bergeron 1558 Words  | 7 PagesThe title character, Harrison Bergeron, wants to defy the government system and dare to be different. The society he lives in wants everyone to be equal in every wayâ€â€Ã¢â‚¬Å"nobody was smarter [or better looking or stronger or quicker] than anybody else†(Vonnegut 226). George Bergeron had an intelligence [†¦] way above normal†(Vonnegut 226) and thus had a â€Å"transmitter [that] would send out some sharp noise†(Vonnegut 227) about every twenty seconds. George Bergeron is very superior in every way, â€Å"[wearing]
Wednesday, December 11, 2019
Differential Effect Of Oil Demand Supply - MyAssignmenthelp.com
Question: Discuss about the Differential Effect Of Oil Demand Supply. Answer: Introduction: Microeconomics is a basic tool to analyse and understand various economic situations. Here, newspaper analysis will be taken to understand some basic concepts. These basic concepts are production possibility frontier, demand and supply, different types of demand and supply elasticity and equilibrium of price and quantity. Moreover, diminishing marginal utility and the concept of budget line are also very important. Here news paper analysis will be done to understand these basic concepts of microeconomics. Hence, to do this research, six different newspaper articles have been chosen. From those articles, it will be seen that which types of microeconomic factors are operating. Moreover, to demonstrate those factors clearly, some proper diagrams will be drawn. At the end, an overall conclusion will be drawn, based on those analyses. Analysis of articles: Scarce resource: In Venezuela, due to high rate of inflation, the value of Bolivar becomes low. Moreover, people are getting very low amount of money from bank. Market price of every product becomes very high. However, consumers cannot purchase those products within their limited income. On the other side, due to black market, the exchange rate of Bolivar becomes very high (CNNMoney 2018). To control this situation, the government of this country has set a withdrawal limit of money from bank. Hence, due to higher amount of inflation, Bolivar has lost its value. On the other side, due to higher black money exchange rate, one person can get higher amount of Bolivar for $1. Those all effects have increased total money supply in Venezuela. The government of this country is trying to control this excessive inflation by limiting the amount of money lending from banks (Varian 2014). This will further create a black market and will increase the value of exchange rate f Bolivar in international market. Figure1: increase supply of Bolivar Source: (created by author) High rate of inflation has increased total market supply of Bolivar. On the other side, due to black money operations, money holders are offering more Bolivar for one unit of dollar. This again increases the supply of Bolivar in the market. As a result, the supply curve has shifted from left to right (S0 to S1). In the above diagram, this extra amount of money supply (Q0 Q1) represents this excess amount of Bolivar in the country. Moreover, the price value of this currency has decreased by P0-P1 amount. Demand and supply: The cost price of Christmas tree has increased in 2017. In 1974, the price of those Christmas tree was $30 each. However, in 2016, it was $95 and in 2017, it was $110 for each tree. The reason behind this increasing price of Christmas tree is shortage of supply all over the nation. Moreover, due to high competition with big box stores, the profit rate of those side vendors may decrease (Ferr-Sadurn 2018). They also pay extra charge for selling their products in New York. These are the chief reason behind the increasing price of Christmas tree in this city. Moreover, to cover up their low level of revenue from cheaper locations, they increase their Christmas tree price in this city. The demand curve of those Christmas tree vendors represents this situation (Cashin, Mohaddes, Raissi and Raissi 2014). As the supply of Christmas tree has decreased, it will increase the price level. Figure2: increasing price level of Christmas tree due to lower supplier Source: (created by author) In the above figure, as the supply of Christmas tree has declined due to shortage. The new supply curve is S1. As a result, the price of this product has also increased and become P1. Market equilibrium: In Jakarta, demand for new office spaces will increase in the coming year. According to a report, this demand for extra office spaces will be almost triple. This is because some e-commerce companies are expanding rapidly (Post 2018). As a result, rental charges may increase further. However, due to increasing amount of office buildings, rental charges will not increase. As they are providing extra office spaces in upcoming years, the rental charge will remain almost same. This increasing demand and supply effect of office spaces can be analysed by a suitable diagram. Figure 3: Market equilibrium of office space in Jakarta Source: (created by author) In the above figure, the initial demand and supply curve of office space in Jakarta are drawn. The initial demand curve is D0 and the initial supply curve is S0. After the mentioned increasing demand for new office spaces, this demand curve has shifted to upward, that is, D1. In this new demand curve, the rental amount could be P1. However, the supply of housing space is also increasing in next year (Varian 2014). This S1 curve is showing this effect. Hence, the amount of rent will be same in future, as well. Elasticity: In the article of IPhone X, the effect of own price elasticity can be observed. Here, IPhone X is a highly elastic product. Hence, the slight change of the price of this phone will affect its demand negatively (Post 2018). The price of this Apple phone is very high. Moreover, the company is not introducing any new features to increase consumers attraction. Hence, the demand for this IPhone is decreasing over the year. Moreover, due this decreasing amount of demand, country is also decreasing their amount of shipping. Hence, being elastic good, a small change of price can greatly influence the overall demand of this phone. The following figure has shown this effect. Figure4: Price elasticity of IPhone X Source: (created by author) In the above diagram, an elastic demand curve of IPhone is drawn. Initially, the supply curve was S1. Hence, the corresponding price of Iphone was P1 for Q1 amount. As the price of this phone is very high and there are no new features within the phone, the world demand has reduced to Q0 level. As a result, the supply of IPhone has also decreased by S0 amount (Yan, Tian, Heravi and Morgan 2017). This is the chief reason behind the decreasing amount of shipments, that is, 30 million units to 25 million units within 3 months. Elasticity: Trump tower is another example of elastic product in India. Being luxurious products, the demand for those apartments are increasing significantly. In Gurgaon, people are buying new Trump apartments rapidly. Moreover, the demand of those residential places of Trump brand is increasing in Mumbai, Pune and Kolkata (Iyengar 2018). Builders are selling those branded apartments with very higher prices. Those prices are higher than 30%, compare to other similar properties. Hence, producers or builders of those projects will earn producer surplus. Producer surplus is an amount that they can enjoy at anytime. In a competitive market situation, there exists an equilibrium price for a particular output. However, consumer can pay more to achieve that product. This extra payment of consumer is considered as producer surplus. Figure5: Producer Surplus Source: (created by author) In the above diagram, the triangle P1 E P0 represents producer surplus. In general, the market price of any apartment is P0. However, people want to buy Trump apartment at P1 price, as it is a luxurious product. Hence, the producer or developer will enjoy a surplus. Budget Line: Carillion is one of the largest construction companies in U.K. However, after financial crisis, the company is planning to sale their assets. To maintain this loose, the British Government has decided to provide finance to continue their operational services. The government has done this to continue public services (Iyengar 2018). However, according to some critics, this decision of government is wrong. There is no future prospect for Carillion to grow further. On the other side, the budget of British government will be increased further. The budget line of the British government can illustrate this above statement (Luo 2014). As the government will provide more funds to this government, the budget line will shift upward in the vertical portion. Figure6: Budget line of the British Government Source: (created by author) In the above figure, as the government has increased their financial support for Carillion. As a result, the budget line of the government has shifted upward in the vertical axis. The initial budget line was Pc0 Pa. After providing financial support, the new budget line becomes Pc1 Pa. There is an increment of this line from Pc0 to Pc1. Conclusion: Hence, from the above discussion, the report can conclude an overall situation. In every part of daily life and economic activities, micro economic concepts are always present. The basic demand and supply tool can use in every situation. Moreover, nature of a product also indicates the elasticity of demand. This report has presented the concept of demand elasticity related to IPhone and Trump building. Furthermore, a newspaper article has represented the concept of producer surplus. On the other side, budget effect indicates the British government expenditure. Hence, this report has analysed almost every concepts of microeconomics. Reference: Cashin, P., Mohaddes, K., Raissi, M. and Raissi, M., 2014. The differential effects of oil demand and supply shocks on the global economy.Energy Economics,44, pp.113-134. CNNMoney. (2018).Venezuela's cash crisis: You can't get $1 from a bank. I tried.. [online] Available at: https://money.cnn.com/2018/01/17/news/economy/venezuela-cash-crisis/index.html?iid=Lead Ferr-Sadurn, L., 2018.How Much for That Tree? $35 in Harlem, or $135 in SoHo. [online] Nytimes.com. Available at: https://www.nytimes.com/2017/12/10/nyregion/new-york-city-christmas-tree-prices.html?rref=collection%2Ftimestopic%2FFood%20Prices%20and%20Supply Iyengar, A., 2018.Carillion: Construction firm with 43,000 employees collapses. [online] CNNMoney. Available at: https://money.cnn.com/2018/01/15/investing/carillion-uk-liquidation/index.html?iid=SF_River Iyengar, R., 2018.Trump's India partner sees 'overwhelming' interest in Gurgaon apartments. [online] CNNMoney. Available at: https://money.cnn.com/2018/01/15/news/economy/trump-towers-india-delhi-gurgaon-launch/index.html?iid=SF_River Luo, C., 2014. Questioning the soft budget constraint.Annals of Economics and Finance,15(1), pp.403-412. Post, T., 2018.Demand for office space to soar next year. [online] The Jakarta Post. Available at: https://www.thejakartapost.com/news/2017/12/21/demand-for-office-space-to-soar-next-year.html Post, T., 2018.IPhone X forecasts cut, citing lukewarm demand. [online] The Jakarta Post. Available at: https://www.thejakartapost.com/news/2017/12/26/iphone-x-forecasts-cut-citing-lukewarm-demand.html Varian, H.R., 2014.Intermediate Microeconomics: A Modern Approach: Ninth International Student Edition. WW Norton Company. Yan, J., Tian, K., Heravi, S. and Morgan, P., 2017. The vices and virtues of consumption choices: Price promotion and consumer decision making.Marketing Letters, pp.1-15.
Subscribe to:
Posts (Atom)