Profit Maximisation Model Essay Example

Profit Maximisation Model Essay Profit Maximization model helps to predict the price-output behavior of a firm under changing market conditions like tax rates, wages and salaries, bonus, the degree of availability of resources, technology, fashions, tastes and preferences of consumers etc. It is a very simple and unambiguous model. It is the single most ideal model that can explain the normal behavior of a firm. It is often argued that no other alternative hypothesis can explain and predict the behavior of business firms better than profit-maximization hypothesis.This model gives a proper insight in to the working behavior of a firm. There are well developed mathematical models to explain this hypothesis in a systematic and scientific manner. Profit-maximization implies earning highest possible amount of profits during a given period of time. A firm has to generate largest amount of profits by building optimum productive capacity both in the short run and long run depending upon various internal and external factor s and forces.There should be proper balance between short run and long run objectives. In the short run a firm is able to make only slight or minor adjustments in the production process as well as in business conditions. The plant capacity in the short run is fixed and as such, it can increase its production and sales by intensive utilization of existing plants and machineries, having over time work for the existing staff etc. Thus, in the short run, a firm has its own technical and managerial constraints.But in the long run, as there is plenty of time at the disposal of a firm, it can expand and add to the existing capacities, build up new plants, employ additional workers etc to meet the rising demand in the market. Thus, in the long run, a firm will have adequate time and ample opportunity to make all kinds of adjustments and readjustments in production process and in its marketing strategies. It is to be noted with great care that a firm has to maximize its profits after taking in to consideration of various factors in to account.They are as follows: 1. Pricing and business strategies of rival firms and its impact on the working of the given firm. 2. Aggressive sales promotion policies adopted by rival firms in the market. 3. Without inducing the workers to demand higher wages and salaries leading to rise in operation costs. 4. Without inducing the workers to demand higher wages and salaries government controls and takeovers. 5. Maintaining the quality of the product and services to the customers. 6.Taking various kings of risks and uncertainties in the changing business environment. 7. Adopting a stable business policy. 8. Avoiding any sort of clash between short run and long run profits in the business policy and maintaining proper balance between them. 9. Maintaining its reputation, name, fame and image in the market. 10. Profit maximization is necessary in both perfect and imperfect markets. In a perfect market, a firm is a price-taker and under imperf ect market it becomes a price-searcher.

Understanding the history of a Biomedical scientist The WritePass Journal

Understanding the history of a Biomedical scientist Introduction Understanding the history of a Biomedical scientist IntroductionConclusionRelated Introduction If one was to ask someone what a biomedical scientists was 15 years ago, the response would probably be pardon?, but now that we are in the 21 century it has become more of acknowledge role in the healthcare industry and amongst the public. However the term biomedical scientist is still not used, one is more likely to hear terms like virologist, haematologist, microbiologist, cytologist, and many others. Biomedical science is a broad term used to encapsulate a diverse range of professions in health care and other industries. The first sign of viruses in history was probably discovered in the Egyptian times, when a dead corpse was found in tomb with abnormal tissues of smallpox. The body seem to show signs of yellow fever and other viruses and signs of paralytic poliomyelitis, which is caused from polio. As time went on people with polio viruses seemed to be successfully continuing with their life, however when the daunting HIV and Hepatitis B broke out there were more deaths. These viral diseases not only caused harm to humans but also to the planet, plants, fish, birds and other living mammals. Conclusion The word virus comes from the Greek meaning ‘poison’, the word virus has been commonly used in the English language for years.   One of the very first people to identify invisible viruses that was able to cause infectious diseases, was a bacteriologist, unfortunately technology that we now use to recognise disease were not present. Edward Jenner was a as scientist who cleverly used materials from cowpox as a vaccine to prevent smallpox. Many other people of whom were not scientist were able to create vaccines to prevent other disease e.g. Louis Pasteur he created a vaccine for children that had been bitten from a rabid animal.

Among all of the political leaders studied in class who do you think Essay

Among all of the political leaders studied in class who do you think represent the true characteristics of a good leadership and why do you think the rest of t - Essay Example A leader should have a clear vision in his mind about where he is standing right now and how far he has to go to pursue his dreams. He must have the quality to translate his vision into solid form. Without having a clear picture in his mind one cannot achieve the desired goal. Only vision is not sufficient to get the job done. The leader should form a team of experts who will deliver. The erstwhile chairman of General Electric Company has very rightly pointed out that "Good leaders create a vision, articulate the vision, passionately own the vision and relentlessly drive it to completion." The leader should be disciplined, hard working and has the burning desire to pursue his dreams. Action can be termed as the focal point of a leader. A good leader always puts in efforts in pursuance of his vision and influences others to do with the same zeal and enthusiasm. A true leadership gives the credit where the credit is due. He takes the ownership of good or bad actions. He cannot be absolved himself from any failure. As a team leader, he passes on the bucket of fruits of success to his team mates and takes the blame of any of his follies. He treats himself at par with other fellow citizens. He believes in that only good deeds can make them popular amongst the people. In this respect, we may quote here the name of Asian Leader, Mahatma Gandhi. He should be good listener as far as the ideas of others are concerned. He has every right to accept the ideas or reject it but with cogent reasons. The openness policy surely opens the doors of mutual trust and respect between the leaders and the followers. Â   A good leader should be clear in his statement in order to avoid any misunderstanding. He should be firm in achieving the desired results. According to survey conducted by the Americans Psychological Association, the most common weaknesses found in the

Development of Prostitution Essay Example | Topics and Well Written Essays - 1000 words

Development of Prostitution - Essay Example s â€Å"profession† vary greatly among those involved, the most common of which relate to poverty and destitution, although according to an unnamed Google-sponsored informative website (2010), other reasons such as a desire for drugs and/or alcohol, also exist. Despite its controversial nature, it is sometimes pondered whether its legalization would do greater harm than good. Thus, this article aims to discuss the pros and cons if ever prostitution were to be legalized, and to come up with a stand. Asia, America, Europe, wherever one goes, a very much active sex industry is sure to exist. Most industrialized nations have cities with their own red-light district, complete with clubs with neon signs, where those interested can experience a close encounter of the carnal kind. But regardless of where it occurs, prostitution is an issue worthy of note. Where it started, why it goes on, and why anyone would be drawn to it in the first place are just some questions people ask pertaining to this subject. An article by Iris Hickenbottom (2002) states that this particular trade dates back to ancient Mesopotamia, emerging in Victorian-era America in the middle of the 19th century. Public perception of the sex industry and of prostitutes in general varied greatly within this period, ranging from understanding and sympathy to indifference and finally to flat, outright rejection. While they had hitherto been thought of as life-draining demons in human guise, early feminists instead viewed them as victims of a male-dominated society – a viewpoint which slowly but surely altered the status of women all over. The same site goes on to note Dr. William Sanger, whose research on the topic was highly regarded due to being both accurate and detailed. Among the most important things he discovered was the general profile of a prostitute: they were said to mostly be in their late teens or early adulthood, and usually came from a background of poverty and illiteracy. Since at the time,

Antitrust Practices and Market Power Essay Example for Free

Antitrust Practices and Market Power Essay Apple was investigated, as well as several publishing companies for conspiring to keep e-book prices high. Amazon is the biggest retailer of e-books, and the publishing business has been thrown into chaos by the popularity of e-books. Publishing companies used the old publishing model of selling e-books like print books where the publisher sells the book to the retailer, like Amazon or Apple, at about half the price of the cover price and the retailer can sell the book at whatever price it chooses. (Chen Bosman, 2013) Apple entered into contracts with publishers that use an â€Å"agency model† to price e-books. This meant that publishers would set the price of e-books, and the retailer would get 30% of the sale price as profit. Apple also stipulated that publishers could not set a price lower than the price in Apple’s e-book store. (Chen Bosman, 2013) This action by Apple was investigated because the primary purpose of these contracts was to keep the e-book prices higher, and to reduce competition between booksellers. Amazon, the giant in the market, would not be able to compete on price, and e-books would cost consumers more. Identify some of the costs (pecuniary and nonpecuniary) associated with the antitrust behavior (firms having power in the market). Additionally, note the specific antitrust act (Sherman Act, Clayton Act, etc.) under which the violation was investigated. The pecuniary cost of the actions of Apple is that consumers will pay more money for books, and Apple, as well as other book sellers, will not have to compete on price with Amazon who dominates the market. This will cost Amazon, and booksellers and publishers may make more money at the expense of consumers. The non-pecuniary cost will be that books will not be as available at low prices to consumers who want them, but cannot afford the price. Price fixing is a violation of section 2 of the Clayton Act of 1914. This act prohibits price discrimination that is not based on cost differences that reduces competition. (McConnell, Brue, Flynn, 2012) Given your research and findings, are monopolies and oligopolies (firms demonstrating power) always bad for society? Be sure to provide real world examples of where this may be the case to strengthen your position. Provide at least one example of a case where having a monopoly or oligopoly may actually benefit the society. According to my research in this case, Amazon’s demonstration of oligopoly power is good for society because e-book prices are lower when Amazon tries to block other competitors from entering the e-book market, and more e-books are then available to the public. This is a good real-world example of the positive influence that an oligopoly can have for society, and an example of how regulation is needed, and anti-trust laws, when oligopolies use collusion to compete instead of letting the free-market operate. References Chen, B. X., Bosman, J. (2013, June 2). E-book antitrust trial of Apple to begin. The New York Times. Retrieved from http://www.nytimes.com/ McConnell, C. R., Brue, S. L., Flynn, S. M. (2012). Economics (19th ed.). Retrieved from http://devry.vitalsource.com/#/books/0077587766/pages/50192724

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Self-Fulfilling Prophecy Individuals have long been intrigued by the notion that persons’ expectations can become a reality. These are commonly referred to as self-fulfilling prophecies. Early scientific work in this area examined the Pygmalion effect—when superiors' high expectations of their subordinates' performance are fulfilled. Since this inception, many replication studies have examined this effect within various contexts and settings—e.g., schools, government, and military. Studies of the Pygmalion effect have identified that a key mechanism through which leaders' expectations influence their followers is by raising the followers’ self-expectations, confidence, or self-efficacy. As a widely researched and generally accepted model of motivation, self-efficacy has been defined as â€Å"people’s judgments of their capabilities to organize and execute courses of action required to attain designated types of performances". Persons’ level of self-efficacy has been associated with individual choices, goals, level of effort, skill acquisition, emotional reactions, persistence in the face of real or perceived obstacles and pressures, and intrinsic interest. Therefore it has been found to be related to a variety of outcomes such as job search behaviors and re-employment, better negotiation role-play outcomes athletic performance and occupational life path choices. Even more powerful than the Pygmalion effect, the Galatea effect is a compelling factor in employee performanc...

Macbeth Film Comparison Essay

Compare and contrast the opening scenes of Polanski’s 1971 film version of ‘Macbeth’ with Geoffrey Wright’s 2007 adaptation. Roman Polanski’s and Geoffrey Wright’s adaptations of Shakespeare’s Macbeth are filmed in different styles despite being based on the same play. This may be to suit a different audience or convey a different message to one another. Roman Polanski’s 1971 reproduction opens on a wide angle shot of a beach with a sunrise coming up over the horizon. This creates a feeling of morning, and that this is just the start of a storyline. After this, three old, weathered women appear and dig a hole in the sand- allowing a mysterious atmosphere to develop, which leaves the audience wanting to know more. The witches then bury a dagger encased in a severed hand and a hangman’s noose. These items allow the audience to ponder upon the connection of the items. The witches then say their goodbyes and wander off along the beach, the only sound being the squeaking of their cart used to haul the ritual items in. This shot is quite simple, but it creates a feeling of anticipation. Geoffrey Wright’s 2007 adaptation opens in a more 21st century blockbuster style, with attractive young schoolgirls playing the part of the witches who vandalise a graveyard by gouging out the eyes of statues of angels and spraying the eyes of the statues with red spray paint. This is quite an aggressive scene to start with, and sets the pace for the rest of the film. Compared to Polanski’s version, this introduction offers a more up-beat feel, instead of the more sombre style of the 1971 film. The camera then pans round to a close-up of Macbeth’s face whose attention is drawn to the young schoolgirls as they wander past him. He then looks at his wife who is kneeling over their dead son’s grave crying. Again, another close-up, but this time of Lady Macbeth’s face which at this point is not particularly attractive. This could show Macbeth’s desire for a prettier woman in the schoolgirls, and reality- the less attractive sight of his wife; but in the end, no-one knows what he is thinking, just that he is not comforting his wife. Here, the atmosphere is quite tense- lots of things are happening at one time which makes you feel like you are there, in Macbeth’s hectic, confused mind. In relation to Polanski’s film, this film is less mysterious and makes you expect fewer twists because there have been not many so far. The title graphics in Polanski’s film are set in a Roman style font, Seriffed and coloured black. The aged font emphasizes the fact that the film is very traditional. This style of writing is often used in newspaper articles. The 2007 adaptation uses a much more modern, contemporary sans-serif font. The text is coloured red- a recurring theme in this film. In the 1971 version, a wide angle shot of the beach is the start of the film. This wide angle shot is used throughout the first scene to depict the bleak landscape that the film is set in. The wide shot could also be showing us the â€Å"bigger picture†- that there are many little thing that make up the plot of Macbeth, and this is just one little thing on a wide, open beach. Geoffrey Wright’s film does not include many wide- angle shots in the first few scenes. This is most probably because of the action-packed nature of the film. Therefore the camera follows the action intensely- for example following the witches around the graveyard. This gives the audience an adrenalin rush- especially in the action scenes where the audience can perceive themselves to be taking part in the violence. In both films however, close-up shots of the faces of the main characters are shown. In Polanski’s film this is to show mainly emotion- the creepy expressions of the witches, and Macbeth’s blank expression when shown in a close-up. When Macbeth is first shown, invaders are being hung in the background- but Macbeth retains his blank facial expression- suggesting that he has no feelings for those being hung. Geoffrey Wright’s film shows close-ups of the faces of the witches defacing the statues at the graveyards. These shots show the determination that the witches show by their facial expressions to destroy all that has to do with God and heaven in the graveyard. The close-ups of Lady Macbeth’s face show her weakness in her love for her dead child. Polanski’s film uses very weak morning light as a setting for the beach scene. This gives a dull, grey, washed out look to the beach. The beach seems quite uncomfortable, as it is daybreak and there is almost no light and the open beach makes you feel cold inside creating an atmosphere that hints to you that something bad is about to happen. Similarly, the 2007 version seems to be shot in the day, but there is very little light as the graveyard is overcast. Despite this, the graveyard feels more comfortable due to the auburn hair of the witches which seem to emit warmth and light- allowing the audience to feel more relaxed and enjoy the action scene that follows. Polanski’s film opens with the witches burying strange items that all link to death and suffering- a dagger, a noose and a severed hand. Blood (possibly a symbol of murder) is then poured over the items. The witches then spit on either side of themselves, possibly to bind themselves to the witchcraft they are taking part in. the weather at that time is bleak ,and a thunderstorm is brewing- possibly suggesting a little cheaply hat something bad is about to happen. At that point, after the title sequence, the king gallops onto the beach to the sound of trumpets- symbolic of royalty and fame. In Geoffrey Wright’s adaptation, a recurring theme of red is used from the start of the film. This colour represents blood, murder, death, danger, and the underworld. For example, the witches hair is Auburn, suggesting that they pose a mild danger to Macbeth. Also, â€Å"The Cawdor†- the bar which is used as a drugs den, has red wallpaper- suggesting that it is part of the underworld. The witches vandalise a graveyard at the start of the film, showing their hatred towards God and heaven. They gouge out the eyes of the angels- possibly making them blind to what is about to happen. Red spray paint is forcefully sprayed in the eyes of the statues, also making them oblivious to the witchcraft about to take place. Crosses are also defaced- possibly a reference to Macbeth’s worries about his afterlife. After the vandalism, the girls quieten down, possibly showing an ounce of respect seen as though the place they just demolished is a graveyard. Macbeth is dressed in casual attire, but in black, as in the introduction, he is supposed to be mourning his son’s death. Macbeth’s wife also lays down white roses- symbols of love and innocence- ironic as in the end, nobody seems to be innocent! Later on, as Macbeth and his gang chase a drug dealer from the underworld (with the prevailing colour of red), yellow street lights and buildings are shown- this separated the real world from the underworld. This shows the audience that Macbeth’s actions are not within the realms of what a â€Å"normal† person would do, and that in order to carry on with his normal life; he must keep his actions inside the underworld. Music is an important part in setting the scene for a film, and in Roman Polanski’s film, a droning, repetitive, chaos-inducing tune is used which shows the kookiness of the witches. When Macbeth is shown, a drum beat, not dissimilar to that of an army march beat is used. This shows how Macbeth is a soldier and will fight for his king. The King has music played on a trumpet- vey regal and flattering, this shows his position clearly as a monarch. The music played for the different characters is mostly to show who they are in terms of status; and the music is used instead of a lengthy introduction, allowing the audience to apply stereotypes to the different characters via the music and paint a picture in their minds about the character, but on a deeper level than shown on screen. While the title graphics are showing, fighting sounds are played- simulating the sounds of a battlefield. Plus with swords clanging and maces clashing, the audience are allowed to recreate their own battle in their minds without the help of visual hints. The 2007 version uses similarly annoying, grating noises for the witches- but this time using hissing sounds- possibly a link to the devil posing as a snake in the Bible story of Adam and Eve, where the snake fools Eve into eating the Apple, who then fools Adam into also eating the apple- an uncanny resemblance to the tragedy of Macbeth. Instead of showing a blank screen while showing the title credits, Wright preferred to show a gung-ho showdown between Macbeth’s gang and an Asian gang. Here, the music is loud and upbeat in contrast to the hissing beforehand- just like the 1971 version. Possibly in an attempt to entice the audience of the 21st century, Wright uses very violent scenes- such as depicting men being shot with submachine guns by Macbeth. Again- this may have been done to excite the audience; and instead of letting the audience make up the fight in their minds, a graphical representation has been put on a plate for them. This was not done in 1971 due to the social taboos against showing excessively violent scenes in films- a theme that runs right through the 2007 version as nowadays, these types of scenes are generally being seen as more and more acceptable; despite many believing that suggesting is much more powerful than stating- as could be the case in Wright’s version. Roman Polanski’s film shows witches dressed in ragged clothes, unwashed and with no shoes. This allows the audience to see immediately that these women are strange, and not very wealthy. The king on the other hand is shown to wear a fine suit of armour, with a polished helmet- showing his social importance and wealth. Macbeth lies in the middle of the two extremes- not exuberantly poor like the witches- as he wears chainmail and shoes; but not very wealthy and important- as he has no banner or shiny helmet. This simplistic method of categorising people shows the simplistic way in which Polanski is trying to depict the characters and show the audience how Macbeth is lodged between the two extremes of wealth and social status. When Macbeth meets up with his gang for the action sequence, all of his gang are dressed casually in dark clothes. All except the gang’s Consigliere (the Kings son) – who is dressed in a smart black suit with a red tie- again, with reference to the recurring theme of red, this time showing him as royalty, and as having a higher social status than the other gang members. Hair is an important part of first impressions- in Polanski’s film, Macbeth’s hair is not shown in the introduction, and is hidden by a chainmail hood. This could hint at Macbeth being sheltered from evil and guarded due to his hood acting as a â€Å"safety blanket†. The King wears a crown- a symbol of true royalty, and his hair is uncovered- possibly showing that he is weak. Geoffrey Wright’s adaptation also depicts the King as being weaker than the other characters when his hair colour is looked at. The King is shown as having very fair, blonde hair- again being a symbol of innocence and weakness. The witches in Polanski’s film have different hairstyles- two have hoods- like Macbeth’s but made of cloth, and one has dirty, unwashed brown hair. This array of hairstyles allows the audience to realise that the witches are individuals, and are not all identical in the way they behave. On the other hand, the 2007 version shows all of the witches having the same hairstyle and colour- that being red- with connotations to blood and death. This also is trying to show the audience that they are quite aggressive and possibly have links to the devil. Roman Polanski’s film depicts Macbeth with 1970’s style censoring- no explicitly violent or sexual scenes; but traditional â€Å"hints† at what is happening. Wrights’ version is essentially a film from a totally different time period- showing excessive violence to â€Å"help† the modern audience understand what is going on. I think that despite the sometimes cheesy details of the film, Polanski has created a classic that really entices the audience and makes them wonder what is going on when subtle hints are dropped directing the viewer on the right direction in terms of their mental picture of the scene. The 2007 version shows how complacent modern-day audiences have become with violence and nudity in films. I think that this is mostly down to the filmmakers wanting to make the film more exciting- in some ways they have, as the action scenes in the film can be quite gripping. But as a teenager, I think that more needs to be done in order to let my imagination get to work and try to think of what is really happening, and what is the film trying to tell me beyond the gratuitous violence.