Economics for Business Decisions Term Paper Example | Topics and Well Written Essays - 3250 words

Economics for Business Decisions - Term Paper Example If Always Round Tire doubles the size of its production facility – increasing L from 250 to 500 and K from 25 to 50 – what happens to the cost of production, even though we do not know the wages of labor or the price of capital?   This production exhibits increasing returns to scale. Doubling the scale of production will more than double the quantity of output. Costs per unit will decline because the firm takes advantage of the economies of scale. Why do economies of scale and learning curve effects look similar when they are graphed? What different concepts do they represent?   A graph of economies of scale shows that average costs per unit of output fall when the quantity of output increases. However, this decrease in the average cost per unit of output occurs at a decreasing rate. Economies of scale show the cost advantages larger firms have in some industries, like basic metals, where costs per unit fall with the cumulative volume of output. A graph of a learnin g curve shows that average costs per unit of output fall when the cumulative quantity of output produced since inception increases. This decrease in the average cost per unit of output occurs at a decreasing rate. Learning curves show the cost advantages firms that have cumulatively produced greater amounts of output have in some industries, like semiconductors. For many corporations, a major portion of the cost of production is fixed in the short run. ... In the long-run all costs are variable costs and there are no long-run fixed costs.    Wanda Weeks is tired of running her small machine tool company. She wishes to sell it in order use her time and money elsewhere. She is currently earning a salary of $85,000 per year and a 10% return on her capital investment. She wants to take a job in a bank and invest her capital in a mutual fund. What issues should she look at before making the decision to change careers?   She should look at the opportunity cost of her time and capital. The total opportunity cost running her machine tool business is the value of both her time and her capital. She should compare how much she could earn from both labor income and selling her capital investment in the machine tool business to her current labor income and capital return as the owner of this business. The Springfield Bank received 1500 inquires following its latest advertisement describing its "establish a Certificate of Deposit (CD)-get a free CD (compact disk)" promotion in the Springfield Shopper, a local newspaper. The most recent similar ad in a similar advertising campaign in the Brockman Business Newsletter, a local business publication generated 500 inquires. Each ad in the Springfield Shopper costs $500. Each ad in the Brockman Business Newsletter costs $125. Inquires from both publications have the same success rate in turning inquires into sales. (a.) Assuming that additional ads will generate similar response rates, is Springfield Bank running an optimal mix of ads in the Springfield Shopper and the Brockman Business Newsletter? Why or why not? (b.) If you claim that the Springfield Bank is currently running an optimal mix of ads clearly explain why they are using an optimal mix of ads. If you claim that the Springfield

Huichol Indians Term Paper Example | Topics and Well Written Essays - 2250 words

Huichol Indians - Term Paper Example When the spaniards invaded this place, the Huichols took refuge in Sierra. While some scholars are of the view that Huichols have aboded this place ever since the beginning. The Huichols primarily had five tribes having diverse cultures CITATION Lat \l 1033 . B.Hearths and Diffusions After the invasion of spanish soliders which made Huichol indians to further move into the depths of the mountains, the â€Å"Franciscan missionaries† came with their agenda of converting the indians to christianity. For this sole purpose they raised â€Å"four churches†. The motive of these missionaries was lost in vain as the Huichol indians remained true to their ancestrol religion and the churches built are in ruins. Although it is believed that Huichol indians were divided into five tribes, yet the recent studies tell of only three tribes namely the huautuari, the tuapuritari and the tateikitari. CITATION Lat \l 1033 II. Evaluation of Habitats. A. Physical Geography Huichol indians are among the primitive cultures and religion. They are settled in and around the states of Jalisco, Nayarit, Zacatecas and Durango in western central Mexico. They live in isolation of mountains of Sierra Madre Occidental. CITATION Lat \l 1033 The Huichol Homeland CITATION Lat \l 1033 B. ... Chapalagana bridge 1995 CITATION Lat \l 1033 C. Climate/Natural Hazards Due to the high altitudes, the climate Huichol indians experience is very dry and severe. The high altitude climate is quite cold specially in winters while the lower mesas has moderate tropical weather. The Huichols mostly remain in their ranchos built on a suitable elevation from the ground which keeps them safe from the extreme temperatures. One of the main problems the Huichols face is the shortage of water on high altitudes. In summers they move to their ranches built at a little higher elevation as the climate around the river gets very hot and humid. D. Flora and Fauna The plants found in the Huichol region are quite diverse.The most important among the flora of this region is the divine cactus. Its common names are â€Å"Peyote†, â€Å"Buttons† and â€Å"Mescalito†. This small spine-less, crown-shaped cactus grows under bushes and is of a gray-green color. It has hallucinogenic powers and belongs to the family of â€Å"cactaceae†. CITATION Lat \l 1033 CITATION Lat \l 1033 Another common plant of this area is Lavendar Pebbles or Graptopetalum amethystinum. This plant grows slowly but steadily. CITATION Lat \l 1033 The area is abundant in pine-oak forests. This region has a variety of plants both of mountaineous regions as well as deserts. In the lower parts the subtropical genres include Acacia, Ficus, Agave and Bursera along with many such kinds. CITATION Lat \l 1033 The fauna of these regions include the various wildlife species including jaguar, pumas, white-taled deers, white boars, skunks, iguanas and rabbits. Yellow winged Cacique is also a native bird of this area along with Black-Throated Magpie jay. CITATION Lat \l 1033 III. Population Characteristics A.