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Consider the following opinion expressed by a farmer:
"All this talk about businesses wanting to maximise profits doesn't hold water for me. As a farmer who has a 30 year history of growing vegetables in the Adelaide Hills, I have found that most years I was lucky if I met my weekly wage bill and other incidental costs. Most of my time was spent watching for new vegetables that were doing well in the market so that I could switch production to them. Unfortunately other growers were doing the same thing and so, by harvest time I was back trying to find enough sales revenue to meet those weekly costs again! How can you maximise profits when the revenue side of your business is captive to the fixed price you get in the market and the size of your fields? The only small growers who seem to survive over time are those who sell out to the larger food conglomerates and any profits they seem to make come from their ability to reduce their costs by farming on a large scale."
Use your understanding of the meaning of profits and the objective of profit maximisation to explain the conditions that govern survival vs shutdown for a price-taking firm in the short run. Pass comment as well on the grower's view that survivability of price-taking firms depends on minimising costs in the long run.
On the first day of development, September 20, 2003, one of the construction workers, Buster, loses a ring as he is hammering a nail into a wall.
You currently serve as an IT Security intern for a military defense contractor called Military Delivery Logistics (MDL) based in Washington, D.C. Because your organization contracts with the U.S. military, the organization is required to perform r..
When a debt is secured by property as collateral and the debtor defaults, the creditor may
1-Intermodal Carriers (IMC's) have many disadvantages and careful due diligence should be used. Compare and contrast the advantages and disadvantages of Intermodal transportation.
Explain the importance of your field in today's society. In your future research and professional career describe how you would advance diversity in science and technology benefiting the region and thus creating a global impact.
Asked by senior management to assess your organization's current conflict resolution and mediation processes. How would you assess, present, and analyze your findings for this group
Create a new product for an existing organization and analyze current competitors and define the competitive landscape for the product.
How do messages get altered as they move from subordinates to superiors?
Description of the industry and identification of areas for growth and strategic advantage A. The global structure and environment of the selected industry.
The loan must be repaid in equal monthly payments at the end of the month. The annual interest rate on the loan is 6.21 percent of the unpaid balance. What is the amount of the monthly payments? Round the answer to two decimal places.
Develop a specific plan for implementing the chosen alternative. Your plan should be specific, measurable, achievable, relevant, and time-bound.
Explain the unwritten rules and shared values that govern behaviors in the organization. Do they act as enablers or blockers to the strategy?
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