Correlation Between Motivational Factors For Athletes And...

Furthermore, just as there are motivational factors for athletes, and that there are also different attitudes or beliefs that athletes might have towards certain facets, such as doping or wanting to be successful. It is imperative that one understands that those same factors and or facets are quite similar if not identical to the factors and or facets associated with those athletes. Going forward, there will be an in depth examination of the correlation between motivational factors for athletes and those of sport ministries. Sport ministries can be defined as, activity put on by an organization that occurs during a person’s leisure time, that has a specific purpose and or deliberate intention of assisting individuals become conscious of†¦show more content†¦As stated before, although the motivational factors are quite similar to the factors affecting athletes, I believe it to be of dyer importance to depict the motivational factors for a sports ministry from a theo logical perspective. There are four distinctive theological motivations for sport ministry and they are creation, worship, redemption, and liberty and experience. With regards to creation in sports ministry, one must understand that it consist of two different levels. XXXXXX These levels of creation can either be micro-creation or macro-creation. For example God can be glorified through sport because he created it. Therefore, anything created by God can give him praise. This is why athletes can glorify God because; they have been created by the creator (God). Consequently, a micro level of creation would be an athlete using his or her talents to be successful but, with sport ministry that individual is a mere reflection of Christ, because Christ was the one who gave said individual the gift to begin with. Genesis 1:27-28 makes references to micro-creation when it says, â€Å"So God created man in his own image, in the image of God created he him; male and female created he them. And God blessed them, and God said unto them, Be fruitful, and multiply, and replenish the earth, and subdue it: and have dominion over the fish of the sea, and over the fowl of the air, and over every living thing that moveth upon the earth† (KJV, 2001). Being a reflection of Christ

Invention of the Push Pin

The push pin was invented and patented in 1900 by Edwin Moore, in Newark, New Jersey. Moore founded the Moore Push-Pin Company with only $112.60. He rented a room and devoted each afternoon and evening to making push pins, an invention he described as a pin with a handle. In his original patent application, Moore described push pins as pins whose body portion can be firmly held by the operator when inserting the device, all liability of the operators fingers slipping and tearing or marring the film being removed. In the mornings, he sold what he had made the night before. His first sale was one gross (a dozen dozens) of push-pins for $2.00. The next memorable order was for $75.00, and his first major sale was for $1,000 worth of push pins, to the Eastman Kodak Company. Moore made his push pins from glass and steel.   Today push pins, also known as thumbtacks or drawing pins, are used widely in offices across the word. Moore Push-Pin Company As soon as he was well established, Edwin Moore began advertising. In 1903, his first national advertisement appeared in The Ladies Home Journal at a cost of $168.00. The company continued to grow and was incorporated on July 19, 1904, as the Moore Push-Pin Company. Over the next few years, Edwin Moore invented and patented many other items, such as picture hangers and map tacks. From 1912 through 1977, the Moore Push-Pin Company was located on Berkeley Street in Germantown, Philadelphia. Today, the Moore Push-Pin Company occupies a large, well-equipped plant in Wyndmoor, Pennsylvania, a suburb of Philadelphia. The business is still exclusively devoted to the manufacturing and packaging of little things.

Renewable Power Generation Can Help Countries Meet Their...

INTRODUCTION 1.1 INTRODUCTION Renewable power generation can help countries meet their sustainable development goals through provision of access to clean, secure, reliable and affordable energy. Renewable energy has gone mainstream, accounting for the majority of capacity additions in power generation today. Tens of gigawatts of wind, hydropower and solar photovoltaic capacity are installed worldwide every year in a renewable energy market that is worth more than a hundred billion USD annually. Other renewable power technology markets are also emerging. Recent years have seen dramatic reductions in renewable energy technologies’ costs as a result of research and development (RD) and accelerated deployment. The development of wind†¦show more content†¦In 2015, Egypt added 200 MW of new wind power, bringing the country’s total wind capacity to 810 MW. Egypt’s wind farms are located in three regions along the Red Sea coast: the biggest one is the 545 megawatt Zafar Ana wind farm consisting of 700 turbines; the 200 MW Gabal El Zayet wind farm was inaugurated in November 2015, and consists of 134 turbines; and the 5 MW Hurghada wind farm. By the end of 2015 South Africa had over 500 wind turbines producing a total of 1GW (Fried, et al., 2015). By the end of 2015 the number of countries with more than 1,000 MW installed capacity was 26: including 17 in Europe; 4 in Asia-Pacific (China, India, Japan Australia); 3 in North America (Canada, Mexico, US), 1 in Latin America (Brazil) and 1 in Africa (South Africa). By the end of the same year eight countries had more than 10,000 MW of installed capacity including China (145,362 MW), the US (74,471 MW), Germany (44,947 MW), India (25,088 MW), Spain (23,025 MW), UK (13,603 MW), Canada (11,205 MW), and France (10,358 MW) (Fried, et al., 2015). 1.2 BACKGROUND Zimbabwe has a low average annual wind speed of 3 m/s. Midlands has considerably higher wind speeds than the rest of the country, between 3m/s and 6m/s. This speed can be considered low for power generation (Hove, et al., 2014). The designs of industrial wind turbines on the market today work at wind speeds that are above the midlands average. Current turbine designs are not well suited for suchShow MoreRelatedA Critical Analysis Of Sustainable Development Strategies1634 Words   |  7 PagesA Critical Analysis of Sustainable Development Strategies in Morocco Introduction Morocco is a developing country located in the Maghreb region of North Africa. The Moroccan economy is predominantly reliant in agriculture, however in recent times the country has been forced to expand and diversify this due to environmental pressures (African Development Bank 2012). These pressures have been caused by a variety of factors including increased population growth and a heavy reliance on fossil fuels forRead MoreSustainability and Walmart1602 Words   |  7 PagesFrancois, Chris Hiniker, George Lance FIN370 July 29, 2013 Laura Haase Walmart’s Strategic Initiative Strategic planning is a goal of most if not all companies that exist. Some may use this form of planning on a small scale and meet about things such as improving satisfaction ratings or improving the company’s website. Others meet about larger goals that can change and improve the image and branding of a company. That is the case with Walmart. According to Walmart (2013), the company has beenRead MorePolicy Brief On Sustainable Energy And Green Industry Puerto Rico1703 Words   |  7 PagesPolicy brief on sustainable energy/green industry Puerto Rico Purpose section According to United Nations Industrial Development Organization (UNIDO) the term green industry is defined as an industry that ensures sustainable and viable future with no harm on our environment (UNIDO 2016). In Puerto Rico, manufacturing industry accounts for about 46.3 percent of Gross Domestic Product (GDP). This indicates that Puerto Rico is highly dependent on different manufacturing industries for its revenue. SimilarlyRead MoreCan Sustainable Energy and Fossil Fuel Co-Exist1389 Words   |  6 PagesCan Sustainable Energy and Fossil Fuel Co-Exist? In recent years, the question of America’s power source has been the topic on more than a few dinner and boardroom tables across the country. In fact, it is even talked about in the offices of governors and the POTUS. The reason why so many people are raising this question is the rise in petroleum prices and the depletion of natural resources. The rising prices of petroleum is not a new thing; It has happening for decades, but the American peopleRead MoreSustainable Opportunities For Reducing Carbon Emissions And Climate Change Essay1388 Words   |  6 PagesTruth). This popular awareness and urgency is spurring change in every corner of society as governments, organizations, and individuals reexamine their impacts on the environment and adopt sustainable or green measures to reduce those impacts. Every aspect of life must be reexamined to determine sustainable opportunities for reducing carbon emissions and climate change through conservation practices and alternative techn ologies, such as biofuels. Although the collective focus on sustainabilityRead MoreRole of Australias Government Renewable Energy and Sustainable Development2646 Words   |  11 Pages1 II- Rationale: Renewable energy and sustainable development 2 III- Why Australian Government should lead the initiative? 4 IV- Governmental initiatives 6 V- Supply side interventions: Rebates and feed-in tariffs 8 VI- Conclusion 10 Bibliography 11 Introduction Renewable energy is derived from sources that are naturally replenish-able and supply of energy from these sources is infinite. The main purposes served by using renewable energy are many such as generation of power, transport fuelRead MoreSustainability in Mauritius7180 Words   |  29 PagesSustainable Mauritius Brundtland report (1987) has defined the term sustainable development as the development that meets the needs for the present without compromising the ability of the future generations to meet their own needs Sustainable development and planning is structured essentially around 3 elements: economic growth, social development and environmental protection. While development is associated with social development, it is also associated with environmental disasters if the developmentRead MoreThe Importance Of Producing A Sustainable Work System867 Words   |  4 Pagesproducing a sustainable work system to every company in all countries. It is extremely important for companies to assimilate and balance out their social, environment, and economic factors. The expansion of the population and the financial industries has led to an increase of stress on our natural resources. This is creating a severe challenge for the decades ahead which is why it is imperative for companies to enforce a sustainable work system. The Brundtland Commission described it as â€Å"development thatRead MoreWhy Did Lans Join Aseann1465 Words   |  6 PagesIn 1990s, Laos agreed and joined AFTA in order to join ASEAN, but was given longer time frames in which to meet AFTAs tariff reduction obligations [7]. AFTA, with its main goal, to increase ASEANs competiti ve edge as a production base in the world market through the elimination, within ASEAN, of tariffs and non-tariff barriers; and to attract more foreign direct investment to ASEAN, used the Common Effective Preferential Tariff (CEPT) scheme as the main mechanism, which comprises a schedule forRead MoreSustainability Position Paper : Natural Resources And Technology1652 Words   |  7 PagesWe live in a developed world where natural resources as being consumed very fast and this is something that needs to change. Sustainability is also about thinking what the long term effects of our actions will have in the coming future. The mains goals of sustainability are: to end poverty, improve healthcare, increase education and develop economic growth. This essay will discuss natural resources and overpopulation and how they will affect the coming future. Natural Resources and Sustainability

Family Therapy By Michael P Nichols Essay - 2048 Words

Family is something that plays a tremendous role in our life. Even though the structure of families has changed over the years, it is important to acknowledge that there many families out there whether they are traditional families, nuclear family, stepfamilies or others which tend to have different types of problems in their families. Therefore, many families attempt to go to family therapy in order for them to obtain help in solving the different types of issues they might have at home. As stated in the book Family Therapy by Michael P. Nichols (2013), â€Å"The power of family therapy derives from bringing parents and children together to transform their interaction†¦ What keeps people stuck in their inability to see their own participation in the problems that plague them. With eyes fixed firmly on what recalcitrant others are doing, it’s hard for most people to see the patterns that bind them together. The family therapist’s job is to give them a wake-up ca ll† (2013). To complete the movie analysis assignment I decided to use a fantasy comedy movie called Matilda (1996 Film) by Danny DeVito. Matilda family is an ordinary family with a mother, father and a brother. Matilda Wormwood is a genius girl, who lives with both of her parents. Her father Harry, who is a car salesman and Zinnia the mother, who has a tremendous love and need of playing bingo, and her older brother Michael. During this film we can observe different types of family dynamics such as gender factors. ForShow MoreRelatedThe Benefits of Narrative Therapy Essay1873 Words   |  8 PagesNarrative Therapy In the early 80’s a new theory garnered acclaim in psychotherapeutic circles. It is called Narrative therapy and has its roots in a postmodern idea known as constructivism. 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Is there water and life on mars Free Essays

Unlike Earth, since there are no oceans to obscure the planet Mars, its topography is now better explored and known than that of Earth (Australian Geographic 2003). It has the largest known volcano in the Solar System, Olympus Mons, three times as high as Mt Everest, arid the longest and deepest known canyon, Valles Marineris, 4000 km long and 10 km deep (Australian Geographic 2003). Mars has no continental plate movement, so its surface isn’t constantly reworked by mountain-building processes. We will write a custom essay sample on Is there water and life on mars? or any similar topic only for you Order Now As a result, much of the landscape is as it was billions of years ago (Australian Geographic 2003). NASA researchers are taking lessons from the debate about life on Earth to Mars. Their future missions will incorporate cutting-edge biotechnology designed to detect individual molecules made by Martian organisms, either living or long dead (Zimmer 2005). The search for life on Mars has become more urgent thanks in part to probes by the two rovers now roaming Mars’ surface and another spaceship that is orbiting the planet. In recent months, they’ve made a series of astonishing discoveries that, once again, tempt scientists to believe that Mars harbors life or did so in the past. At a February conference in the Netherlands, an audience of Mars experts was surveyed about Martian life. Some 75 percent of the scientists said they thought life once existed there, and of them, 25 percent think that Mars harbors life today (Zimmer 2005). The search for the fossil remains of primitive single-celled organisms like bacteria took off in 1953, when Stanley Tyler, an economic geologist at the University of Wisconsin, puzzled over some 2.1 billion-year-old rocks he’d gathered in Ontario, Canada (Zimmer 2005). His glassy black rocks known as cherts were loaded with strange, microscopic filaments and hollow balls. Working with Harvard paleobotonist Elso Barghoorn, Tyler proposed that the shapes were actually fossils, left behind by ancient life-forms such as algae. Before Tyler and Barghoorn’s work, few fossils had been found that predated the Cambrian Period, which began about 540 million years ago (Zimmer 2005). Now the two scientists were positing that life was present much earlier in the 4.55 billion-year history of the planet. How much further back it went remained for later scientists to discover (Zimmer 2005)? In the next decades, paleontologists in Africa found 3 billion-year-old fossil traces of microscopic bacteria that had lived in massive marine reefs (Zimmer 2005). Bacteria can also form what are called biofilms, colonies that grow in thin layers over surfaces such as rocks and the ocean floor, and scientists have found solid evidence for biofilms dating back 3.2 billion years (Zimmer 2005). Fluvial Landforms geologic features putatively formed by water were identified in images of Mars taken by the Mariner and Viking spacecraft in the 1970s (Bell 2006). These landforms included enormous channels carved by catastrophic floods and large-scale valley networks somewhat reminiscent of river drainage systems on Earth. Over the past decade, images from the Mars Global Surveyor, which has been orbiting Mars since 1997, have revealed spectacular examples of extremely small and seemingly young gullies formed in the walls of some craters and canyons. These observations indicate the past presence of liquid water on the Martian surface or just below it but not necessarily for long periods (Bell 2006). The water from the catastrophic floods, for example, may have lasted only a few days or weeks on the surface before freezing, seeping back into the ground or evaporating. Furthermore, the networks of river-like valleys shown in the Viking orbiter images do not have the same characteristics as terrestrial river valleys when seen at higher resolution (Bell 2006). The Martian valleys could have formed entirely from subsurface water flow and ground erosion a process known as sapping-rather than from water moving over the surface. The gullies observed in the Mars Global Surveyor’s images may also be the result of water seeping underground below ice or from buried snow deposits (Bell 2006). Although these features are stunning and dramatic indicators of water on Mars, they do not firmly prove that the Red Planet once had a warmer, wetter, more Earth-like environment with long-lasting lakes and rivers. In the past few years, however, new satellite images have provided much more convincing evidence that stable, Earthlike conditions prevailed on Mars for long periods (Bell 2006). One of the most exciting discoveries is a class of features that look like river deltas. The best and largest example, photographed by the Mars Global Surveyor, is at the end of a valley network that drains into Eberswalde Crater in a region southeast of the Valles Marineris canyon system (Bell 2006). This drainage system terminates in a 10-kilometer-wide, layered, fan-shaped landform characterized by meandering ridges that crosscut one another and show varying degrees of erosion. To many geologists, this feature has all the characteristics of a delta that formed at the end of a sediment-bearing river flowing into a shallow lake. Further evidence of an Earth-like climate in Mars’s past comes from high-resolution images, taken by the Mars Odyssey and Global Surveyor orbiters, of the small-scale valley networks on the plateaus and walls of the Valles Marineris canyon system. Unlike previously identified valley networks that seem to have formed largely from subsurface flow, these newly found networks have characteristics that are consistent with their formation by rainfall or snowmelt and surface runoff. For example, the networks are arranged in dense, branching patterns, and the lengths and widths of the valleys increase from their sources to their mouths. Moreover, the sources are located along the ridge crests, suggesting that the landscape was molded by precipitation and runoff. Indeed, these landforms provide the best evidence to date that it may have rained on Mars. A more exploratory possibility is that these runoff features arose relatively recently, perhaps one billion to 1.5 billion years after Mars formed. To estimate the ages of Martian landforms, researchers count the number of impact craters on the feature the more impacts the region has endured, the older it is. This dating method, however, has many uncertainties; it can be difficult to distinguish between primary and secondary impact craters and volcanic calderas, and erosion has destroyed the evidence of craters in some regions (Bell 2006). Still, if these surface runoff valleys do turn out to be relatively young, Mars may have had an Earth-like climate for as much as a third of the planet’s history and perhaps longer if even younger valleys are eventually identified. Yet another piece of evidence supporting persistent liquid water on Mars is the observation of truly enormous amounts of erosion and sedimentation in many parts of the planet. Making calculations based on new orbital imaging data, researchers have determined that the rate at which sediments were deposited and eroded in the first billion years of the planet’s history may have been about a million times as high as the present-day rate (Bell 2006). But what process could have transported the massive amount of sediment needed to bury almost everything in the Gale Crater region? (Bell 2006) Scientists believe flowing water offers the best explanation. Studies of erosion and sedimentation rates on Earth suggest that wind could have moved some of the Martian sediment in the past (just as it is doing today, albeit at a very slow pace). No viable wind-based scenario, however, can explain the rapid transport of millions of cubic kilometers of material across large fractions of the planet’s surface, which apparently occurred repeatedly during Mars’s early history. Flowing water, though, has routinely moved gargantuan amounts of sediment on Earth and could have done so on the Red Planet as well. In addition scrutinizing the shape of Martian landforms, scientists have searched for hints of liquid water in the composition of the planet’s minerals (Bell 2006). One of the reasons why researchers had long believed that Mars never enjoyed an extensive period of warm and wet climate is that much of the surface not covered by wind-borne dust appears to be composed of material that is largely unweathered pristine volcanic minerals such as olivine and pyroxene. If water had flowed over the surface for a long time, the argument went, it would have chemically altered and weathered the volcanic minerals, creating clays or other oxidized, hydrated phases (minerals that incorporate water molecules or hydroxide ions in their crystal structure). The emerging paradigm is that Mars had an extensive watery past: puddles or ponds or lakes or seas (or all of them) existing for long periods and exposed to what must have been a thicker, warmer atmosphere. During the first billion or so years of Martian history, the Red Planet was a much more Earth-like place, probably hospitable to the formation and evolution of life as currently known. The Martian environment began to change, however, as sulfur built up, the waters became acidic and the planet’s geologic activity waned (Bell 2006). Clays gave way to sulfates as the acid rain (of sorts) continued to alter the volcanic rocks and break down any carbonates that may have formed earlier. Over time, the atmosphere thinned out; perhaps it was lost to space when the planet’s magnetic field shut off, or maybe it was blown off by catastrophic impacts or sequestered somehow in the crust. Mars eventually became the cold, arid planet recognized today. This new view of Mars is not yet universally accepted, however. Key questions remain unanswered (Bell 2006): How long did the waters flow in the Eberswalde delta; for decades or millennia? Where are all the sediments that appear to have been eroded from Meridiani Planum and places such as Gale Crater? And were they eroded by water or wind or something else? What is the global abundance of clay minerals on Mars, and were they ever major components of the planet’s crust? And, most vexing, where are the carbonates that should have formed in the warm, wet, carbon dioxide-rich environment but have not yet been observed anywhere on Mars, not even in the older terrains where clays have been detected? Acidic water could have destroyed the bulk of the carbonates but surely not all of them! Perhaps the most important question of all is: Did water or life ever exist on Mars, and if so, was it able to evolve as the environment changed so dramatically to the present-day climate? (Bell 2006) The answer depends in large part on how long the Earth-like conditions lasted. What can be deduced is that the past decade of discoveries on Mars may be only a small taste of an even more exciting century of robotic and eventually human exploration. References Australian Geographic, (2003) Life on Mars. 08161658, Jul-Sep2003, Issue 71 Bell, J., (2006) The Red Planet’s Watery Past. Scientific American, 00368733, Dec2006, Vol. 295, Issue 6 Zimmer, C., (2005) Life on Mars? Smithsonian, 00377333, May2005, Vol. 36, Issue 2 How to cite Is there water and life on mars?, Essay examples

Asymmetric Information free essay sample

Asymmetric Information Introduction. The economics of information and incentives is a relatively new branch of microeconomics, in which much intriguing work is going on. This chapter shows you a sample of these problems and the way that economists think about them. 37. 1 (0) There are two types of electric pencil-sharpener producers. â€Å"High-quality† manufacturers produce very good sharpeners that consumers value at $14. â€Å"Low-quality† manufacturers produce less good ones that are valued at $8. At the time of purchase, customers cannot distinguish between a high-quality product and a low-quality product; nor can they identify the manufacturer. However, they can determine the quality of the product after purchase. The consumers are risk neutral; if they have probability q of getting a high-quality product and 1 ? q of getting a low-quality product, then they value this prospect at 14q + 8(1 ? q). Each type of manufacturer can manufacture the product at a constant unit cost of $11. 50. All manufacturers behave competitively. Suppose that the sale of low-quality electric pencil-sharpeners is illegal, so that the only items allowed to appear on the market are of high quality. What will be the equilibrium price? $11. 50. (b) Suppose that there were no high-quality sellers. How many low-quality sharpeners would you expect to be sold in equilibrium? Sellers won’t sell for less than $11. 50, consumers won’t pay that much for low-quality product. So in equilibrium there would be no sales. (c) Could there be an equilibrium in which equal (positive) quantities of the two types of pencil sharpeners appear in the market? No. Average willingness to pay would be $11, which is less than the cost of production. So there would be zero trade. 454 ASYMMETRIC INFORMATION (Ch. 37) (d) Now we change our assumptions about the technology. Suppose that each producer can choose to manufacture either a high-quality or a low-quality pencil-sharpener, with a unit cost of $11. 50 for the former and $11 for the latter, what would we expect to happen in equilibrium? No trade. Producers would produce the low-quality product since it has a lower production cost. If all producers produce low-quality output, costs will be $11 and the willingness-to-pay for low quality is $8. Assuming that each producer is able to make the production choice described in the last question, what good would it do if the government banned production of low-quality electric pencil-sharpeners? If there is no ban, there will be no output and no consumers’ surplus. If low-quality products are banned, then in equilibrium there is output surplus. 37. 2 (0) In West Bend, Indiana, there are exactly two kinds of workers. One kind has a (constant) marginal product worth $10 and the other kind has a (constant) marginal product worth $15. There are equal numbers of workers of each kind. Arm cannot directly tell the diference between the two kinds of workers. Even after it has hired them, it won’t be able to monitor their work closely enough to determine which workers are of which type. (a) If the labor market is competitive, workers will be paid the average value of their marginal product. This amount is and positive consumers’ $12. 50. (b) Suppose that the local community college o? ers a microeconomics course in night school, taught by Professor M. De Sade. The highproductivity workers think that taking this course is just as bad as a $3 wage cut, and the low-productivity workers think it is just as bad as a $6 wage cut. T In the old days, there was no way to distinguish the two types of labor, so everyone was paid the same wage. If labor markets were competitive, what was this wage? $1,500 456 ASYMMETRIC INFORMATION (Ch. 37) (a) A professor who loves to talk o? ered to give a free monthly lecture on macroeconomics and personal hygiene to the employees of one small ? rm. These lectures had no e? ect on productivity, but both Klutzes and Kandos found them to be excruciatingly dull. To a Klutz, each hour’s lecture was as bad as losing $100. To a Kando, each hour’s lecture was as bad as losing $50. Suppose that the ? rm gave each of its employees a pay raise of $55 a month but insisted that he attend the professor’s lectures. What would happen to the ? rm’s labor force? All Klutzes terms. happen would leave. Kandos would stay on. More Kandos could be hired at these to the average productivity of the ? rm’s employees? Klutzes would not accept job. What would $1,000from $1,500 to $2,500. Rise by (b) Other ? rms noticed that those who had listened to the professor’s lectures were more productive than those who had not. So they tried to bid them away from their original employer. Since all those who agreed to listen to the original lecture series were Kandos, their wage was bid up to $2,500. (c) After observing the â€Å"e? ect of his lectures on labor productivity,† the professor decided to expand his e? orts. He found a huge auditorium where he could lecture to all the laborers in Enigma who would listen to him. If employers believed that listening to the professor’s lectures improved productivity by the improvement in productivity in the ? rst small ? rm and o? ered bonuses for attending the lectures accordingly, who would attend the lectures? Everybody. Having observed this outcome, how much of a wage premium would ? rms pay for those who had attended the professor’s lectures? 0. (d) The professor was disappointed by the results of his big lecture and decided that if he gave more lectures per month, his pupils might â€Å"learn more. † So he decided to give a course of lectures for 20 hours a month. Would there now be an equilibrium in which the Kandos all took his course and none of the Klutzes took it and where those who took the course were paid according to their true productivity? Yes. If  those who take the course get $2,500 and people who do not get $1,000 a month, then Kandos would take the course, since the NAME 457 pain of 20 hours of lecture costs $1,000, but the wage premium is $1,500. Klutzes the pain would not take the course, since wage premium is $1,500. 15 hours of lectures costs $2,000 a month and the (e) What is the smallest number of hours the professor could lecture and still maintain a separating equilibrium? 37. 4 (1) Old MacDonald produces hay. He has a single employee, Jack. If Jack works for x hours he can produce x bales of hay. Each bale of hay sells for $1. The cost to Jack of working x hours is c(x) = x2 /10. (a) What is the e? cient number of bales of hay for Jack to cut? 5. (b) If the most that Jack could earn elsewhere is zero, how much would MacDonald have to pay him to get him to work the e? cient amount? 52 /10 = $2. 50. (c) What is MacDonald’s net pro? t? 5 ? 2. 50 = $2. 50. (d) Suppose that Jack would receive $1 for passing out lea? ets, an activity that involves no e? ort whatsoever. How much would he have to receive from MacDonald for producing the e? cient number of bales of hay? Suppose now that the opportunity for passing out lea? ets is no longer available, but that MacDonald decides to rent his hay? eld out to Jack for a ? at fee. How much would he rent it for? $2. 50. 37. 5 (0) In Rustbucket, Michigan, there are 200 people who want to sell their used cars. Everybody knows that 100 of these cars are â€Å"lemons† and 100 of these cars are â€Å"good. † The problem is that nobody except the original owners know which are which. Owners of lemons will be happy to get rid of their cars for any price greater than $200. Owners of good used cars will be willing to sell them for any price greater than $1,500, but will keep them if they can’t get $1,500. There are a large number of buyers who would be willing to pay $2,500 for a good used car, but would pay only $300 for a lemon. When these buyers are not sure of the quality of the car they buy, they are willing to pay the expected value of the car, given the knowledge they have. 458 ASYMMETRIC INFORMATION (Ch. 37) (a) If all 200 used cars in Rustbucket were for sale, how much would buyers be willing to pay for a used car? $1,400. Would owners  of good used cars be willing to sell their used cars at this price? Would there be an equilibrium in which all used cars are sold? Describe the equilibrium that would take place in Rustbucket. No. No. Good car owners won’t sell. sell. Lemon owners will Price of a used car will be $300. (b) Suppose that instead of there being 100 cars of each kind, everyone in town is aware that there are 120 good cars and 80 lemons. How much would buyers be willing to pay for a used car? $1,620. Would owners of good used cars be willing to sell their used cars at this price? Yes. Yes.sold? Would there be an equilibrium in which all used cars are sold? Would there be an equilibrium in which only the lemons were Describe the possible equilibrium or equilibria that would Yes. take place in Rustbucket. One equilibrium has all cars sold at a price of $1,620. There is also an equilibrium where only the lemons are sold. 37. 6 (1) Each year, 1,000 citizens of New Crankshaft, Pennsylvania, sell their used cars and buy new cars. The original owners of the old cars have no place to keep second cars and must sell them. These used cars vary a great deal in quality. Their original owners know exactly what is good and what is bad about their cars, but potential buyers can’t tell them apart by looking at them. Lamentably, though they are in other respects model citizens, the used-car owners in New Crankshaft have no scruples about lying about their old jalopies. Each car has a value, V , which a buyer who knew all about its qualities would be willing to pay. There is a very large number of potential buyers, any one of which would be willing to pay $V for a car of value $V. The distribution of values of used cars on the market is quite simply described. In any year, for any V between 0 and $2,000, the number of used cars available for sale that are worth less than $V is V /2. Potential used-car buyers are all risk-neutral. That is if they don’t know the value of a car for certain, they value it at its expected value, given the information they have. NAME 459 Rod’s Garage in New Crankshaft will test out any used car and ? nd its true value V . Rod’s Garage is known to be perfectly accurate and perfectly honest in its appraisals. The only problem is that getting an accurate appraisal costs $200. People with terrible cars are not going to want to pay $200 to have Rod tell the world how bad their cars are. But people with very good cars will be willing to pay Rod the $200 to get their cars appraised, so they can sell them for their true values. Let’s try to ? gure our exactly how the equilibrium works, which cars get appraised, and what the unappraised cars sell for. (a) If nobody had their car appraised, what would the market price for used cars in North Crankshaft be and what would be the total revenue received by used-car owners for their cars? They’d  all sell for $1,000 for total revenue of $1,000,000. (b) If all the cars that are worth more than $X are appraised and all the cars that are worth less than $X are sold without appraisal, what will the market price of unappraised used cars be? (Hint: What is the expected value of a random draw from the set of cars worth less than $X? ) $X/2. (c) If all the cars that are worth more than $X are appraised and all the cars that are worth less than $X are sold without appraisal, then if your car is worth $X, how much money would you have left if you had it appraised and then sold it for its true value? How much money would you get if you sold it without having it appraised? $X/2. (d) In equilibrium, there will be a car of marginal quality such that all cars better than this car will be appraised and all cars worse than this car will be sold without being appraised. The owner of this car will be just indi? erent between selling his car unappraised and having it appraised. What will be the value of this marginal car? Solve X/2 = X ? 200 to get X = $400. (e) In equilibrium, how many cars will be sold unappraised and what will they sell for? The worst 200 cars will be will sell for $200. In equilibrium, what will be the total net revenue of all owners of used cars, after Rod’s Garage has been paid for its appraisals? $1, 000, 000 ? 800 ? 200 = 840, 000. 37. 7 (2) In Pot Hole, Georgia, 1,000 people want to sell their used cars. These cars vary in quality. Original owners know exactly what their cars are worth. All used cars look the same to potential buyers until they have bought them; then they ? nd out the truth. For any number X between 0 and 2,000, the number of cars of quality lower than X is X/2. If a car is of quality X, its original owner will be willing to sell it for any price greater than X. If a buyer knew that a car was of quality X, she would be willing to pay X + 500 for it. When buyers are not sure of the quality of a car, they are willing to pay its expected value, given their knowledge of the distribution of qualities on the market. (a) Suppose that everybody knows that all the used cars in Pot Hole are for sale. What would used cars sell for? $1,500. No. Would every Which used used car owner be willing to sell at this price? cars would appear on the market?

Principles of Marketing Assignment (Mktd101) free essay sample

MKTD101 Principles of Marketing Assignment 1: Overview For Assignment 1, which is worth 5% of your entire module mark, the student will have to choose a company that is marketing a product given in the list below. The student should research and write about the Marketing Environment the company operates in. Specific Instructions: ? ? ? The student should aim to write an essay of about 400 words (Â ±50) on the topic. All answers must be typed in Times New Roman font size 12, with single spacing, and 1inch margins. Remember to fill in the following details in the cover page: o Subject code title o Tutor name o Tutorial group o Student Name ID number o Title of your product/company o Deadline for the assignment (i. e. the day of your tutorial) The student should choose to write about only ONE of the following (the company that markets any of the products listed below): o Smartphone o Car o Computer/laptop o Digital camera ? Hand-in Instructions You will each be expected to individually submit a hardcopy of your assignment in class during the tutorial for the week of 15th to 19th August, 2011. We will write a custom essay sample on Principles of Marketing Assignment (Mktd101) or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page You will need to attach the hand-in assignment cover page to your course work. Assignment 1: Assessment Criteria One (1) mark each will be given for identifying and describing the factors related to the company/product as follows: The company’s microenvironment; the demographic environment; the economic and technological environment; the natural, political and social environment; the cultural environment. Assignment 1: Analyzing the Marketing Environment (Cover page) Subject code title: Tutor Name: Student Name ID Number: Title of product/company: Deadline for the assignment: (Day), (date), (month), (year) Tutorial group: (Contents) 1. Choose a product from the list given. Identify and describe the micro and macro environmental factors that affect the company that markets that product. Hints: State the name of the company and the specific product. What are the specific factors in the micro and macro environment that may have contributed to the success or problems of the company/product? 2. Write out the full Harvard reference for the paper you have written. E. g. Kotler, P Armstrong, G, 2012, Principles of Marketing, 14 ed. Prentice Hall, New Jersey. Refer to this URL for more guidance: http://library. taylors. edu. my/taylor_customize/Information_Skills/Reference/reference_mainpa ge. htm th 3. State the word count at the end of the essay in parentheses. E. g. (439 words)