Bloom’s Version Bloom’s Taxonomy was created by Benjamin Bloom in 1956. Bloom identified that there were three categories of learning. Cognitive: Mental skills (knowledge) Affective: Growth in feelings or emotional areas (attitude) Psychomotor: Manual or physical skills (skills). Bloom and his committee created these learning domains strictly for academic context. The design was used to develop a system of learning behaviors to assist in designing educational learning. Teachers can
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typical average variable cost curve? m) A n) B o) C p) D 5) The production method that produces a given level of output at the lowest possible cost is considered: q) economically efficient. r) allocatively efficient. s) technically efficient. t) profitably efficient. 6) The envelope relationship in chapter 13 describes: u) the relationship of management to workers. v) the relationship between the long run average cost
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system and delivered products on time to the OEM. In 1997, due to the high overhead cost in HP in house production, HP outsourced one of its products DDS1 to contract manufacturer. The low overhead cost in the contract manufacturer could give a low average total cost and helped HP to obtain a high profit margin. At first, the cooperation went on well, however, after HP outsourced DDS 3 to the CM, there appeared some problems. The performance went down in the CM that worsened the relationship between
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= TC – VC AVC (Average Variable Cost) = VC/Q AFC (Average Fixed Cost) = FC/Q ATC (Average Total Cost) = TC/Q or AFC + AVC MC (Marginal Cost) = (change in TC)/(change in Q) b) What is the relationship between ATC and MC, if ATC is decreasing as output increases? Specifically, can we tell if one is higher than the other? Why? When ATC is decreasing, MC is less than ATC. This is because the cost of producing each additional unit, represented by marginal cost, is less than the average cost of production
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Exercise 8 Solution Chapter 10 Technology, Production, and Costs 10.1 Technology: An Economic Definition 1) A firm has successfully adopted a positive technological change when A) it can produce more output using the same inputs. B) it produces less pollution in its production process. C) can pay its workers less yet increase its output. D) it sees an increase in worker productivity. Answer: A Comment: Recurring Diff: 2 Page Ref: 326/326 Topic: Technological
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b e. both a and c 2 In a perfectly competitive industry the market price is $25. A firm is currently producing 10,000 units of output; average total cost is $28, marginal cost is $20, and average variable cost is $20. The firm should a. raise price because the firm is losing money. b. keep output the same because the firm is producing at minimum average variable cost. c. produce more because the next unit of output increases profit by $5. d. produce less because the next unit of output decreased
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I'm sorry for giving you one word replies. I'm sorry for not having a smart phone to give you video calls. I'm sorry for not having enough credit to give you good night calls. I'm sorry that I couldn't drive and take you out. I'm sorry I did not take much photos with you. I'm sorry for being so far from you that I can't be there for you. I'm sorry for the 4 years of waiting. Im sorry for falling for you. I'm sorry I did not open up much to you. I'm sorry for not doing the right things while I could
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America is a lot better than it was 50 years ago. Although America had had some setbacks in the past, we now have much better lives. We have more advanced technology that improves our lives, medicines that cure diseases that Americans couldn't cure 50 years ago, better educations for children, and the economy today has improved substantially during these few years. More opportunities for a better life today in America there are plenty of jobs/careers that people are looking for. Some years ago you
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ISL233-M KRO KT SAT-UYGULAMA DERS -7 29.11.2011 38. Acme Container Corporation produces egg cartons that are sold to egg distributors. Acme has estimated this production function for its egg carton division: Q = 25L0.6K0.4, where Q = output measured in one thousand carton lots, L = labor measured in person hours, and K = capital measured in machine hours. Acme currently pays a wage of $10 per hour and considers the relevant rental price for capital to be $25 per hour. Determine the optimal
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technology enhance the productivity. (b) The industry with strong economies of scale has the capability to process production at feasible minimum average cost. Namely, when firms increase their production output, they can produce at a lower cost per unit. For the fixed cost associated with the corresponding production scale, it decreases in average. As the motorcar becomes ordinary transport acquired by people, the demand for motorcar is gets larger than the demand for trucks. It leads to larger
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