The ethical dilemma in sport management can take many forms, and it is critical to recognise and address them. The use of steroid and performance-enhancing drugs is one of the most common ethical issues in sports.
The dilemma here is whether to ban athletes from using performance enhancement drugs or not. The problem is that athletes who use performance enhancement drugs have an unfair advantage over other athletes who do not use the drugs. This can lead to an uneven playing field, where some athletes have an advantage over others.
Moreover, the use of performance enhancement drugs can be harmful to athletes' health, leading to long-term health problems. Finally, the use of performance enhancement drugs can also tarnish the image of the sport, and the athlete's reputation can be affected.
The case is based on the situation where an athlete has been caught using performance enhancement drugs during a major sporting event. The athlete has been suspended, but there is a debate over whether the athlete should be banned from the sport or not.
The ethical dilemma here is whether the athlete should be given a second chance or not. The case can be found in various sports, including cycling, athletics, and weightlifting. This information can be obtained from various sources, including journals, books, and the internet.
Some of the relevant laws or codes to the ethical situation include the World Anti-Doping Agency's code, the Olympic Movement's code of ethics, and the International Association of Athletics Federation's code of conduct.
There are several solutions that can be used to address the ethical dilemma, including developing a strict code of conduct for athletes, providing better education for athletes on the dangers of performance enhancement drugs, and creating a system to detect the use of these drugs.
Testing the solutions can be done through research, including surveys, interviews, and experiments. The best solution to the ethical dilemma is to ban athletes from using performance enhancement drugs, as this will ensure that the sport is fair and that athletes' health is protected.
Finally, ways to prevent future ethical issues include conducting regular drug testing, increasing education for athletes, and strengthening the enforcement of the anti-doping code.
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What did Germany hope to gain through a European war?
Answer: Political strength and more territory
Explanation:
In the event of a European conflict, Germany hopes to win political power and additional land.
In social science and political power is the social creation of an impact that dictates an actor's capabilities, actions, beliefs, or behavior.
Power may be exercised through a variety of mechanisms, such as institutions, and is not always associated with the threat or use of force (coercion) by one person against another.
Power may also take structural forms, ordering actors in relation to one another (such as differentiating between a master and an enslaved person, a householder and their relatives, European conflict an employer and their employees, a parent and their child, a political representative and their voters, etc.),
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Although increasing group size often leads to less effort by individuals, sometimes it can lead to greater effort. This special case is called
Although increasing group size often leads to less effort by individuals, sometimes it can lead to greater effort. This special case is called social facilitation.
How and why does social facilitation happen?According to Norman Triplett's social facilitation hypothesis, a person's performance will change depending on whether or not there are observers present. Particularly, people often do better on straightforward or well-practiced jobs and worse on unfamiliar or difficult ones.
The two categories of social facilitation are what?Both co-action effects and audience effects are examples of social facilitation. Co-action effects: When having other people around who are working on the same thing makes one perform better. When one's performance improves only by having other people there to see them perform.
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what caused the holocaust and how didi it affect different ethnic groups
Answer:
the discrimination against jews
Answer: The Holocaust was caused by the political party— The Nazis — rising to power after World War I. They used deep rooted anti-semitism to exploit Jewish people, and used them as a the staple for Germany’s downfall. From there, the Jewish people were alienated, and seen as a stain on Germany. From there, they, along with disabled people and other ethnic groups, were taken to concentration camps and forced to do labor or die.
Explanation: If this is not correct or what you are looking for, I am incredibly sorry! <3
Solow growth model This problem asks you to use Excel to plot and examine the Cobb-Douglas production function Yt = F(Kt,Nt) = KtαN1−α, with α = 1. t3 (a) Create a table of numbers in an Excel worksheet. Let the rows represent a grid of values for capital, Kt = {0, 1, 2, 3, 4, 5}, and the columns represent a grid of values for labor, Nt = {0,1,2,3,4,5}. Then, fill in the 6×6 grid with the values of output, Yt = KtαN1−α, t using the value of Kt corresponding to that row and the value of Nt corresponding to that column (you should use "=(Row value)^(1/3)*(Column value)^(2/3)"). Comment on the properties of the production function ????F(Kt,Nt) = KtαN1−α????. t (b) Use Excel to create a plot of the production function. Use Excel’s "surface plot" (listed under "other charts" in the chart section) to create a 3-D plot of the grid of numbers created in (a). Label the x, y, and z axes and be sure that the grid marks on the three axes correspond to the actual values of Kt, Nt, and Yt. (c) Plot a "slice" (i.e. line plot) of the production function where Kt = 2. That is, for the row associated with Kt = 2, use a "line plot" to plot the values of output for each value of labor. Comment.
The Solow growth model looks at the Cobb-Douglas production function [tex]Y_t[/tex] = [tex]F(K_t, N_t)[/tex] = [tex]K_taN_1-a[/tex], with α = 1.
For part (a), when filling in the 6x6 grid with the values of output, [tex]Y_t = K_ta[/tex][tex]N_1-a[/tex], t using the value of [tex]K_t[/tex] corresponding to that row and the value of [tex]N_t[/tex] corresponding to that column, we can see that the properties of this production function are that output increases with both capital ([tex]K_t[/tex]) and labor ([tex]N_t[/tex]).
For part (b), we can create a 3D plot of the grid of numbers created in part (a) by using Excel's "surface plot" (listed under "other charts" in the chart section). We should label the x, y, and z axes and ensure that the grid marks on the three axes correspond to the actual values of [tex]K_t, N_t,[/tex]and [tex]Y_t[/tex]
For part (c), we can plot a "slice" (i.e. line plot) of the production function where [tex]K_t[/tex] = 2. That is, for the row associated with [tex]K_t[/tex] = 2, we can use a "line plot" to plot the values of output for each value of labor. We can see that output increases with labor.
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which social media platform has the greatest immediacy and is best for real-time information and breaking news?
Twit-ter is the social media site that offers the most immediate information and is the best for breaking news and real-time updates.
What are the many social media tools and platforms available?There are typically three different types of social media tools. Social media serves as venues for posting, for listening, and for conducting competitive analyses. Each tool approaches social media differently when used separately or in a alternate manner. They can support your company in achieving all of its commercial and social media objectives.
What device is most frequently used for social media marketing?One of the best social media marketing tools is BuzzSumo, which can help you think of fresh ideas for your social media postings. You can use it to uncover relevant influencers in your niche as well as trending material.
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In the last half of the twentieth century some United States cities experienced decline due to deindustrialization and loss of population due to suburbanization. To counteract the inner city decline, urban planners have embraced New Urbanism and mixed-use development to attract residents back to the city. Identify TWO goals of the New Urbanism movement. Explain the difference between mixed-use development and traditional zoning practices. Explain TWO benefits of mixed-use development in promoting urban growth. Explain TWO criticisms of New Urbanism
Answer that the half equals=0.5
Explanation:
it =0.5 because when you sub 23
Give an example of price discrimination or personalized pricing from your company or from your general experience. Explain the impacts on producers and consumers. Think about things like seller profitability, market share/market power, and be sure to think about the impact on consumer welfare/consumer surplus.
Price discrimination is a pricing strategy used by companies to maximize profit by charging different prices to different consumers based on their willingness to pay. An example of of price discrimination is airline pricing.
Price discrimination, also known as personalized pricing is the practice of charging different prices to different customers for the same product or service. It is a common practice that can be seen in many industries. One example of price discrimination is airline pricing.
For instance, airline companies sell tickets at different prices to different customers depending on factors like the time of purchase, time of travel, and demand. In general, airline pricing is personalized based on the customer's willingness to pay, which is determined by the market.
Price discrimination impacts producers by increasing their profitability. By charging higher prices to some customers and lower prices to others, producers can generate more revenue from their product. This increased revenue can be used to invest in the business or to reduce the price of the product in the future.
On the other hand, price discrimination impacts consumers by reducing their welfare. Some consumers may have to pay a higher price than others for the same product, which can result in a loss of consumer surplus. Consumers who cannot afford to pay the higher price may choose not to buy the product at all.
In conclusion, price discrimination can be beneficial for producers as it allows them to generate more revenue. However, it can have a negative impact on consumers by reducing their welfare. It is important to strike a balance between seller profitability and consumer welfare when implementing price discrimination.
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create a well-defined paragraph explaining why the Mayan civilization was extremely advanced for its time.
Include in your response proper CER format
Answer:
The Mayan civilization was extremely advanced for its time due to their remarkable achievements in mathematics, astronomy, architecture, and writing. They developed a complex calendar system that accurately predicted astronomical events and built impressive structures such as pyramids and temples that still stand today.
Explanation:
Delfina parked her car in a no-parking zone. Consequently, she received a ticket and had to pay a fine. What does this scenario BEST represent?
A. A norm
B. Cultural diffusion
C. A value
D. A sanction
Imagine being a soldier in the Army during the Civil War. Choose a side and keep a diary for one week. Or, if you'd rather, keep a diary for a few days from the point of view of a Confederate soldier, and then for a few days from the perspective of a Union soldier. Tell in your diary about the food you eat, the clothes you wear, the battles you fight, your comrades, conversations you have, whether you are having an adventure or wish to hurry back home, and any other experiences, thoughts, or feelings you may have about the war.
If you would prefer, you could do this assignment as a series of letters home to your family.
A soldier's existence during the Civil War wasn't simple. In addition to the potential for death in combat, soldiers' daily lives were also difficult.
Consider serving in the Army during the American Civil War. Choose a party, then journal for a week. Alternately, if you'd prefer, maintain diaries for a few days from the viewpoint of a Union soldier and then from that of a Confederate soldier. Write about the meals you have, the clothes you wear, the fights you participate in, your friends, the conversations you have, whether you are having fun or desire to return home quickly, and any other experiences, Democratic feelings, or thoughts you may have about the war in your diary. A soldier's existence during the Civil War wasn't simple. In addition to the potential for death in combat, soldiers' daily lives were also difficult.
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Decompose the total tax into the consumer’s share andproducer’s share for each of the goods. Is the consumer’s sharelarger for the good with elastic demand or for the good withinelastic deman
The total tax can be decomposed into the consumer’s share and the producer’s share for each of the goods. Generally speaking, the consumer’s share is larger for the good with elastic demand while the consumer’s share is smaller for the good with inelastic demand.
In order to decompose the total tax into the consumer's share and producer's share for each good, you need to know the price elasticity of demand.Elasticity of demand refers to how a change in price affects the quantity of a good or service demanded.
The responsiveness of consumers to changes in the price of a good or service is measured by the price elasticity of demand, which is a ratio of the percentage change in quantity demanded to the percentage change in price.Assume the tax is a fixed amount per unit, and the market for each good is competitive, which means that firms can only charge the prevailing price for their goods.
The producer's share of the tax will be equal to the tax per unit, and the consumer's share will be determined by the percentage of the price increase that results from the tax.Both producer's share and consumer's share are determined by the price elasticity of demand, and in each case, the share of the tax paid by consumers is greater for goods with more elastic demand than for goods with less elastic demand.
When demand is inelastic, firms can pass on more of the tax to consumers because they are less likely to respond to a price increase by reducing the quantity demanded.However, the consumer's share of the tax is greater for goods with more elastic demand because a larger percentage of the price increase is passed on to consumers in that case.
As a result, if demand is elastic, the producer's share of the tax is lower than if demand is inelastic.
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at the acme widget company, the top salesperson each month is rewarded with a private parking space by the front door of the company. using operant conditioning terms, the salesperson's behavior is being maintained by:
At the Acme Widget Company, top sellers are awarded a private parking space at the company's doorstep each month. In operant conditioning, a salesperson's behavior is maintained through "positive reinforcement."
What is positive reinforcementPositive reinforcement is a behavior modification technique aimed at increasing the likelihood of repeating a behavior by presenting a positive stimulus immediately after the desired behavior has been performed.
In this case, the seller's behavior of becoming a best-seller each month is maintained by positive reinforcement, rewarding a private parking space on the company's doorstep.
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Problem \#2 You are the manager of a firm that uses only labor and capital to produce your product. Assume you hire labor and you rent capital equipment in a very competitive market. You pay your employees at a wage rate of $20 per hour and you rent capital at $50 per hour. Assume the marginal product of capital is 150 units of output per hour and the marginal product of labor is 80 units of output per hour. Based on these information, clearly explain what you would do in your production process to minimize the cost of production. Explain your answer!
To minimize the cost of production, the manager should use the principle of substitution.
According to the principle of substitution, a factor with a higher marginal product should be used more intensively to reduce the cost of production in the production process.
Principle of substitutionThis concept of the principle of substitution states that a manager will use the cheaper resource for a given output level. The manager should use the principle of substitution.
This principle guides the manager in determining the most cost-effective way to produce a given output. Therefore, if the manager wants to minimize the cost of production, he should use the principle of substitution in the following way:
Capital should be used more intensively than labor because capital has a higher marginal product than labor. Using capital more intensively will reduce the amount of labor required to produce a given output. So, it will reduce the cost of production.So, if the manager wants to minimize the cost of production, he should use capital more intensively than labor. Thus, this will minimize the cost of production.
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Need help with this for a social studies paper
the relation of nature to nurture is the same as the relation of . a. cognition to emotion b. emotion to cognition c. environment to genetics d. genetics to environment
The relation of nature to nurture is the same as the relation of environment to genetics. So, the correct answer is option C. environment to genetics.
What is nature and nurture?The nature versus nurture debate is an age-old argument about whether a person's biological makeup or their environment has a more significant impact on their development. Nature refers to the genetic makeup of a person, which includes inherited traits and characteristics.
Nurture, on the other hand, refers to a person's environmental experiences, such as upbringing, schooling, and the culture in which they grow up. Both nature and nurture contribute to an individual's overall development, with genetics and environment working together to shape a person's physical, cognitive, and emotional development.
What is the relation of nature to nurture?The relation of nature to nurture is the same as the relation of environment to genetics. In other words, genetics and environment interact to influence an individual's development. While nature refers to a person's genetic makeup, nurture refers to the environmental factors that influence a person's development.
Both factors play a significant role in an individual's development, and they are inextricably linked. Nature provides the basic foundation for an individual's development, while nurture shapes the environment in which that development occurs.
In conclusion, the relationship between nature and nurture is comparable to the connection between environment and genetics. Therefore, the correct answer is option C. environment to genetics.
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Explain about difference between multiple housing and single housing in urban economics
The main difference between multiple housing and single housing in urban housing is the number of dwelling units they contain
1. Single Housing - This type of housing is also known as detached housing. It consists of a single dwelling unit occupied by one family. This type of house is more expensive as they give more privacy to the family or the person living.
2. Multiple housing - These types of houses consist of buildings that include more than one dwelling unit. Prime examples of this kind of house are apartments, townhouses, duplexes, etc.
The difference between single housing and multiple housing is paramount as it affects the demand and supply of housing in a particular area.
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Help me pls
study island
The body which held the power in feudal Japan was B. The Military.
How did the military control feudal Japan ?The body which held the power in feudal Japan was the military, specifically the samurai warriors who served the regional lords, known as daimyo. The samurai were the ruling class of feudal Japan and held significant political and social power.
They were responsible for maintaining law and order, protecting their daimyo's territories, and enforcing the social hierarchy. The shogun, or military commander, was the highest ranking samurai and held the ultimate political power in feudal Japan.
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The full question in text is:
The feudal period of Japan lasted from the 12th century through the 19th century. During this time, Japan was ruled by the daimyo, which were powerful families that controlled different regions. The Japanese military was ruled by a war lord known as the shogun. These leaders gave the emperor a figurehead position in the government, which meant he was a leader in name only.
In 1185, the Kamakura period began in Japan. During the Kamakura period, a new form of governance started, which marked the beginning of the "medieval" era in Japan. This era lasted nearly 700 years. From this point, all civil, military, and legal issues were controlled by the shogun. The emperor, court, and traditional government were allowed to remain in government; however, the leaders had little political power.
During the shogun Kamakura era, there was a shift from rule by royalty to rule by military leaders. The shogun era government was called the bakufu, which means "tent government." The establishment of the bakufu style of government marked the beginning of the "Japanese Middle Ages."
Who held the power in feudal Japan?
OA. the royalty
B. the military
OC. the peasants
OD. the court
How have specific features of this building influenced Western civilization
Answer:
How have specific features of this building influenced Western Civilization? The Parthenon has the columns and pediment that characterize Greek architecture. The balance and simplicity of lines are now evident in government buildings around the world, particularly in the West and America.
One of the first actions the 'uS covernment took in response to the Great Recession was de $700 billion Troubled Asset Relief Program (TARP) that was designed to purchase potentially bad loans and investments to banks. Why might the government have focused on helping The hanks first rather than homeowners who were devastated by the housing market collapse?
Answer:
One reason the government might have focused on helping banks first rather than homeowners is that they viewed the banks as the cornerstone of the financial system. The government likely believed that if the banks failed, the entire financial system could collapse, leading to a much larger economic crisis. By bailing out the banks and stabilizing the financial system, the government hoped to prevent a complete economic meltdown.
Additionally, the government may have believed that helping homeowners directly would be more difficult and time-consuming than providing relief to banks. There were many challenges associated with helping homeowners, including determining who was eligible for assistance, determining the amount of assistance needed, and developing a mechanism for delivering the assistance. In contrast, providing assistance to banks was a more straightforward process that could be implemented quickly.
It's also important to note that the government did eventually provide assistance to homeowners, including programs such as the Home Affordable Modification Program (HAMP) and the Home Affordable Refinance Program (HARP). However, these programs were implemented after the initial focus on stabilizing the banks and the financial system.
Please select the word from the list that best fits the definition
The amount a country owes to foreign individuals, organizations, companies, and governments.
Answer: governments it might be wrong but i have a good feeling about it
Explanation:
How did participants
in the study redistribute the money after being wronged?
In general, redistributing money typically involves taking funds from one individual or group and giving them to another who is deemed to be more deserving or in greater need.
How can this be done?This can be done through various methods, including taxation, social welfare programs, philanthropy, and direct financial transfers.
The specific approach used will depend on the circumstances and goals of the redistribution effort.
P.S Your question is incomplete, so I gave you a general overview for a better understanding of the concept.
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Exercise 1 - True/False
State if the following statements are true, false or you do not have enough information to answer. Provide a motivation.
a) If a consumer strictly prefers bundle A over bundle B and preferences satisfy the usual properties, then the indifference curve through A intersects the indifference curve through B in exactly one point.
b) If one consumption bundle has a utility value of 4 and a second bundle has a utility value of 2, we know that the consumer prefers the first to the second, and that the first would make him twice as happy as the second.
c) A consumer’s budget constraint is determined by a consumer’s income and preferences.
d) Goods are perfect complements when their marginal rate of substitution is constant.
The indifference curve through bundle A crosses the indifference curve through bundle B in precisely one point False if a customer strictly prefers bundle A over bundle B and preferences satisfy the normal criteria.
Briefing:-We can infer that the consumer prefers the first consumption bundle to the second if one has a utility value of 4 and the other has a utility value of 2, and that the first would make him twice as happy as the second True.
Consumer income and choices determine a consumer's budgetary restrictions. False.
Goods are perfect complements when their marginal rate of substitution is constant True.
Is the indifference line the upper cost threshold for the consumption bundles that a consumer can afford?It sets a ceiling on what a customer can purchase. Even if the consumer wants to produce at a higher indifference curve, they are unable to do so since the individual will not be able to purchase the consumption package if it does not match the budget line.
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Explain the marketing research (a process that involves defining
problems to interpreting data) with an example.
The answer is The first stage in a marketing research project is to define the problem.
In defining the problem, the researcher should take into account the purpose of the study, relevant background information and all necessary data, and how the information gathered will be used in decision making.
What is the most accurate definition of marketing?Marketing is the term used to describe the actions a business does to encourage the purchase or sale of a good or service. Advertising, selling, and delivering items to customers or other businesses are all there in marketing. Affiliates provide some marketing for a business.
What is a marketing, and why is it important?The term "marketing" has a wide range of actions intended to increase consumer awareness of and make them to purchase your goods and services.
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mention 3 reasons why protestors in an advocacy campaign should avoid using violence during their protest
Protesters in advocacy campaigns should avoid using violence because it can be dangerous, damage the legitimacy of the cause, and nonviolent protests are often more effective in achieving their goals.
What is an Advocacy Campaign?An advocacy campaign is a coordinated effort to promote a specific cause or issue, aimed at influencing public opinion, policy, or legislation by raising awareness, mobilizing supporters, and advocating for change.
Violence during protests can be dangerous for everyone involved, including protesters and bystanders. Peaceful protests are a safer way to express dissent.Using violence during a protest can damage the legitimacy of the cause and provide opponents with ammunition to discredit the protest and its message.Nonviolent protests are often more effective in achieving their goals because they are more likely to gain public support and bring attention to the issue at hand, while violent protests can cause public backlash and divert attention away from the message of the protest.Learn more about advocacy campaign on:
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2.) Does allowing employers easy access to criminal background
checks improve or worsen the labor market prospects of minority
workers?
Allowing employers easy access to criminal background checks can worsen the labor market prospects of minority workers.
The easy access to criminal background checks can result in the worsen the labor market prospects of minority workers as they may be discriminated against unfairly because of their past criminal history. Employers can use the criminal background checks to discriminate against minority workers and use their previous criminal records as an excuse.
The employers could also use these background checks to disqualify applicants from jobs that are unrelated to their criminal history. This type of practice is known as "racial profiling" and is illegal. The easy access to criminal background checks does not improve the labor market prospects of minority workers as it can lead to unfair discrimination against minority workers.
The employers can also use these checks to justify their bias towards minority workers. These checks may not be entirely accurate, and they can be used as a tool to discriminate against minorities. Therefore, it is essential to ensure that there is fair access to jobs and that employers cannot discriminate based on a person's criminal history.
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Negative psychological consequences which discriminating based on hiv status could have on young learners
Discriminating against young learners based on their HIV status can have negative psychological consequences that can affect their mental health and wellbeing. HIV-related stigma and discrimination can lead to feelings of shame, isolation, and low self-esteem, which can impact a child's ability to learn and socialize with others.
Young learners who are discriminated against may also feel afraid to disclose their HIV status to others, which can create a sense of secrecy and mistrust in their relationships. This can further exacerbate their feelings of isolation and negatively impact their mental health.
Moreover, discriminatory behavior from peers and educators can contribute to the spread of misinformation and stereotypes about HIV, which can perpetuate discrimination and stigma against people living with the virus.
Therefore, it is important to create safe and supportive environments for young learners living with HIV, where they are free from discrimination and stigma. This can help them to feel more secure, confident, and better equipped to succeed academically and socially.
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Is the high level of indebtedness the reason for low and
slow growth in South Africa? 25 points
Yes, the high level of indebtedness is one of the major factors contributing to the low and slow growth in South Africa.
The state of owing money or being in debt is known as indebtedness. In particular, South Africa's economy is currently in a recession, with sluggish economic growth being a major problem.
South Africa's national debt is at a record high of over 55% of its Gross Domestic Product, making it difficult to finance investment and economic growth. Additionally, the high interest rate that comes with debt can reduce private and public spending, further hindering economic growth.
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When is War Justified?
War is a complicated topic,,
since, you are likely to lose lots of lives, resources as such
when doing wars,, the most important thing is to reconsider what you chose to do
-> war is justfied in certain cases where problems are only solved through war,, and at the end of the day after fighting for a long time you would win or lose and bring peace to the country is basically the idea of it
War is a complex topic,, depending on what you think it can be justified or not.
What student-centered organization did John Lewis lead?
Answer:The Student Nonviolent Coordinating Committee (SNCC)
Explanation:i think this is the answer
Problem 1.
Suppose that demand and supply for beef in Riyadh is as follows:
(Demand) Q D = 10,000 – 100 P (Supply) Q S = – 5000 + 200 P
1) Find the equilibrium quantity and equilibrium price.
2) The government decides to impose a price of 40. Explain whether it’s a price ceiling or floor. What if the government imposes a price of 60? Explain whether it’s a ceiling or floor.
3) Calculate the quantity demanded and supplied at price 40 and 60. Explain whether there is a shortage or surplus at both prices.
4) Draw a graph showing the equilibrium price, quantity. Also show in the same graph what happens when the government imposes a price of 40.
Equilibrium quantity is 5,000 and Equilibrium price is 50.
1.Suppose that demand and supply for beef in Riyadh is as follows:
(Demand) QD = 10,000 – 100P
(Supply) QS = – 5000 + 200P1)
Find the equilibrium quantity and equilibrium price. Equilibrium is a state where quantity demanded is equal to quantity supplied.
QD = QS10,000 – 100
P = – 5000 + 200
P10,000 + 5000 = 200P + 100
P15,000 = 300P
P = 15,000/300
P = 50
QD = 10,000 – 100 * 50
QD = 10,000 – 5,000QD = 5,000
QD = QS = 5,000
Equilibrium quantity is 5,000Equilibrium price is 50.
2) The government decides to impose a price of 40. Explain whether it’s a price ceiling or floor. What if the government imposes a price of 60? Explain whether it’s a ceiling or floor.A price ceiling is a government-imposed limit on the price of a good or service, whereas a price floor is a minimum price imposed by the government on a good or service.In the case of the given problem, when the government imposes a price of 40, it is a price ceiling since it is below the equilibrium price. When the government imposes a price of 60, it is a price floor since it is above the equilibrium price.
3) Calculate the quantity demanded and supplied at price 40 and 60. Explain whether there is a shortage or surplus at both prices. At price 40,
QD = 10,000 – 100 * 40
QD = 6,000
QS = – 5,000 + 200 * 40
QS = 3,000
At this price, quantity demanded exceeds quantity supplied, resulting in a shortage. At price 60,
QD = 10,000 – 100 * 60
QD = 4,000
QS = – 5,000 + 200 * 60
QS = 7,000
At this price, quantity supplied exceeds quantity demanded, resulting in a surplus.
4) Draw a graph showing the equilibrium price, quantity. Also show in the same graph what happens when the government imposes a price of 40.
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