Labpaq Scientific Method Essay - 1164 Words

The Scientific Method Portland Community College Staff* Version 42-0207-00-01 Lab RepoRt assistant This document is not meant to be a substitute for a formal laboratory report. The Lab Report Assistant is simply a summary of the experiment’s questions, diagrams if needed, and data tables that should be addressed in a formal lab report. The intent is to facilitate students’ writing of lab reports by providing this information in an editable file which can be sent to an instructor. obseRvations Data Table 1: Making Observations | Procedure†¦show more content†¦The pieces were clearer and sharper looking than the original rock salt. 2. Describe the initial observations made when several drops of water were added to few particles rock salt and the observations made several minutes later. Initially, the rock salt partially dissolved in the drops of water. After several minutes, the salt was more dissolved, but had not completely dissolved. There were very fine grains of salt that were visible at the base of the water bubble that hadn’t dissolved. 3. In light of these observations, what can be concluded about salt? Salt can be broken down and dissolved by water, but not in high concentrations. C. Do all the grains of sand look like they are made out of the same material? No. 1. Propose a hypothesis to explain the observed appearance of sand. Sand is a conglomeration of rocks and stones that have been broken down into sediments. 2. Describe what was initially observed when several drops of water were added to several grains of sand and the observations made several minutes later. Initially, when water was added to sand, the sand was unchanged. After several minutes, the sand continued to appear unchanged. 3. In light of these observations, what can be concluded about sand? Sand cannot be dissolved into water. D. The water and oil acted differently on the reaction surface. Propose a hypothesis that explains the different behavior ofShow MoreRelatedEssay scientific method1136 Words   |  5 Pagesï » ¿LAB 1 – THE SCIENTIFIC METHOD *Adapted from LabPaq CK-GCC Purpose: The purpose of this experiment is to learn about and use the Scientific Method. The discussion of physical properties such as density, color, texture, smell, and solubility will take place. Observations and Experimental Data: Table 1: Making Observations Procedure Observation A. Torn paper Vertical tear: easier to tear, more visible fibers, more jagged edges and uneven tear. Horizontal tear: harder to tearRead MoreEssay Laboratory: Left-handedness and Experiment2540 Words   |  11 PagesCollege Science MajorFirst Semester COPY OR SAVE TO A WORD PROCESSING PROGRAM to fill out and hand in to your instructor Name:: October 4, 2012 On which page of the complete LabPaq manual does The Cycle of Scientific Inquiry figure appear? Answer: Page 3 LABORATORY 1 Work Area:Research and The Scientific Method Exercise 1-1: The Dominant Thumb Experiment: Results: During the background examination of the literature, what was discovered about what is already known concerning thisRead MorePolitical Science Essay18429 Words   |  74 PagesBiology LabPaq / Published by: Hands-On Labs, Inc. sales@HOLscience.com / www.HOLscience.com / Toll Free 866.206.0773 A laboratory Manual of Small-Scale Experiments for the independent Study of general Biology 50-0053-BK-02 LabPaq ® is a registered trademark of Hands-On Labs, Inc. (HOL). The LabPaq referenced in this manual is produced by Hands-On Labs, Inc. which holds and reserves all copyrights on experiences. The laboratory manual included with a LabPaq is intended for the sole useRead MoreEssay about Basic Chemistry for Investigating Living Systems7868 Words   |  32 Pagesstarches, and lipids; to identify the roles of molecular components in living systems; to comprehend the value of using a systematic approach to research; and to describe why hypotheses, controls, standards, and quality control are important in scientific research (Vorndam, 2002, p. 92). Basic Chemistry for Investigating Living Systems Abstract The purpose of this experiment was to explain how colorimetry can be used to qualitatively detect cellular chemical components; to chemically differentiate

Analysis Of Heidi s The Great Gatsby - 2003 Words

Heidi s tragic side is fully revealed in this entire speech where humor and drama are perfectly blended to emphasize her moment of realization. She becomes a diminished character who no longer knows who she is and decides to leave New York to sort out her future. Like a true dark comedy protagonist, she is vulnerable and has lost control. She realizes her downfalls and the comedy lies in the superiority felt by the spectator due to man s delight in man s inhumanity to man (Capp 220). In the area of humanness, Heidi may not be ordinary, but can still be considered an everywoman for her generation. She is looking for fulfillment, a universal desire shared by women of all generations trying to balance personal dreams with societal expectations. The illusion of who she longs to be is overshadowed by her need to laugh off the heartaches and mask her true identity. She attempts to cover the duller elements of her personality and never turns to a higher power for assistance, as is character istic of a dark comic protagonist. Her speech in Act II referenced above shows signs of a dark comic protagonist who clears his throats and scratches her nose (Styan, The Dark 275). She will never emerge as a hero, or as Guthke s tenet suggests, be able to clear her pain-stricken conscience (162). She attempts to do so by adopting a baby, however, but it is clear to the spectator that the question of happiness will remain unanswered for Heidi: SCOOP. But now. Right now.

Mobile Networks The New Norm For Networks - 1416 Words

Latest trends such as mobiles, IT-as-a-Service, Server Virtualization and the requirement to respond rapidly to developing business conditions are placing demands on the network, which cannot be handled by today’s conventional network architectures. Software-Defined Networking proposes new approach to avoid the traditional vertically integrated networking stack in order to improve the present basic network architecture by improving architectural flexibility and manageability. SDN enables â€Å"mass customization† of network operations to better support differentiated services. With this technology a single program can control the behavior of entire networks. Networking in future will rely completely on software, which will help increase the†¦show more content†¦All these transformation of high level policies into low level configuration commands with adaption to changing network conditions is done manually. Frequently, they likewise need to finish these exceptionally perplexing errands with access to extremely constrained instruments. As a result, system administration and execution tuning is very testing and subsequently slip inclined. The way that system gadgets are generally vertically-coordinated secret elements worsens the test system administrators and chairmen face. An alternate practically unsurmountable test system professionals furthermore analysts face has been alluded to as Internet ossiï ¬ cation. Due to its tremendous organization base and the actuality it is viewed as a major aspect of our societies critical infrastructure (much the same as transportation and force frameworks), the Internet has gotten to be greatly difï ¬ cult to develop both as far as its physical framework and in addition its conventions and execution. Then again, as present and rising Internet applications and administrations get to be progressively more unpredictable and requesting, it is basic that the Internet have the capacity to advance to address these new difficult. The thought of programmable networks has been proposed as an approach to encourage system development. Specifically, Software Deï ¬ ned Networking (SDN) is another systems administration ideal

The War Of The Vietnam War - 886 Words

American soldiers arrived in My Lai on March 16, 1968. These soldiers were members of the Charlie Company, which was a division within the army. The Charlie Company had been in Vietnam a few months before they were called to My Lai. Americans were fighting against North Vietnam alongside South Vietnam. â€Å"They (Charlie Company) were on a search and destroy mission to root out 48th Viet Cong Battalion thought to be in the area† (AE Networks). The Charlie Company encountered numerous amount of innocent inhabitants when they arrived at My Lai. These inhabitants, however, suffered a tragic event that was called the My Lai Massacre. â€Å"The unit met no resistance in My Lai (†¦..) they only found villagers eating breakfast. Nevertheless, over the next 3 hours they killed as many as 504 Vietnamese civilians† (Digital History). The civilians that were killed ranged from children all the way to senior citizens. Other forms of torture were involved as well. â€Å"Vietnamese women were raped; other civilians were clubbed and stabbed. Some victims were mutilated with the signature â€Å"C Company† carved into the chest† (Digital History). â€Å"Lieutenant William L. Calley was reported to have dragged dozens of people, including young children, into a ditch before executing them with a machine gun† (AE Networks). There were other reports of soldiers testifying the horrific things they did to civilians. What could have driven American soldiers to commit such a devastating massacre? â€Å"CaptainShow MoreRelatedThe War Of Vietnam And The Vietnam War1525 Words   |  7 PagesThe war in Vietnam is The United States and other capitalist bloc countries supported South Vietnam (Republic of Vietnam) against the support by the Soviet Union and other socialist bloc countries of North Vietnam (Democratic Republic of Vietnam) and the Vietcong of war. Which occurred during the Cold War of Vietnam (main battlefield), Laos, and Cambodia. This is the biggest and longtime war in American history during the 1960s (Best 2008). It is also the most significant war after World War IIRead MoreThe War Of The Vietnam War1475 Words   |  6 Pageson one such event, the Vietnam War, came from entertainment-based programs and the play Miss Saigon. Despite heavy coverage in such well-known comedic films as Forrest Gump and Good Morning Vietnam, the true events were anything but a laugh for those involved. In spite of the relative recentness of the events in Vietnam, many of todayâ€⠄¢s youths know little about the topic. The events in Vietnam raise the ever-present question on the ethics of third party involvement in a war otherwise unrelated toRead MoreThe War Of The Vietnam War1729 Words   |  7 Pagesspread of communism all around the world. This is what lead to the gruesome war that lasted over a decade in Vietnam. A great deal of social changed happened all over the world, but particularly in America as the Vietnam War dragged on. As people became more aware of the atrocities going on in Southeast Asia, the endless domestic support turned into widespread explosive protest. During the first few years of the Vietnam conflict, Americans full heartedly supported the United States and its governmentRead MoreThe War Of The Vietnam War1379 Words   |  6 Pagestensions over the Vietnam war caused many americans to become divided on the actions taken by the government across seas. Americans questioned whether the government could be trusted. The feeling of betrayal and government secrecy created the â€Å"Credibility Gap,† in which many americans believed that the government no longer was for the people, but for anything else that would benefit the government. The Vietnam War exacerbated the gap between the pro-war traditionalists and anti-war liberals along withRead MoreThe War Of The Vietnam War1430 Words   |  6 Pagesended in 1989, the Vietnam war is still being fought, but on a different battlefield, one of public opinion. Some call this war an atrocity, a war the United States should never have joined. Others call it a crime, committed by the power hungry politicians of the U.S. Now that new information from both sides of the war has surfaced and the wounds of battle have had more time to heal there is yet another opinion emerging. The Vietnam War was in fact only one of many proxy wars fought under the umbrellaRead MoreThe War Of The Vietnam War1155 Words   |  5 PagesThe Vietnam War cost many Americans their lives in the 60s and 70s. Many were drafted into the war by choice and others selectively chosen to join to help America. The contributions made had a major impact on the American side of the Vietnam War. Though many contributions were made none stand out any more than others. It is sometimes said there is always a hero in the war who helped the victory. Wars, however, do not have war heroes because a hero is making an undeniable contribution to the war andRead MoreThe War Of The Vietnam War1592 Words   |  7 PagesThe Vietnam War was said to be one of the most significant wars in the twentieth century. This w ar took place from November 1, 1955 to April 30, 1975. It was at the time, the longest war in American history. Much of the conflict was centered in Vietnam, Laos, and Cambodia. During that time, approximately 58,219 US troops were killed in action. The reason America got involved in the Vietnam War was to stop the spread of communism in South East Asia and beyond. â€Å"America’s involvement in Vietnam derivedRead MoreThe War Of The Vietnam War1204 Words   |  5 Pagesus†¦ When that is the way you are, how do you conduct your life?† The Vietnam War killed over fifty eight thousand Americans and over 61% of the men killed were 21 years or younger. Most Americans are conflicted with the fact whether the Anti War Movement played a factor in prolonging the Vietnamese War. â€Å"In every story there are two sides and in between lies the truth.† Anonymous The United States become involved in Vietnam after the French withdrew when the Republican President Dwight EisenhowerRead MoreThe War Of The Vietnam War877 Words   |  4 PagesAnother big difference in this war was that the Vietnam War was had more disapproval and was more expressive within the American public, unlike the Korean War. The ANITWAR MOVEMENT started in the 1960s this group was never enacted until this era. There was not a group like this in Vietnam, but there were many groups that opposed the war. The main object of these revolts was the American military presence in Indochina. The ANITWAR MOVEMENT caused an influence not only socially, but also in the realmRead MoreThe War Of The Vietnam War1421 Words   |  6 PagesIn July and August of 1972, Jane Fonda made radio broadcasts from Hanoi that changed the way Americans thought of the Vietnam war and of her. To this day, many people view her as a traitor and criticise her actions in Vietnam; however, some people we re truly inspired by her words and what she had to say. Despite people s personal opinions, Fonda was a powerful speaker and knew how to convey her message to her audience. She tried to convince people that the American government and military were the

Construction Of The Fundamental Principles -Myassignmenthelp.Com

Question: Discuss About The Construction Of The Fundamental Principles? Answer: Introducation The employers generally provide the fringe benefits to their employees apart from the salaries and wages. In accordance with the FBTAA 1986, this is can be notified that the relation between the employee and employer is necessary for receiving the benefits (Sikka, 2017). This relation between among two individual enables the utilization of provision under FBTAA 1986 for determining the tax obligations for both the individuals (employee and employers). As discussed in section 7 of the Fringe Benefit Tax Assessment Act 1986 if the benefit provided by a company is a car then this will be constituted as the car fringe benefit (Mellon, 2016). This act highlights this fact that providing a car to an employee or providing the car with lease management, this case will be resulting into the car fringe benefit tax for the employee. According to the elaboration of the fringe benefits, this is clear that if the employee uses the car for his personal usages instead of the private purposes then also this will be considered as the fringe benefit for the purpose of taxation. There are specifically two significant methods for determining the assessable value for car fringe benefits. These two methods include the statutory formulation methodology and operating cost methodology. In case of this statutory methodology the considered assessable amount within the fringe benefit is calculated by the value of the whole car. In addition to this, section 10A and 10 B of the FBTAA 1986 is considered as associated with the assessable value of the car fringe benefit in case of the operating cost method (Sharkey Murray, 2016). According to the operating cost method, this involves the administration of the car and also determines the assessable income of involved within the fringe benefits. One of the important fact involved within these methods are the method, which is identified for lowest assessable value for the fringe benefit, is considered for calculation of fringe benefit tax. For using the operating cost method, the employee will require the maintenance of the expenditure involved in case of the logbook or any related document. Case facts: The case study incurs this fact that he is the employee of Shiny Homes Pty Ltd., which provides him with a car. This car is allowed for personal as well private usages of Charlie. In observance with section, 7 of the Fringe Benefit Tax Assessment Act 1986 all the benefits provided to Charlie in the form of car will be included in car fringe benefit and will also be calculated for taxation (Robin, 2017). For determining the assessable value of the car fringe benefit of Charlie both the methods are applied namely the Statutory Method and Operating Cost Method. In case of the statutory method, the statutory rate of 20% is applied for determining the fringe benefits involved within Charlies case here. The statutory rate for of 20% is generally multiplied with the base value for the car in order to ascertain the assessable value of the fringe benefit. The degree of private utilization made by the employer is not taken in case of determining the assessable value related to the fringe benefit involved within the statutory Method. On the other hand, in case of the operating cost method, the total amount for the operating cost involved in administration of the car is segregated within separation for the personal along with the private usages of the car. This helps in determining the assessable value for the fringe benefit while calculating the taxation for the particular car. Therefore, the calculation showed below highlights the Statutory Method as well as Operating Cost Method; Operating Cost Method: In contrast with the section 11 (1) the deemed depreciation is highlighted by employing he Statutory rate of 25%. In contrast with the section 11 (2) the considered deemed interest is calculated by employing the Statutory rate of 5.65% for the year 2016/17. As discussed in the figures for statutory method the assessable amount of the fringe benefit related to the car is lower than the operating cost method introduced. So as a result, the assessable value for the car fringe benefit under this method should be taken for calculating the tax. In addition to this, Charlie used the car as Shine Homes has hired that for providing him facilities while Charlies wedding as well as honeymoon. Therefore, in consideration with 39A of the Fringe Benefit Tax Assessment Act 1986 the car parking fringe benefit is originated if the car is parked at the premises that is owned or leased by Shine Homes. In the present scenario, Charlie used a separate entity for parking the car this does not result into the fringe benefit for the car. The current situation highlights that Alan is a locum doctor while his wife is a part time accountant. They decide to change tree by selling off their house in Melbourne and purchasing a new home in Central Victoria. Alan generates his income from the fees received by his patients while Betty earns income from her salaries. In compliance with the provision of section 6-5 of the ITAA 1997, income that are derived directly from the profession or business would be considered assessable. Similarly, the income of Alan and Betty would be considered for tax (Braverman et al., 2014). The situation from the case study provides that Alan is well known among his clients and Alan regularly from his patients receives foodstuffs and cakes that are regarded as the sign of gratitude. In addition to the foodstuff, Alan also charges fees from his clients for the treatment imparted. The receipt of fees from his clients would be subjected to income tax while the foodstuff and cakes cannot be considered assessable since these elements does not have any commercial value in the market. Once it was noticed that Alan received a dozen bottles of wine from one of his client as he saved his client dog from a snakebite. The wine bottles received by Alan carried market value of $360. Therefore, the receipt of wine by Alan from his client would be included into his taxable income because it contained commercial value and will be liable for income under the provision of section 6-5 of the ITAA 1997 (Hodgson Pearce, 2015). In accordance with the taxation ruling of TR 97/11, a determination is made whether the person is engaged in the activities of primary production or hobby. The ruling is helpful in providing an understanding of an individual indulgence in business or hobby (Black, 2017). To differentiate between hobby and business, the below listed differences provides a better understanding; Activities that comprises of the sale of goods commercial will be held as business. Hobby involves sale among friends and relatives. Business generally consists of repetition of activities. Hobby does not any such regularity or repetition of activities. Business activities generally comprises of purpose or intention while hobby does not have any such purpose or intention of executing business activities. The activities of business are generally big in magnitude. Hobby is generally small in extent and scale. The characteristics of an activity or the intent of an individual helps in ascertaining whether the person is carrying on a business or hobby. As held in the case of Ferguson v F C of Taxation (1979) amount derived from hobby is an income whereas yielding profit from those hobby is regarded as carrying on of a business (Kaplan Nadler, 2015). The case study introduces that Betty started making marmalade that became well known among her neighbours. This made her open a stall and put up her marmalade on sale during second Sunday of each month. Alan sold the additional or the leftover amount to the local supplier frequently. According to the decision of commissioner in Martin v. FC of T (1953), no form of sole actions would be capable of interpreting an exclusive indication and contained overlapping indicators (Miller Oats, 2016). In the current situation of Alan and Betty, the activities contained the purpose of profit and had regularity. As a result, the selling of marmalade is regarded as business activities and profit generated from such business would be considered for assessment of tax. As it has been defined by the ATO, any form of transactions that arises from the barter system shall be accompanying income tax consequences and GST. The transactions from the barter system will be treated equivalent to the transactions of cash and credit. It is noteworthy to denote that Subsection 25 (1) of the ITAA 1936 defines that earnings generated from the barter system would be accompanying tax consequences (Stiglitz, Rosengard, 2015). The federal court in the case of Federal Commissioner. Of T. v. Cooke Sherden 1980 stated that income that is earned from the barter system would be considered for assessment since they are considered equivalent to cash and credit dealings (Barkoczy, 2016). With reference to the above judgement, both Alan and Betty would be held liable for tax and GST under the GSTR 1999 for the earnings derived from barter system. The income from barter system is treated equivalent to the business dealings made in cash and credit. Reference List: Black, C. (2017). The Attribution of Profits to management Establishments: Testing the Interaction of Domestic Taxation Laws and Tax Treaties in Practice. Braverman, D., Marsden, S., Sadiq, K. (2015). Assessing Taxpayer Response to Legislative Changes: A Case Study of In-House Fringe Benefits Rules.J. Austl. Tax'n,17, 1. Du Preez, H. (2016).A construction of the fundamental principles of taxation(Doctoral dissertation, University of Pretoria). Hodgson, H., Pearce, P. (2015). TravelSmart or travel tax breaks: is the fringe benefits tax a barrier to active commuting in Australia? 1.eJournal of Tax Research,13(3), 819. Kabinga, M. (2015). Established principles of taxation.Tax justice poverty. Kaplan, R. A., Nadler, M. L. (2015). Airbnb: A case study in occupancy regulation and taxation.U. Chi. L. Rev. Dialogue,82, 103. Mellon, A. W. (2016).Taxation: the peoples business. Pickle Partners Publishing. Miller, A., Oats, L. (2016).Principles of international taxation. Bloomsbury Publishing. ROBIN, H. (2017).AUSTRALIAN TAXATION LAW 2017. OXFORD University Press. Sharkey, N., Murray, I. (2016). Reinventing administrative leadership in Australian taxation: beware the fine balance of social psychological and rule of law principles.Austl. Tax F.,31, 63. Sikka, P. (2017, January). Accounting and taxation: Conjoined twins or separate siblings?. In Accounting Forum. Elsevier. Stiglitz, J. E., Rosengard, J. K. (2015).Economics of the Public Sector: Fourth International Student Edition. WW Norton Company.

Economics in Business Regulation in Natural Monopoly Market

Question: Discuss about the Economics in Business for Regulation in Natural Monopoly Market. Answer: Introduction The focus of the essay is the discussion on natural monopoly. The market structure of natural monopoly is analysed to get an insight about the necessity of regulation of this market. A natural monopolist has the potential to supply product or service to the entire market at a lower cost than multiple firm can do (Bos, 2015). The difference between a monopolist and a natural monopolist is that they monopolist operates at the rising segment of the marginal cost curve as MC curve is the supply curve of the firm. On the other hand, a natural monopolist can operate at the falling region of average cost curve. Entry is automatically restricted in natural monopoly market due to its nature. The possible barriers that can restrict entry of new firm in the market are high start up cost, high sunk cost and many other reasons. A monopolist is a price setter rather than price taker. Natural monopoly may be weak or strong. In the market, where natural monopoly is strong, chances of entry is less and probability of new entry is high when natural monopoly is weak (Baldwin, Cave, Lodge, 2012). Monopolist tries to exploit market by charging higher price. Therefore, in order to correct market inefficiency, government regulations are required. The necessity of regulation in natural monopoly is thus discussed in this essay. Natural monopolist operates at the falling region of average cost curve, where the firm gets throughout economies of scale. Hence, the firm is able to produce a higher output at a lower price. However, this result does not happen in an unregulated market (Makholm, 2015). A monopolist charges a price higher than competitive price. In a monopoly market, there is absence of close substitute product or service. Hence, charging higher price excludes some customers from consume the product (Hovenkamp, 2015). Therefore, monopolists reach at the equilibrium level, by producing and supplying output less than socially desirable level. However, the market structure is such that entry is not attractive or new entrants are incapable to survive. The above figure shows that natural monopolist produces output at the intersection point of marginal revenue and marginal cost curve. The firm operates at the falling portion of the marginal cost curve. In an unregulated monopoly market, the firm charges price much higher than its marginal cost exercising its monopoly power (Joskow Wolfram, 2012). Benefits of natural monopolist As the firm is single producer in the market, it can provide entire output at a lower cost than multiple firms could do. Due to lower operating cost, the firm gets economies of scale in production process. Economies of scale are obtained by firms, when inputs exhibit increasing returns to scale (Hillman Braeutigam, 2012).It means that, the firm is able to produce a large output with using a smaller unit of inputs. Therefore, variable cost becomes lower although the production. As stated by Nepal, Menezes Jamasb (2014), natural monopoly may be strong or weak. A strong natural monopolist has decreasing average cost, whereas a weak monopolist has increasing average cost. A weak monopolist finds itself in a position that it cannot be able to restrict the entry of new firm in the presence of supernormal profit (Vikharev, 2013). Therefore, this kind of natural monopoly is unsustainable in long run. Price regulation is desirable for the sustainability of weak monopoly in the market. A strong monopolist can operate at the point, where the average cost curve still declines to cut the average revenue. Therefore, it naturally restricts the entry of new firm in the market, as it becomes difficult for a new firm to compete with a cost efficient firm with high initial cost structure (Minamihashi, 2012). Costs in unregulated natural monopoly market In an unregulated monopoly market, the firm charges price much higher than its marginal cost exercising its monopoly power. The price is set as per average revenue. This price output decision reduces social welfare. The price charged in an unregulated monopoly is higher than competitive price and output is less than the competitive output (Carvalho Marques, 2014). Hence, the government decides to regulate the market in order to bring efficiency in production and resource allocation and to maximise consumer welfare. Deadweight loss is created in the unregulated market due to charging higher price. A portion of consumer surplus is lost, which even cannot be appropriated by the monopolist (Minamihashi, 2012). Triangle AED in the figure is deadweight loss in an unregulated monopoly. Need for price regulation by government As shown in the figure, market failure occurs in the natural monopoly due to inefficient allocation of goods and services in the economy. A higher level of output can be produced by the firm, which can make consumer better off. Therefore, government has two options to regulate the market. One is average cost pricing and other is marginal cost pricing (Vikharev, 2013). Marginal cost pricing is done by setting price level at the intersection point of average revenue and long run marginal cost. This output is even greater than competitive output. Price is also lower than competitive price. This is the output that maximises consumer welfare. However, this price is optimal for the monopolist. At this level, price is lower than the long run average cost. As P LRAC firm makes loss in the long run. Therefore, it is unprofitable for the firm to operate in long run. The firm would be compelled to shut down plant (Hillman Braeutigam, 2012). In this situation government needs to provide subsid y to keep the firm in operation. Marginal cost pricing is costly for the natural monopolist. Another option for the government is average cost pricing. Price is set at the intersection of long run average cost and average revenue. AR = AC implies TR = TC, which indicates that firm earns only normal profit by operating at this level. The output at this level is greater than unregulated output Qm and price is less than unregulated price Pm. Although, the firm is not getting supernormal profit, it is not making loss even. Therefore, both consumer and producer welfare can be maximised at this level. Hence, among the three situation, average cost pricing is socially optimal as it maximises both production and allocation efficiency(Baldwin, Cave, Lodge, 2012). Examples of natural monopoly Example of natural monopoly is seen in the economy in the market of public utility such as railways, electricity, water supply, telecommunication and others. Government allows natural monopoly but intervene to protect consumer interest. A single utility company can supply power lines, electricity in the cities, as the operation requires high fixed cost (Makholm, 2015). The nature of demand is such that cities do not allow multiple companies to operate. Joskow Wolfram (2012) stated that natural monopoly exists where there are large fixed cost and low marginal cost. Marginal cost pricing is undesirable due to having negative externality. Natural monopoly creates market failure in the presence of imperfect market information and inefficient resource allocation. Hovenkamp (2015) argued that market failure is likely to occur in the network industry. These types of industries are capital intensive and require huge investment at the start up level. Sunk cost is also high in this industry. Most of assets used in this sector is durable and hence creates high barrier to entry. Railways in UK are an example of natural monopoly, where government regulates the market through price discrimination policy. Government regulates the railway fare for longer distance tickets so that the operators cannot increase fare above the price floor (Strether, 2014). On the other hand, the operators have freedom to charge higher price for unregulated types of tickets. Here, the concept of cross subsidy is applied by the government. Cross subsidisation refers that a firm charges price lower than operating cost to a group of customer and financed by charging high price to other group of customers. It happens in an industry that a supplier concentrates on an area where cost of supply is the lowest (Hillman Braeutigam, 2012). Low cost production generates profits to allow entry of new firms in the market. Therefore, there is possibility that competitors may enter into the market. Therefore, firm cannot sustain in the market without legislative protection by government. Peak load pricing is another option for natural monopolist to generate high profits. A firm can charge high price for a service or product, when demand is high and charges lower price when demand is low. This strategy enables the firm to use production capacity effectively. Carvalho Marques (2014) opined that technological up gradation in production leads to transformation of natural monopoly into competitive market. Technological development has made telecommunication industry more competitive in recent times. Technological improvements can decrease operating by bringing efficiency in production. Technology improves productivity of the inputs by ensuring increasing returns to scale (Vikharev, 2013). Therefore, firm can produce large output with minimum cost generating super normal profit as the marginal cost of production is falling. Existence of super normal profit in the market induces external firms to enter into the market. Therefore, external forces can break natural monopoly and produces socially inefficient output. Government intervention can correct the market failure in this situation (Carvalho Marques, 2014). Government can use price ceiling strategy to set the price at the level of average cost incurred by existing firm. The firm earn only normal profit at this level. Hence, there will be no incentive for other firms to enter into the market. The existing firm can freely operate in the market by producing socially optimal output same as competitive level without making loss. This king of regulation restricts competition and maximises social welfare as well. Conclusion The essay presents an extensive analysis on natural monopoly. It has been seen that monopolist generally maximises profit by producing output where marginal cost curve cuts the marginal revenue curve. However, price is set according to the average revenue and not by marginal revenue. The firm exploits consumer surplus in this way and a portion of consumer surplus results in deadweight loss, which is achieved neither by sellers nor by the consumers. This high price has a social cost as some customers are not able to buy the product due to high price and lack of substitute goods in the market. In order to correct the market failure, government may two decisions such as marginal cost pricing and average cost pricing. If the price is regulated to set at the level where, long run marginal cost equates with average revenue curve, firm makes loss as average cost is less than price and marginal cost. Therefore, only government subsidy can keep the firm in business, however, this is not the optimal solution. Therefore, another option is average cost pricing. Government regulates the market so that the firm can set price equal to the average cost and average revenue, where the firm can earn only normal profit. Competitive price and output, both are better in the regulated market compared to the unregulated one. Natural monopoly exists in the sector of public utilities such as electricity, railways, waterways, and telecommunication. Natural monopoly can be seen in both public and private sector. It has been studied that technological progress supports the existence of natural monopoly in the presence of government regulation. References Baldwin, R., Cave, M., Lodge, M. (2012). Understanding regulation: theory, strategy, and practice. Oxford University Press on Demand. Bos, D. (2015). Pricing and price regulation an economic theory for public enterprises and public utilities (Vol. (Vol. 34). ). Elsevier. Carvalho, P., Marques, R. C. (2014). Computing economies of vertical integration, economies of scope and economies of scale using partial frontier nonparametric methods. European Journal of Operational Research, 234(1), 292-307. Hillman, J. J., Braeutigam, R. (2012). Price level regulation for diversified public utilities (Vol. (Vol. 5)). Springer Science Business Media. Hovenkamp, H. ( 2015). Federal Antitrust Policy, The Law of Competition and Its Practice. West Academic. Joskow, P. L., Wolfram, C. D. ( 2012). Dynamic pricing of electricity. The American Economic Review, 102(3), 381-385. Makholm, J. D. (2015). Regulation of natural gas in the United States, Canada, and Europe: Prospects for a low carbon fuel. Review of Environmental Economics and Policy, reu017. Minamihashi, N. ( 2012). Natural monopoly and distorted competition: evidence from unbundling fiber-optic networks. Nepal, R., Menezes, F., Jamasb, T. (2014). Network regulation and regulatory institutional reform: Revisiting the case of Australia. Energy Policy, 73,, 259-268. Strether, L. (. (2014). UK Rail Shows Pitfalls of Natural Monopoly Privatization. Retrieved December 25, 2016, from www.nakedcapitalism.com: https://www.nakedcapitalism.com/2014/08/uk-rail-shows-pitfalls-natural-monopoly-privatization.html Vikharev, S. (2013). Mathematical modeling of development and reconciling cooperation programs between natural monopoly and regional authorities.

The Lake Isle By Ezra Pound Essay free essay sample

? The Lake Isle? By Ezra Pound Essay, Research Paper # 8220 ; The Lake Isle # 8221 ; Response Paper There comes a point in everybody # 8217 ; s life when a idea of a pickup from the lives we live crosses our head. For some it # 8217 ; s merely an image that pops up and rapidly disappears with its unrealistic subject and others can # 8217 ; t acquire it out of their head, brooding about it their whole life. Although, most people do believe of an flight, they don # 8217 ; t peculiarly know what they want. In his verse form # 8220 ; The Lake Isle # 8221 ; , Ezra Pound puts down on paper the simple things he longs for in life, uncovering us the image of the surroundings he wants to get away to. The verse form begins with Ezra Pound raising the Gods to give him a small baccy store, which so represents the topographic point if his desire. Just like an creative person, he is painting us a image of a perfect pickup from his day-to-day life, merely he is making it with words. We will write a custom essay sample on The Lake Isle By Ezra Pound Essay or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page He mentions that in this store he wants small boxes to be piled up neatly, which I think indicates to Pound # 8217 ; s hungering for order in life. He besides states that he wants these boxes to be bright, connoting that may be there isn # 8217 ; t much freshness in his support, and he is tired of life in a dull and spiritless society. Furthermore, the usage of the word # 8220 ; bright # 8221 ; twice puts a spot stronger accent on that peculiar issue in his life. In overall, Ezra Pound is non inquiring for baskets filled with gold, nor is he looking for luxury. He is non after an extraordinary life manner. He has a yearning for the simple and unworldly things. This could be inferred from the lines where he points out that he is non looking for fancy adult females to do serious conversations with. He merely wants the ladies of the eventide to drop by, to state hullo to and check a gag with. I find it important and besides really cagey that in his verse form Pound decided to include the Grecian Gods. Since in Greek mythology, Gods were known for demanding something in return, the stoping of this verse form seems to be a direct consequence of its beginning. As the writer rethinks it over, he realizes that it could be excessively much he is inquiring for. Nevertheless, he does non mind settling for less. The verb alteration from # 8220 ; Give # 8221 ; in line two to # 8220 ; Lend # 8221 ; in line 13 clearly states that he is ready to compromise and would make anything to populate his dream, even if it would merely be for a twenty-four hours. Deciding to travel easy on his petition Ezra Pound backs off, now imploring the Gods to impart him his want. Could the universe weighted to a great extent for Pound in order for him to desire to acquire off so severely? He must non hold been happy with what was traveling on in his life in general, and surely got tired of authorship . Making a small research on the clip and atmosphere Ezra Pound was populating in, I found that the rubric was a common subject for a getaway topographic point. A celebrated Irish poet William Butler Yeats, to whom Pound was a modern-day to had besides written a related verse form with a really similar rubric of # 8220 ; The Lake Isle of Innisfree # 8221 ; . Although the content of the verse form was non the same the significance behind it was indistinguishable. He was another 1 who defined the topographic point he could happen peace within.