-
QUESTION
Economics
Scenario: More than half of all residential water connections in Britain are not metered. Residential customers pay a flat fee regardless of usage. Scottish Water, which supplies water in Scotland, says there is no evidence that the installation of meters encourages lower than normal usage of water.
Answer these questions:
1.The Salmond family lives in a home that is not metered. The family consumes around 10,000 gallons a month. What is the family’s monthly demand curve for water, assuming that the demand curve is a straight line, and (the price is of water is £50 per 1,000 gallons) the Salmond family consumes nothing.
2.Calculate the total benefit and marginal benefit from water when the Salmond family consumes 10,000 gallons a month. What is the family’s buyer surplus?
3.Suppose that Scottish Water installs a water meter at the Salmond’s home and charges a price of £5 per 1,000 gallons. How much water would the family buy, and how much would it spend each month?
4.What is the maximum amount Scottish Water could charge the Salmond family for the consumption in question 3?
| Subject | Economics | Pages | 5 | Style | APA |
|---|
Answer
-
Economics Assignment
Question One
The fact that Salmon family have s demand curve, which is straight line, it means that their demand is perfectly elastic. This is to mean that a slight variation in the price of water would lead to an infinite change in the amount of water consumed by this family. The total demand curve for this family is calculated as follows.
Total demand curve = Approximate consumption x price of water
= 10,000/10,000 x £50
= 10 x£50
= £500
Question Two
Marginal benefit refers to the amount that a customer is willing to pay in order to obtain one more unit.
Therefore, the total benefit = the total sum of marginal benefits
This family does not sell water, which is what makes their marginal benefit to be equal to total benefit
= = 10 x£50
= £500
Surplus is the measurement of the net benefit a consumer gains from consuming a certain amount of good
Consumer Surplus = Total Benefit – (Price x Quantity)
= £500 – (£50 x 10)
= 0
Question Three
The total amount of water
Variation in price = £50-5
= £45
This means that that the family will be able to afford ten times the amount they can afford now which is as follows.
10,000 x 10
100,000 liters
Question Four
The maximum amount which could be charged is at the point in which marginal cost = marginal revenue. Therefore.
= 100,000/1,000
= £100
Reference
CNBC.com. (2014, September 17). IBM cuts pay for workers it says can't keep up: Report. CNBC. Retrieved November 3, 2020, from https://www.cnbc.com/2014/09/17/ibm-cuts- pay-for-workers-it-says-cant-keep-up-report.html
Lohr, S. (2014, September 17). IBM offers workers training and pay cuts. Bits Blog. https://bits.blogs.nytimes.com/2014/09/17/ibms-offers-workers-training-and-pay- cuts/
Noe, R. A., & Kodwani, A. D. (2018). Employee training and development, 7e. McGraw-Hill Education.
Thibodeau, P. (2014). IBM cuts pay by 10% for workers picked for training. Computerworld. Retrieved November 3, 2020, from https://www.computerworld.com/article/2683239/ibm-cuts-pay-by-10-for-workers- picked-for-training.html
Related Samples
[/et_pb_text][et_pb_divider color="#E02B20" divider_weight="2px" _builder_version="4.9.3" _module_preset="default" width="10%" module_alignment="center" custom_margin="|||349px||"][/et_pb_divider][/et_pb_column_inner][/et_pb_row_inner][et_pb_row_inner use_custom_gutter="on" _builder_version="4.9.3" _module_preset="default" custom_margin="|||-44px||" custom_margin_tablet="|||0px|false|false" custom_margin_phone="" custom_margin_last_edited="on|tablet" custom_padding="13px||16px|0px|false|false"][et_pb_column_inner saved_specialty_column_type="3_4" _builder_version="4.9.3" _module_preset="default"][et_pb_blog fullwidth="off" post_type="project" posts_number="5" excerpt_length="26" show_more="on" show_pagination="off" _builder_version="4.9.3" _module_preset="default" header_font="|600|||||||" read_more_font="|600|||||||" read_more_text_color="#e02b20" width="100%" custom_padding="|||0px|false|false" border_radii="on|5px|5px|5px|5px" border_width_all="2px" box_shadow_style="preset1"][/et_pb_blog][/et_pb_column_inner][/et_pb_row_inner][/et_pb_column][et_pb_column type="1_4" _builder_version="3.25" custom_padding="|||" custom_padding__hover="|||"][et_pb_sidebar orientation="right" area="sidebar-1" _builder_version="4.9.3" _module_preset="default" custom_margin="|-3px||||"][/et_pb_sidebar][/et_pb_column][/et_pb_section][et_pb_section fb_built="1" specialty="on" _builder_version="4.9.3" _module_preset="default" custom_padding="0px|0px|0px|||"][et_pb_column type="3_4" specialty_columns="3" _builder_version="3.25" custom_padding="|||" custom_padding__hover="|||"][et_pb_row_inner _builder_version="4.9.3" _module_preset="default" custom_margin="|||-44px|false|false" custom_margin_tablet="|||0px|false|false" custom_margin_phone="" custom_margin_last_edited="on|tablet" custom_padding="28px|||||"][et_pb_column_inner saved_specialty_column_type="3_4" _builder_version="4.9.3" _module_preset="default"][et_pb_text _builder_version="4.9.3" _module_preset="default"]-
QUESTION
Week 4 Discusssion
This is a discussion question that I need answered. I need the second portion of the questioned answered thoroughly, both bullet points. I have highlighted it in yellow to show that it is what I need answered. I need this r returned to me completed without any grammatical or punctual errors. The company that I want this question written about is Nissan Motor Corporation.
Choose ONE of the following discussion question options to respond to:
Using Adverse Conditions to a Company's Advantage
- Chakravorti (2010) discusses four methods that corporate innovators use to turn adverse conditions to their advantage. Examine an organization of your choice and briefly discuss how the organization might use one of these methods.
-OR-
Assessing Risk and Reward
- Using the company of your choice, identify an important and difficult decision that they faced. What were the most important risks and the most important rewards of the decision?
- What data, analysis or perspective would you have used to help Sr. Management decide if the rewards outweighed the risks?
| Subject | Business | Pages | 4 | Style | APA |
|---|
Answer
Training Needs Assessment
Introduction
Training and development are very instrumental, especially in the current operational context of most organizations that are endeavoring to enhance optimal throughput from the entire resourceful areas of the organization. Training improves employees’ expertise; it gives room and space for ascertaining key crucial extents of employees’ development (Towler, et al. 2014). In order to establish whether employees have the reading level necessary to succeed in a training program, I would employ various techniques as discussed in the following section.
First, I will conduct formal interviews and tests that call for reading abilities, experience, and skills. In specific, I would carry out written interviews and tests for the employees at the workplace that would incorporate excerpts that best suits the employees’ reading level for them to read and respond to its related questions. This excerpt, for example, will be based on the objectives of the training, the content, and prior practice settings. This training need evaluation would help to identify employees’ reading behavior and the gaps to be addressed in the training program, which in return would benefit the organization and employees from new training prospects (Gupta, 2011). This will enable me to identify what employees need to know in so far as technical or communication knowledge is concerned, and what they are capable to do in terms of mental or manual skills to realize the intended results and the disposition to execute their roles (attitude). However, it should be noted that, the ability of employees to understand what they read does not resonate with their reading level (Cain, 2011).
Furthermore, I would employ an employee performance appraisal interview to identify previous and contemporary performance to find out an area that needs action (Franco-Santos, Lucianetti, & Bourne, 2012). All these are written documents or material that need to be read and interpreted, hence will help in assessing the reading level essential to thrive in a training program.
On the other hand, I would use self-assessments, surveys (Garvin, Edmondson, Gino, 2008), and questionnaires. These are all techniques with a regular written format that call for reading. They can be structured based on the attitude of employees, employees’ job content, the standards of employee performance in line with efficiency and outcome, or on the expertise required to execute the roles of the job proficiently (Verrell, McCabe, 2015). In this analysis, I would be able to establish the reading level based on how they respond to the questionnaires and the way and the degree they use to evaluate themselves.
Lastly, I would employ focus group discussions which provide an open atmosphere for employees to engage in open written questions on various training requirements as I listen to the way they read and articulate their points out. I would ensure that the topics for discussion are all written, and they should be read within a given period of time before being discussed. This helps in knowing the reading level. Additionally, I would employ desk studies for employees on the organizational documents and the analysis of the records which uses secondary information to help in the identification of training needs (Garvin, Edmondson, Gino, 2008). Employees would be required to give their report which will help me establish their reading level essential to thrive in a training program.
.
References
-
Cain, K., & Oakhill, J. (2011). Matthew effects in young readers: Reading comprehension and reading experience aid vocabulary development. Journal of learning disabilities, 44(5), 431-443. Retrieved on October 4, 2020, from:https://journals.sagepub.com/doi/abs/10.1177/0022219411410042
Franco-Santos, M., Lucianetti, L., & Bourne, M. (2012). Contemporary performance measurement systems: A review of their consequences and a framework for research. Management accounting research, 23(2), 79-119.
Garvin, D. A., Edmondson, A. C., & Gino, F. (2008). Is yours a learning organization? Harvard business review, 86(3), 109. Retrieved on October 4, 2020, from:https://www.alnap.org/system/files/content/resource/files/main/r0803h-pdf-eng.pdf
Gupta, K. (2011). A practical guide to needs assessment. John Wiley & Sons.
Towler, A., Watson, A., & Surface, E. A. (2014). Signaling the importance of training. Journal of Managerial Psychology.
Verrell, P. A., & McCabe, N. R. (2015). In their own words: Using self-assessments of college readiness to develop strategies for self-regulated learning. College Teaching, 63(4), 162-170.