Critical Analysis of Lee Smith's All the Days of Our Lives Essay

Critical Analysis of Lee Smith's All the Days of Our Lives - Essay Example But the scene she sets is dreamy and romantic, full of color, yet devoid of emotion. The reader is made more aware that Helen lives life in a haze of Salem cigarette smoke, romantic daydreams and unrealistic perceptions. The picture she paints of her ex-husband Howard firmly places him in a tidy, orderly, realistic place, with a similar personality, her opposite, it emerges. She cries in bouts of self-pity throughout the story, but there is unconscious humor in the picture painted of a lonely, old lady cutting frozen dinners in two. And still we are in Helen's car, as she segues into the image of herself as a nurse, all in white. Her stream of consciousness has deftly moved the reader from the hot interior of an automobile to the cool, dark sea, and back again to the mundane reality of a divorced woman with too much on her mind, a vivid imagination and a way with words. The 'solid sun', coupled with the 'pest control man' lend an air of irritation and frustration, and her character begins to emerge as less empathetic when she refuses to respond to her apparently helpful neighbor. Within the setting of her home, her attitude to her children, her soap on TV, her lack of impetus, all serve to further dispel the idea of a woman with some spirit. Her 15 year old daughter, Denise, appears to have more common-sense, determination and grasp on reality than her mother. "In some funny way, she is not young at all" and "Denise will never have a ball in her life, and both of them know it." (Smith, p. 3) The reality of the toddler, the put-upon teenager and angry little boy, all gathered in a small, chaotic domesticity are not to her liking, but she can block them out with the imaginary drama, the luxury and wealth on the screen which she prefers to immerse herself in. The question arises as to whether Helen is selfish, weak, ineffectual or a victim of circumstances beyond her control. The answer may be that she is all of these. The atmosphere she soaks up from her TV serves to remove her from the reality of her life. She gives desultory attention to real people, avid interest to soap actors. It becomes more apparent when Judy, her childless sister arrives, that Helen is dependent on others. Judy faces life as it is and she acts as a catalyst to bring Helen down to earth for a time, reminding her of the eccentricities of Howard. She takes off Helen's 'rose-tinted spectacles', with honesty and humor and the result is that: "Even tragic Helen has to laugh." (Smith, p. 6) Their interaction has defined the differences in the sisters and the roles they play for each other. It has made Helen think about marriages, her sister's, her parent's and shows the reader that despite negative experience, Helen's perceptions remain detached from reality. "Helen had known all about marriage anyway, that it was like a beautiful pastel country out there, waiting for her to

Short answers Essay Example | Topics and Well Written Essays - 500 words

Short answers - Essay Example ng Congressional action with his authorship of the Federalist Papers and his stern belief in a more balanced and financially fair system of government expenditures. An early and notable military leader during the war for American independence, Washington eventually rose to become the first president of the United States. A devout American patriot, Washington was respected by many citizens in that time as both a strong military might and a fair potential president. Despite Washingtons retirement to Mount Vernon prior to being elected the first American president, he remained influential in many governmental matters until his death in 1797, supporting the idea that Congress should fund the debt of the nation. An early puritanical leader, Hutchinson maintained somewhat radical religious beliefs for that time, eventually establishing a bible study lesson for citizens who had migrated to the New World in the 1600s. Her viewpoints on religion eventually caused her to be banished from the early colonial society, however her progressive thinking in relation to religion serves, today, as a map for the evolution of religious beliefs in early colonial America. Angry over Britains imposition of excessive taxation, colonial Americans opened up crates of tea, which was set for exportation to other nations, and dumped it into the harbor to prevent England from receiving profit and taxes on the tea. The colonists were also angry that imported tea distributors/manufacturers were not paying import taxes, which could have assisted the economy of early America. This act enraged England and is noted as the starting point for the Revolutionary War. Angry over Britains constant imposition of taxes on the colonists without their approval, the term no taxation without representation involved the early colonial American belief that taxes cannot and should not be expected to be paid (or acknowledged) without some form of governmental representation that speaks on behalf of citizens.

Purpose for Educational Leadership Personal Statement

Purpose for Educational Leadership - Personal Statement Example With my master degree, I was credited with 3 Advanced Certificates in Management from the same university, to wit: Advanced Certificate in Information Management, Advanced Certificate in Telecommunication Management, and Advanced Certificate in Human Resource. My interest in educational leadership is an expected offshoot of an increased awareness in contemporary leadership theories gained from human resources management courses. I have started to remunerate on the development of leadership theories through time – mostly focusing on leadership styles and perspectives on motivating one’s followers. Despite the enormous amounts of theoretical framework on guidelines for effective leadership, there still exist conflicts in organizations that could not be resolved by the so-called leaders who have supposedly gained so much expertise on the field of human behavior in organizations which highlight modules on managing conflict, change, culture, diversity, and teamwork, among others. My educational background equipped me with conceptual frameworks on management and technology. I am aware that the history of education has evolved from a curriculum comprising of a simple theoretical framework to the complex structure we have today. The development of technology opened a whole spectrum of information and educational opportunities which enhanced the capabilities of individuals. Murphy, et.al. (2002) averred that â€Å"school leaders, educational administration faculty, and policymakers are endeavouring to redefine the profession in an era of ferment, during which the legitimacy of its knowledge base and the appropriateness of programs for preparing school leaders have been thrown into question†. More and more educational programs and institutions opt to apply leadership theories for diverse reasons. In this regard, I am interested to look into the increasing incidents for educational institutions’ use of adjunct faculty to augment teaching needs and requirements, not duly supported by full-time faculty members.     

Managing Organisational Strategy Essay Example | Topics and Well Written Essays - 5000 words

Managing Organisational Strategy - Essay Example According to the paper findings  the family business of Bettys and Taylors is based on the set of several values. All these values are quite clear for the employees of the firm as well from their first day at work. All the practices that are observed in the company are highly qualitative maintaining the standard of the brand and the family name behind the management of the company.As the discussion highlights most of the African makers are prone to observe huge creation development because tea hedges achieve ideal preparation age, and processing aptitudes of little producers make strides. For instance, the generation in Kenya is said to be developed by 2.3 percent on yearly basis from the amount of 236,300 tons to 304,000 tons. This period of development was estimated from 2000 to 2010. On the other hand the rate of development in Tanzania and Uganda are estimated to be 1.7 percent and 2.7 percent respectively. One of the most significant teas sending out nations in the region of A sia should better encounter minor decreases in fares that should also be in accordance with the usual developments in wage and populace that might cultivate down home utilization. For instance, we can observe the case of Indian and Indonesia that it might diminish by the rate of 2.4 percent to 150 890 tons and also some studies reveals the figures of 1.1 percent to 87 000 tons, separately.  Bettys and Taylors don't simply deal with their staff but they take care of suppliers as well.

Problem Identification Essay Example | Topics and Well Written Essays - 1000 words

Problem Identification - Essay Example Change management encompasses planning, oversight or governance, project management, testing, and implementation. Knowledge Gaps: As the infusion of mass media information into a social system increases, segments of the population with higher socio-economic status tend to acquire this information at a faster rate than the lower status segments. That gap in knowledge between these segments is defined as knowledge gap. The organization over a period of time has created a definite distance between what is planned on the design board and what is on the field. This may not have been a deliberate act of separation, but very un-intentional as the changes happened over extended periods of time. When the copiers were actually placed at the customer premises, and the field service teams started facing problems and were unable to service them for whatever reasons the replace warranty given by the organization started becoming costly and the service manuals released prior to the product release were becoming more and more not-so-relevant. Research methodology: This research will use the mixed-method design, but will lean more toward the evidences that have been quoted in various knowledge management studies. Since the Knowledge management area of study is relatively new area of study not much of quantitative information is readily available in free domain. This will be the primary limitation of the research

The Iran Iraq War Essay Example for Free

The Iran Iraq War Essay World History: Mr. Ricky Waldon| Iran – Iraq War | Iran-Iraq War (1980-1988) The Iran-Iraq War permanently altered the course of Iraqi history. It strained Iraqi political and social life, and led to severe economic dislocations. Viewed from a historical perspective, the outbreak of hostilities in 1980 was, in part, just another phase of the ancient Persian-Arab conflict that had been fueled by twentieth-century border disputes. Many observers, however, believe that Saddam Husseins decision to invade Iran was a personal miscalculation based on ambition and a sense of vulnerability. Saddam Hussein, despite having made significant strides in forging an Iraqi nation-state, feared that Irans new revolutionary leadership would threaten Iraqs delicate SunniShia balance and would exploit Iraqs geostrategic vulnerabilitiesIraqs minimal access to the Persian Gulf, for example. In this respect, Saddam Husseins decision to invade Iran has historical precedent; the ancient rulers of Mesopotamia, fearing internal strife and foreign conquest, also engaged in frequent battles with the peoples of the highlands. The Iran-Iraq War was multifaceted and included religious schisms, border disputes, and political differences. Conflicts contributing to the outbreak of hostilities ranged from centuries-old Sunni-versus-Shia and Arab-versus-Persian religious and ethnic disputes, to a personal animosity between Saddam Hussein and Ayatollah Khomeini. Above all, Iraq launched the war in an effort to consolidate its rising power in the Arab world and to replace Iran as the dominant Persian Gulf state. Phebe Marr, a noted analyst of Iraqi affairs, stated that the war was more immediately the result of poor political judgement and miscalculation on the part of Saddam Hussein, and the decision to invade, taken at a moment of Iranian weakness, was Saddams. Iraq claimed territories inhabited by Arabs (the Southwestern oil-producing province of Iran called Khouzestan), as well as Iraqs right over Shatt el-Arab (Arvandroud). Iraq and Iran had engaged in border clashes for many years and had revived the dormant Shatt al Arab waterway dispute in 1979. Iraq claimed the 200-kilometer channel up to the Iranian shore as its territory, while Iran insisted that the thalwega line running down the middle of the waterwaynegotiated last in 1975, was the official border. The Iraqis, especially the Baath leadership, regarded the 1975 treaty as merely a truce, not a definitive settlement. The Iraqis also perceived revolutionary Irans Islamic agenda as threatening to their pan-Arabism. Khomeini, bitter over his expulsion from Iraq in 1977 after fifteen years in An Najaf, vowed to avenge Shia victims of Baathist repression. Baghdad became more confident, however, as it watched the once invincible Imperial Iranian Army disintegrate, as most of its highest ranking officers were executed. In Khuzestan (Arabistan to the Iraqis), Iraqi intelligence officers incited riots over labor disputes, and in the Kurdish region, a new rebellion caused the Khomeini government severe troubles. As the Baathists planned their military campaign, they had every reason to be confident. Not only did the Iranians lack cohesive leadership, but the Iranian armed forces, according to Iraqi intelligence estimates, also lacked spare parts for their American-made equipment. Baghdad, on the other hand, possessed fully equipped and trained forces. Morale was running high. Against Irans armed forces, including the Pasdaran (Revolutionary Guard) troops, led by religious mullahs with little or no military experience, the Iraqis could muster twelve complete mechanized divisions, equipped with the latest Soviet materiel. With the Iraqi military buildup in the late 1970s, Saddam Hussein had assembled an army of 190,000 men, augmented by 2,200 tanks and 450 aircraft. In addition, the area across the Shatt al Arab posed no major obstacles, particularly for an army equipped with Soviet river-crossing equipment. Iraqi commanders correctly assumed that crossing sites on the Khardeh and Karun rivers were lightly defended against their mechanized armor divisions; moreover, Iraqi intelligence sources reported that Iranian forces in Khuzestan, which had formerly included two divisions distributed among Ahvaz, Dezful, and Abadan, now consisted of only a number of ill-equipped battalion-sized formations. Tehran was further disadvantaged because the area was controlled by the Regional 1st Corps headquartered at Bakhtaran (formerly Kermanshah), whereas operational control was directed from the capital. In the year following the shahs overthrow, only a handful of company-sized tank units had been operative, and the rest of the armored equipment had been poorly maintained. For Iraqi planners, the only uncertainty was the fighting ability of the Iranian air force, equipped with some of the most sophisticated American-made aircraft. Despite the execution of key air force commanders and pilots, the Iranian air force had displayed its might during local riots and demonstrations. The air force was also active in the wake of the failed United States attempt to rescue American hostages in April 1980. This show of force had impressed Iraqi decision makers to such an extent that they decided to launch a massive preemptive air strike on Iranian air bases in an effort similar to the one that Israel employed during the June 1967 Arab-Israeli War. Iraqi Offensives, 1980-82 Despite the Iraqi governments concern, the eruption of the 1979 Islamic Revolution in Iran did not immediately destroy the Iraqi-Iranian rapprochement that had prevailed since the 1975 Algiers Agreement. As a sign of Iraqs desire to maintain good relations with the new government in Tehran, President Bakr sent a personal message to Khomeini offering his best wishes for the friendly Iranian people on the occasion of the establishment of the Islamic Republic. In addition, as late as the end of August 1979, Iraqi authorities extended an invitation to Mehdi Bazargan, the first president of the Islamic Republic of Iran, to visit Iraq with the aim of improving bilateral relations. The fall of the moderate Bazargan government in late 1979, however, and the rise of Islamic militants preaching an expansionist foreign policy soured Iraqi-Iranian relations. The principal events that touched off the rapid deterioration in relations occurred during the spring of 1980. In April the Iranian-supported Ad Dawah attempted to assassinate Iraqi foreign minister Tariq Aziz. Shortly after the failed grenade attack on Tariq Aziz, Ad Dawah was suspected of attempting to assassinate another Iraqi leader, Minister of Culture and Information Latif Nayyif Jasim. In response, the Iraqis immediately rounded up members and supporters of Ad Dawah and deported to Iran thousands of Shias of Iranian origin. In the summer of 1980, Saddam Hussein ordered the executions of presumed Ad Dawah leader Ayatollah Sayyid Muhammad Baqr as Sadr and his sister. In September 1980, border skirmishes erupted in the central sector near Qasr-e Shirin, with an exchange of artillery fire by both sides. A few weeks later, Saddam Hussein officially abrogated the 1975 treaty between Iraq and Iran and announced that the Shatt al Arab was returning to Iraqi sovereignty. Iran rejected this action and hostilities escalated as the two sides exchanged bombing raids deep into each others territory, beginning what was to be a protracted and extremely costly war. Baghdad originally planned a quick victory over Tehran. Saddam expected the invasion of the in the Arabic-speaking, oil-rich area of Khuzistan to result in an Arab uprising against Khomeinis fundamentalist Islamic regime. This revolt did not materialize, however, and the Arab minority remained loyal to Tehran. On September 22, 1980, formations of Iraqi MiG-23s and MiG21s attacked Irans air bases at Mehrabad and Doshen-Tappen (both near Tehran), as well as Tabriz, Bakhtaran, Ahvaz, Dezful, Urmia (sometimes cited as Urumiyeh), Hamadan, Sanandaj, and Abadan. Their aim was to destroy the Iranian air force on the grounda lesson learned from the Arab-Israeli June 1967 War. They succeeded in destroying runways and fuel and ammunition depots, but much of Irans aircraft inventory was left intact. Iranian defenses were caught by surprise, but the Iraqi raids failed because Iranian jets were protected in specially strengthened hangars and because bombs designed to destroy runways did not totally incapacitate Irans very large airfields. Within hours, Iranian F-4 Phantoms took off from the same bases, successfully attacked strategically important targets close to major Iraqi cities, and returned home with very few losses. Simultaneously, six Iraqi army divisions entered Iran on three fronts in an initially successful surprise attack, where they drove as far as eight kilometers inland and occupied 1,000 square kilometers of Iranian territory. As a diversionary move on the northern front, an Iraqi mechanized mountain infantry division overwhelmed the border garrison at Qasr-e Shirin, a border town in Bakhtaran (formerly known as Kermanshahan) Province, and occupied territory thirty kilometers eastward to the base of the Zagros Mountains. This area was strategically significant because the main Baghdad-Tehran highway traversed it. On the central front, Iraqi forces captured Mehran, on the western plain of the Zagros Mountains in Ilam Province, and pushed eastward to the mountain base. Mehran occupied an important position on the major north-south road, close to the border on the Iranian side. The main thrust of the attack was in the south, where five armored and mechanized divisions invaded Khuzestan on two axes, one crossing over the Shatt al Arab near Basra, which led to the siege and eventual occupation of Khorramshahr, and the second heading for Susangerd, which had Ahvaz, the major military base in Khuzestan, as its objective. Iraqi armored units easily crossed the Shatt al Arab waterway and entered the Iranian province of Khuzestan. Dehloran and several other towns were targeted and were rapidly occupied to prevent reinforcement from Bakhtaran and from Tehran. By mid-October, a full division advanced through Khuzestan headed for Khorramshahr and Abadan and the strategic oil fields nearby. Other divisions headed toward Ahvaz, the provincial capital and site of an air base. Supported by heavy artillery fire, the troops made a rapid and significant advancealmost eighty kilometers in the first few days. In the battle for Dezful in Khuzestan, where a major air base is located, the local Iranian army commander requested air support in order to avoid a defeat. President Bani Sadr, therefore, authorized the release from jail of many pilots, some of whom were suspected of still being loyal to the shah. With the increased use of the Iranian air force, the Iraqi progress was somewhat curtailed. The last major Iraqi territorial gain took place in early November 1980. On November 3, Iraqi forces reached Abadan but were repulsed by a Pasdaran unit. Even though they surrounded Abadan on three sides and occupied a portion of the city, the Iraqis could not overcome the stiff resistance; sections of the city still under Iranian control were resupplied by boat at night. On November 10, Iraq captured Khorramshahr after a bloody house-to-house fight. The price of this victory was high for both sides, approximately 6,000 casualties for Iraq and even more for Iran. Iraqs blitz-like assaults against scattered and demoralized Iranian forces led many observers to think that Baghdad would win the war within a matter of weeks. Indeed, Iraqi troops did capture the Shatt al Arab and did seize a forty-eight-kilometer- wide strip of Iranian territory. Iran may have prevented a quick Iraqi victory by a rapid mobilization of volunteers and deployment of loyal Pasdaran forces to the front. Besides enlisting the Iranian pilots, the new revolutionary regime also recalled veterans of the old imperial army, although many experienced officers, most of whom had been trained in the United States, had been purged. Furthermore, the Pasdaran and Basij (what Khomeini called the Army of Twenty Million or Peoples Militia) recruited at least 100,000 volunteers. Approximately 200,000 soldiers were sent to the front by the end of November 1980. They were ideologically committed troops (some members even carried their own shrouds to the front in the expectation of martyrdom) that fought bravely despite inadequate armor support. For example, on November 7 commando units played a significant role, with the navy and air force, in an assault on Iraqi oil export terminals at Mina al Bakr and Al Faw. Iran hoped to diminish Iraqs financial resources by reducing its oil revenues. Iran also attacked the northern pipeline in the early days of the war and persuaded Syria to close the Iraqi pipeline that crossed its territory. Irans resistance at the outset of the Iraqi invasion was unexpectedly strong, but it was neither well organized nor equally successful on all fronts. Iraq easily advanced in the northern and central sections and crushed the Pasdarans scattered resistance there. Iraqi troops, however, faced untiring resistance in Khuzestan. President Saddam Hussein of Iraq may have thought that the approximately 3 million Arabs of Khuzestan would join the Iraqis against Tehran. Instead, many allied with Irans regular and irregular armed forces and fought in the battles at Dezful, Khorramshahr, and Abadan. Soon after capturing Khorramshahr, the Iraqi troops lost their initiative and began to dig in along their line of advance. Tehran rejected a settlement offer and held the line against the militarily superior Iraqiforce. It refused to accept defeat, and slowly began a series of counteroffensives in January 1981. Both the volunteers and the regular armed forces were eager to fight, the latter seeing an opportunity to regain prestige lost because of their association with the shahs regime. Irans first major counterattack failed, however, for political and military reasons. President Bani Sadr was engaged in a power struggle with key religious figures and eager to gain political support among the armed forces by direct involvement in military operations. Lacking military expertise, he initiated a premature attack by three regular armored regiments without the assistance of the Pasdaran units. He also failed to take into account that the ground near Susangerd, muddied by the preceding rainy season, would make resupply difficult. As a result of his tactical decision making, the Iranian forces were surrounded on three sides. In a long exchange of fire, many Iranian armored vehicles were destroyed or had to be abandoned because they were either stuck in the mud or needed minor repairs. Fortunately for Iran, however, the Iraqi forces failed to follow up with another attack. Iran stopped Iraqi forces on the Karun River and, with limited military stocks, unveiled its human wave assaults, which used thousands of Basij (Popular Mobilization Army or Peoples Army) volunteers.

Managerial economics

Managerial economics Question I : Why would a firm choose to remain in an industry in which it makes an economic profit of zero? Name a Vietnamese firm that does this. A firm will make an economic profit of zero if its sale is a normal profit. In other words, it   cover both out of pocket expense and its opportunity cost or accounting profit equals the opportunity cost. It means that economic = 0 which be called normal profit. Suppose that, accounting profit exceeds the opportunity cost is called economic profit, beside that, accounting profit less than opportunity cost is called economic loss. In short run, a company want to maximize its profit (or minimize its loss) should produce at a certain level where additional revenue is equal to the additional cost of producing as MR = MC rule. However, the market price is not always enough high, the company get an economic profit. So it will face to out put price at the normal profit or even operating loss. The company gets an economic profit of zero when the price equals the average cost (AC) or following the formula: MC = MR = P = AC. At this time, the its sale covers fix cost, varible cost and opportunity cost so that, the firm remains in an industry and to get economic income in future. In Vietnam, firms sell its product with high competition market in the main farm maket. They sell its product at the the profit only enough for their opportunity cost. Because of all most this compay are belong the state company, so that, managers are requested to get profit at least equal interest rate. They must ensure their workersalary. Question II : How realistic is the assumption of constant variable unit costs in volume cost profit analysis? Does it detract a great deal from the value of this analysis? What is a large volume firm in Vietnam that probably has a variable unit cost?   Volume cost profit analysis is an economic analysis which is used in sure situation. It evaluate the affect of change in quantity of product on cost and profit. It bases on some limiting assumptions when the price, average variable cost are constant. So the firm may forcast its cost and sales. Conducting a break even analysis is a formula of simple math as: Break even Point = Fiwed Costs / (Unit Selling Price Variable Cost)  Ã‚   As Keat and Young (2009) wrote, â€Å"if we assum the relationship between average variable cost and price for each product remains the same and the quantities of various products are produced in constant proportions, such as assumption does not appear to be unrealistic for relatively small changes in total revenue†. However, as we known, if the company produces more than a product, which each of products has a different price and a different variable cost. So we not use above formular to caculate Break even Point. But others consider it like the most way. This analysis does not detract form its value in assumption. All most of firms in Vietnam are at small or medium size. They have variable cost and produce just one or two products. They can estimate the quantity of each at constantproportion and use average variable cost per unit to caculate the Break even Point. Question III : Price discrimination is often defended on the basis of equity. What is meant by this statement? Comment on its validity in terms of a USA company selling some products in Vietnam in relatively cheaper prices than in the USA. Price discrimination is a statement which an identical product is sold in different market at different prices. There are three degrees price discrimination. First degree of price discrimination, the firm will charge prices along demand curve all the way to the point where demand equals marginal cost. Second degree of price discrimination happens when a company use a differential price by block of service. For example in telecommunication fields in Vietnam, the price of first block of 30s per a call is different from the next block after 30s. Third degree of price discrimination is the most popular. The production may go up if the demand curve is not straight line. So customers willing to pay at low price to get the benefit than in condition of a single price monopoly, beside that, others will pay higher prices in lower price. USA firms sell several products in Vietnam with cheapper prices than in the USA. For example: the Microsoft sofware is sold in Vietnam with cheapper prices than in the USA. Almost Vietnamese can get it while in America, they can not affort to buy. Because the Vietnam market is more competitive than USAmarket. And finally, the demand curve in Vietnam market is more elastic than USAmarket. Question IV : Briefly explain the structure-conduct-performance approach to the study of industrial economic. How does this approac fit in the Vietnamese economy? The structure conduct performance (S-C-P) is used to connect elements of market structure to performance in industrial economics. On the other hand, this structure studies the way that firms and markets are organized and affected to the economy from point of view of social welfare. The industry structure is the basic of S-C-P which include buyer and seller concentration, product differentiation, condition of entry, and the elasticity of demand for the product. Performance is the measured in terms of welfare maximization. Besides, conduct is reqired pricing strategies, promotion, advertising, product development, legal tactics, and choice of product as well as the potential for collusion among companies. As Keat and Young (2009) pointed out that: â€Å"An in dusstry market with great concentration will fall far short of reaching such a goal. Its performance will be marked by both productive and allocative inefficiencies. Price will be above marginal cost, the choice and ultimately profits will be higher than under competitive circumstances. This high level of profitability arises from the industrys pricing policy and not because of any cost advantages†. (p. 374). The outcome of S-C-P method is that high industry concentration becomes a cause for the intervention of government against possible mergers. In Vietnam, the S-C-P approach is applicable for strategy researchers. It helps to evaluate the existence of competition in the industry, moreover, it measures the performance of industry and finds out its potential. Question V : Suppose the Sri Lanka government awarded contracts to private companies to rebuild the countrys infrastructure damaged by the tsunami and it based its contracts on a percentage of the cost of the reconstruction. Would this constitute a moral hazard? If so, what would the government need to do to prevent such a problem? Are these kinds of â€Å"cost plus† contracts used in Vietnam? By whom? The term of Mral hazard is appeared when a loan is made the private companies may choose to change transaction. Then, this company receive the loan, it is easier to get the money to use other purposes. Sri lanka government awarded contracts to private companies to rebuild the countrys infrastructure damage by the tsunami and it based its contracts on a percentage of the cost of reconstruction. This situation it a cost-plus price practive. In other words, the private firm will caculate the varible cost, add to it an allocation for fixed cost, after that add a profit percentage to reach a total cost of the contract. May be lead to the prolem of moral hazard so that, private firms will try go down its cost due to increase their earning. Consequently, the project is the lower quality. The government have to control closely and enforce a quality level after the contract is signed. There are many contruction in Vietnam which Vietnamese government awards contracts to build such as: buildings, bridges and highways. They also used the cost-plus pricing in contracts. However, to avoid the problem of moral hazard, the government may choose prestigious companies and apply o procedure to control better quality of projects. Question VI : How is the companys optimal capital budget determined? Does the decision-making process in this case resemble the procedure used in determined the price and quantity of output? How? The key of optimal capital bubget determined is the evaluating worth of investment projects. It means that capital project must be used correctly the cash flow and the time value of money. There are two methods which are considered as: the payback method and the accounting rate of return method. The payback method calculate the period of time essentially to get back the original investment. The accounting rate of return method is outcome (percentage) from average annual profits. These methods discount cash flows to the net present value (NPV), internal rate of return (IRR) and profitability index (PI). There is a capital budgeting model which companies should use to optimize capital budgeting plan. Every project will be used internal rate of return (IRR) due to compare with marginal cost of capital (MCC) to search the optimal point on the graph.(with the vertical axis is IRR and MCC, the horizontal axis is the investment capital) where the capital budgeting of the firm is optimixed. When IRR = MCC, at that time, that is the point of the optimal investment budget. In addition, it also similar the procedure used in determing the price and quatity of out put, the company should operate a capacity where the marginal revenue (MR) equas the maginal cost (MC), MR = MC. More importantly, firms should do the amount of the investments at the point where the internal rate of return (IRR) equals the marginal cost of capital (MCC), IRR = MCC. Question VII : Explain the difference between the Moving Averrage approach and Exponential smoothing approach to forecasting. Which do you think would be better for your company? Why? The moving average approach and exponential smoothing approach is also called smoothing method. This method use an averrage of past observation to forecast future if we consider that the future is the reflection of several of past result. Acctually, the past observation to forecast one period ahead . the equation is following: E t+1 = ( Xt + Xt-1 ++ Xt-N+1 ) / N Where: E t+1 = Next (t+1) forecast period Xt , Xt-1 = Actual valual at their respective times N = Number of observation included in average Exponential smoothing method is different the moving average method. We can see its treat all the past observation as the same degree of important. However, the forecaster would belive the older past result the lesser suitable to future trend. So that, the exponential smoothing method the smaller weighing factor for older past results in the following: E t+1 = wXt + (1-w)Et Where: w is the weight assigned to an actual observation at period t. Making forecast, the fore caster no need collecting previous result as many as moving average method needs. More importantly, the w value is determined. In summary, both these forecasting methods have several advantages and disadvantages. The advantage is the simplicity of method. So two methods should be used just for short term estimates. Question VIII : A firm is making a long-run planning decision. It wants to decide on the optimal size of plant and labor force. It is considering building a medium-sized plant and hiring 100 workers. Engineering estimates suggest that at those levels, the marginal product of capital will be 100 and the marginal product of labor will be 75. If the wage rate is $5 and the rental rate on capital is $10, is the firmmaking right decision? Support your aswer. We have: MPL = 75, MPK = 100 with (L = labor: variable input; K = Capital: varible input) To maximize its profit, the firm must use two inputs (labor and capital) to meet the denmand of marginal revenue of K and L input. Wage rate of labor: w = $5 Rental rate on capital: r = $10 Leading to:   MPL   / w = 75/5 = 15 (1) MPK   / r = 100/10 = 10 (2) From (1) (2), we can see that the firm is not making the right decision or they should hire more labor and reduce capital rental value.