What is a strictly dominant strategy? A strategy which always provides a greater payoff when compared to other strategies (cannot provide an equal payoff; that would be weakly dominant). What is a weakly dominant strategy? A strategy which provides a greater than or equal payoff to other strategies. (Think of it as greater than or equal to) What is a pure strategy nash equilibrium? A nash equilibrium which arises from playing a specified strategy (I will play this action specifically) wh...

emigrant - ANS person who leaves own country in order to live in another LIDC case study - ANS Nigeria give one reason how emigration from an LIDC can provide opportunities for that LIDC (include details) - ANS remittances = consumer spending = invest in businesses = boost local economy provide a fact about remittances sent to Nigeria - ANS $22 billion, 2017 provide a fact about remittances and the nigerian economy - ANS remittances represent 6.1% of nigerian economy, 2018 why are most re...

How to Balance off An Account Income Statement Items sales revenue less cost of goods sold _____________________________________ gross profit less operating expenses _____________________________________ operating profit (EBIT) less interest _____________________________________ earnings before tax (EBT, PBT) less tax _____________________________________ net profit (PAT) less dividends, drawings _____________________________________ reserves Balance Sheet Items: Current ASSETS...

EOQ - ANS ROUND(SQRT( (2DCo)/(UCc) ), 0) AVG inventory - ANS SS + Order Q / 2 Inventory turnover - ANS AVG Sales / AVG Inventory AVG Co - ANS Co * ( D/Q ) AVG Cc - ANS U * Cc * (Q/2 ) TAC - ANS AVG Co + AVG Cc (+ AVG Cp) (If quantity discount) stdDDLT - ANS SQRT( AVGLT * stdD^2 + AVGD^2 * stdLT^2 ) SS - ANS stdDDLT * z(SL) Reorder point - ANS DDLT + SS Spec width (S) - ANS USL -LSL Process width (P) - ANS 6 * std

A business owner uses 162 parts each day. Ordering cost for parts is $10 per order, and annual holding cost is 1 dollars per unit. Assume 360 days in a year. What is the Economic Order Quantity for parts? - ANS 1,080 EOQ=SQRT(2DS/H)=SQRT(2*162*360*10/1)=1,080 units. A business owner uses 162 parts each day. Ordering cost for parts is $10 per order, it take 3 days to receive the parts once an order is placed, and annual holding cost is 1 dollars per unit. Assume 360 days in a year. What is ...

What are opioids? - ANS Opioids: • Street use - not for physical pain states. • Patients (signalling in pain pathways) - used in presence of pain. Presence of opioid in presence of pain does not have same effect as recreational use. • Self administration and access, but patient controlled analgesia (PCA) also involves self administration. • Animals and patients pick doses. • Heroin vs morphine - same drug. • Pain must counter reinforcement. • Patients become physically dep...

Key issues with brexit In putting Brexit into effect the UK authorities faced a number of issues: -How much economic damage was the UK willing to take in order to obtain the ability to depart from EU legal standards (as doing so would inevitably result in loss of access to the EU Single Market)? -How could Brexit be made legal reality without causing an enormous legal vacuum to open up? -The Northern Ireland peace agreement had been designed on the assumption that Ireland and the UK would ...

Economics - ANS The production, distribution, and consumption of goods and services. What happens when competition is low? - ANS Production can be inefficient, without being penalized and manpower and other resources can be wasted. Competition leads to lower prices. When you move from monopolies to more competition, is innovation less or more? - ANS More innovation and less cost. Why are companies in business? - ANS to make money 1-10-100 rule - ANS As work moves through a process the pric...

Walk me through your resume - ANS I have 11 GCSES, with a grade 9 in seven of my subjects, and during sixth form I did 4 A levels in which I achieved 3 A*'s and an A. During school, I took part in many finance related work experiences which made me realise that this is the right career for me. from my finance internship at nottingham trent university, i developed my excel skills learning things such as using pivot tables and vlookup.During my 4 months working at the Tandoor Clay Oven limit...