Assignment (Microeconomics) Example | Topics and Well Written Essays - 500 words - 1

(Microeconomics) - Assignment Example The fall in the prices of butter could also be due to the changes in the supply and demand as when the prices started to increase, more and more producers will be willing to supply the butter in the market thus driving down the prices and restoring the equilibrium in the market. Another possible explanation of the same can be found in the substitute goods as when the price of butter is increasing, the demand for the substitute product i.e. margarine may also be increasing. However, when the demand for margarine has started to decrease, the price of butter also fell. In perfectly competitive markets there are large number of sellers and buyers selling homogenous products. Further, everyone has the complete information about the market. In such a situation, the economic profit will eventually disappear because when marginal cost equals marginal revenue (equilibrium condition in the perfect markets) the economic profits will be zero. Further, since there are large number of sellers and buyers therefore if one producer charges higher, more sellers will come into the market and drive the profits down and eventually economic profit will disappear. Marginal principle states that profits will be maximized when marginal cost is equal to the marginal revenue. When marginal revenue is higher than the marginal cost, the producer will produce more units of goods and will eventually force the prices to come down to the level of marginal cost. Thus producer will decide the production of any good based on the marginal cost i.e. as long as it is lower than marginal revenue, firm will adjust its production to achieve until both are equal. Since average variable cost is greater than price, firm should shut down its production because it is not even recovering its average variable cost. The accountant’s statement is flawed in the sense that she is equating total

Film and critical Essay Example | Topics and Well Written Essays - 2000 words

Film and critical - Essay Example Quentin Tarantino’s achievement in his film Pulp Fiction was to create the ultimate example of a post-modern film. The work has a sense of nostalgia while creating something that was new and interesting for a generation that was looking to find out I there was something new to be seen. Tarantino created a work that was written in such a way as to engage the viewer in confusion that had to be unraveled and evaluated for its ultimate content. The use of pop culture imagery and dark counterculture lifestyles creates a universe that feels as though it is just off center to reality. The storyline is non-linear, creating complex web of interconnections between the characters. It is not hard to understand the film, but there is a world of theory that can be explored in the narrative allowing for a fresh perspective to be gained through multiple viewings. has a surreal quality while remaining intense in harsh strokes. The quotes that come from the dialogue have become a part of contemporary slang, giving the film elevated status in pop culture. The achievement of this film is that it appeals both intellectually and gutturally. When it was released, it was a huge success, re-launching the career of John Travolta and instantly elevating Tarantino into celebrity. The film became influential in subsequent work and instigated a new point of view. Analysis from a political point of view allows for an understanding of the position that was held in the early 1990’s as the political landscaping was changing. Released in 1994, the film reflects a growing conservatism that was cynical reaction to a liberalist attitude whose idealism had fallen short of the dream. Creating an immersion into violence, the film creates the feeling that order can be maintained only from a patriarchal dominance that has swift and bloody retribution. According to