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#### Annotation 1436284226828

 #electromagnetism #physics As you can imagine, the smaller you make the area segments, the closer this gets to the true mass, since your approximation of constant sigma is more accurate for smaller segments. If you let the segment area dA approach zero and N approach infinity, the summation becomes integration, and you have Mass = $$\int_{S}\sigma(x, y)dA$$ : This is the area integral of the scalar function sigma(x, y) over the surface S.

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#### Flashcard 1438021192972

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#italian #italian-grammar
Question
Italian has three types of article: the definite article il, lo; the indefinite article un, una; and the [...] dei, delle, degli ‘some, any’. (For example: il ragazzo ‘the boy’; una lezione ‘a lesson’; dei bambini ‘some children’.)
partitive

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Italian has three types of article: the definite article il, lo (etc.) ‘the’; the indefinite article un, una (etc.) ‘a’; and the partitive dei, delle, degli (etc.) ‘some, any’. (For example: il ragazzo ‘the boy’; una lezione ‘a lesson’; dei bambini ‘some children’.)

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#### Annotation 1438452419852

 #python #sicp Functions that manipulate functions are called higher-order functions.

1.6 Higher-Order Functions
t functions. These patterns can also be abstracted, by giving them names. To express certain general patterns as named concepts, we will need to construct functions that can accept other functions as arguments or return functions as values. <span>Functions that manipulate functions are called higher-order functions. This section shows how higher-order functions can serve as powerful abstraction mechanisms, vastly increasing the expressive power of our language. 1.6.1 Functions as Arguments

#### Annotation 1438456614156

 #python #sicp With higher-order functions, we begin to see a more powerful kind of abstraction: some functions express general methods of computation, independent of the particular functions they call.

1.6 Higher-Order Functions
153589902 1.6.2 Functions as General Methods Video: Show Hide We introduced user-defined functions as a mechanism for abstracting patterns of numerical operations so as to make them independent of the particular numbers involved. <span>With higher-order functions, we begin to see a more powerful kind of abstraction: some functions express general methods of computation, independent of the particular functions they call. Despite this conceptual extension of what a function means, our environment model of how to evaluate a call expression extends gracefully to the case of higher-order functions, withou

#### Annotation 1438459235596

 #python #sicp naming and functions allow us to abstract away a vast amount of complexity

1.6 Higher-Order Functions
func improve(update, close, guess) func golden_update(guess) func square_close_to_successor(guess) func approx_eq(x, y, tolerance) This example illustrates two related big ideas in computer science. First, <span>naming and functions allow us to abstract away a vast amount of complexity. While each function definition has been trivial, the computational process set in motion by our evaluation procedure is quite intricate. Second, it is only by virtue of the fact that w

#### Annotation 1438460546316

 #python #sicp it is only by virtue of the fact that we have an extremely general evaluation procedure for the Python language that small components can be composed into complex processes.

1.6 Higher-Order Functions
puter science. First, naming and functions allow us to abstract away a vast amount of complexity. While each function definition has been trivial, the computational process set in motion by our evaluation procedure is quite intricate. Second, <span>it is only by virtue of the fact that we have an extremely general evaluation procedure for the Python language that small components can be composed into complex processes. Understanding the procedure of interpreting programs allows us to validate and inspect the process we have created. As always, our new general method improve needs a test to check i

#### Annotation 1438464216332

 #python #sicp Like local assignment, local def statements only affect the current local frame. These functions are only in scope while sqrt is being evaluated. Consistent with our evaluation procedure, these local def statements don't even get evaluated until sqrt is called.

1.6 Higher-Order Functions
de the body of other definitions. >>> def sqrt(a): def sqrt_update(x): return average(x, a/x) def sqrt_close(x): return approx_eq(x * x, a) return improve(sqrt_update, sqrt_close) <span>Like local assignment, local def statements only affect the current local frame. These functions are only in scope while sqrt is being evaluated. Consistent with our evaluation procedure, these local def statements don't even get evaluated until sqrt is called. Lexical scope. Locally defined functions also have access to the name bindings in the scope in which they are defined. In this example, sqrt_update refers to the name a , which is

#### Annotation 1438465264908

 #python #sicp This discipline of sharing names among nested definitions is called lexical scoping. Critically, the inner functions have access to the names in the environment where they are defined (not where they are called).

1.6 Higher-Order Functions
ed. Lexical scope. Locally defined functions also have access to the name bindings in the scope in which they are defined. In this example, sqrt_update refers to the name a , which is a formal parameter of its enclosing function sqrt . <span>This discipline of sharing names among nested definitions is called lexical scoping. Critically, the inner functions have access to the names in the environment where they are defined (not where they are called). We require two extensions to our environment model to enable lexical scoping. Each user-defined function has a parent environment: the environment in which it was defined. When a us

#### Annotation 1438466313484

 #python #sicp We require two extensions to our environment model to enable lexical scoping. Each user-defined function has a parent environment: the environment in which it was defined.When a user-defined function is called, its local frame extends its parent environment.

1.6 Higher-Order Functions
enclosing function sqrt . This discipline of sharing names among nested definitions is called lexical scoping. Critically, the inner functions have access to the names in the environment where they are defined (not where they are called). <span>We require two extensions to our environment model to enable lexical scoping. Each user-defined function has a parent environment: the environment in which it was defined. When a user-defined function is called, its local frame extends its parent environment. Previous to sqrt , all functions were defined in the global environment, and so they all had the same parent: the global environment. By contrast, when Python evaluates the first tw

#### Annotation 1438470507788

 #python #sicp The sqrt_update function carries with it some data: the value for a referenced in the environment in which it was defined. Because they "enclose" information in this way, locally defined functions are often called closures.

1.6 Higher-Order Functions
r than the global environment. A local function can access the environment of the enclosing function, because the body of the local function is evaluated in an environment that extends the evaluation environment in which it was defined. <span>The sqrt_update function carries with it some data: the value for a referenced in the environment in which it was defined. Because they "enclose" information in this way, locally defined functions are often called closures. 1.6.4 Functions as Returned Values Video: Show Hide We can achieve even more expressive power in our programs by creating functions whose returned values are themselves funct

#### Annotation 1438471556364

 #python #sicp An important feature of lexically scoped programming languages is that locally defined functions maintain their parent environment when they are returned.

1.6 Higher-Order Functions
ocally defined functions are often called closures. 1.6.4 Functions as Returned Values Video: Show Hide We can achieve even more expressive power in our programs by creating functions whose returned values are themselves functions. <span>An important feature of lexically scoped programming languages is that locally defined functions maintain their parent environment when they are returned. The following example illustrates the utility of this feature. Once many simple functions are defined, function composition is a natural method of combination to include in our progr

#### Annotation 1438472604940

 #python #sicp We can use higher-order functions to convert a function that takes multiple arguments into a chain of functions that each take a single argument. More specifically, given a function f(x, y) , we can define a function g such that g(x)(y) is equivalent to f(x, y) . Here, g is a higher-order function that takes in a single argument x and returns another function that takes in a single argument y . This transformation is called currying.

1.6 Higher-Order Functions
d is a powerful general computational method for solving differentiable equations. Very fast algorithms for logarithms and large integer division employ variants of the technique in modern computers. 1.6.6 Currying Video: Show Hide <span>We can use higher-order functions to convert a function that takes multiple arguments into a chain of functions that each take a single argument. More specifically, given a function f(x, y) , we can define a function g such that g(x)(y) is equivalent to f(x, y) . Here, g is a higher-order function that takes in a single argument x and returns another function that takes in a single argument y . This transformation is called currying. As an example, we can define a curried version of the pow function: >>> def curried_pow(x): def h(y): return pow(x, y) return h >>&g

#### Annotation 1438473653516

 #python #sicp we can compute a*b + c*d without having to name the subexpressions a*b or c*d , or the full expression. In Python, we can create function values on the fly using lambda expressions, which evaluate to unnamed functions. A lambda expression evaluates to a function that has a single return expression as its body. Assignment and control statements are not allowed.

1.6 Higher-Order Functions
1.6.7 Lambda Expressions Video: Show Hide So far, each time we have wanted to define a new function, we needed to give it a name. But for other types of expressions, we don't need to associate intermediate values with a name. That is, <span>we can compute a*b + c*d without having to name the subexpressions a*b or c*d , or the full expression. In Python, we can create function values on the fly using lambda expressions, which evaluate to unnamed functions. A lambda expression evaluates to a function that has a single return expression as its body. Assignment and control statements are not allowed. >>> def compose1(f, g): return lambda x: f(g(x)) We can understand the structure of a lambda expression by constructing a corresponding English sentence:

#### Annotation 1438474702092

 #python #sicp  >>> def compose1 ( f , g ): return lambda x : f ( g ( x ))  We can understand the structure of a lambda expression by constructing a corresponding English sentence:  lambda x : f(g(x)) "A function that takes x and returns f(g(x))"  The result of a lambda expression is called a lambda function. It has no intrinsic name (and so Python prints for the name), but otherwise it behaves like any other function.

#### Annotation 1438475750668

 #python #sicp compound lambda expressions are notoriously illegible, despite their brevity.

1.6 Higher-Order Functions
compose1(f, g) [parent=Global] func λ(x) [parent=Global] func λ(y) [parent=Global] func λ(x) [parent=f1] Some programmers find that using unnamed functions from lambda expressions to be shorter and more direct. However, <span>compound lambda expressions are notoriously illegible, despite their brevity. The following definition is correct, but many programmers have trouble understanding it quickly. >>> compose1 = lambda f,g: lambda x: f(g(x)) In general, Python style pr

#### Annotation 1438476799244

 #python #sicp In general, Python style prefers explicit def statements to lambda expressions, but allows them in cases where a simple function is needed as an argument or return value.

1.6 Higher-Order Functions
ver, compound lambda expressions are notoriously illegible, despite their brevity. The following definition is correct, but many programmers have trouble understanding it quickly. >>> compose1 = lambda f,g: lambda x: f(g(x)) <span>In general, Python style prefers explicit def statements to lambda expressions, but allows them in cases where a simple function is needed as an argument or return value. Such stylistic rules are merely guidelines; you can program any way you wish. However, as you write programs, think about the audience of people who might read your program one day.

#### Annotation 1438477847820

 #python #sicp Elements with the fewest restrictions are said to have first-class status. Some of the "rights and privileges" of first-class elements are: They may be bound to names.They may be passed as arguments to functions.They may be returned as the results of functions.They may be included in data structures. Python awards functions full first-class status, and the resulting gain in expressive power is enormous.

1.6 Higher-Order Functions
ns explicitly as elements in our programming language, so that they can be handled just like other computational elements. In general, programming languages impose restrictions on the ways in which computational elements can be manipulated. <span>Elements with the fewest restrictions are said to have first-class status. Some of the "rights and privileges" of first-class elements are: They may be bound to names. They may be passed as arguments to functions. They may be returned as the results of functions. They may be included in data structures. Python awards functions full first-class status, and the resulting gain in expressive power is enormous. 1.6.9 Function Decorators Video: Show Hide Python provides special syntax to apply higher-order functions as part of executing a def statement, called a decorator. Perhaps

#### Annotation 1438530014476

 #python #sicp A function is called recursive if the body of the function calls the function itself, either directly or indirectly

1.7 Recursive Functions
1.7.1 The Anatomy of Recursive Functions 1.7.2 Mutual Recursion 1.7.3 Printing in Recursive Functions 1.7.4 Tree Recursion 1.7.5 Example: Partitions 1.7 Recursive Functions Video: Show Hide <span>A function is called recursive if the body of the function calls the function itself, either directly or indirectly. That is, the process of executing the body of a recursive function may in turn require applying that function again. Recursive functions do not use any special syntax in Python, but t

#### Annotation 1438532111628

 #python #sicp it is often clearer to think about recursive calls as functional abstractions.

1.7 Recursive Functions
the standard definition of the mathematical function for factorial: (n−1)!n!n!=(n−1)⋅(n−2)⋅⋯⋅1=n⋅(n−1)⋅(n−2)⋅⋯⋅1=n⋅(n−1)!(n−1)!=(n−1)⋅(n−2)⋅⋯⋅1n!=n⋅(n−1)⋅(n−2)⋅⋯⋅1n!=n⋅(n−1)! While we can unwind the recursion using our model of computation, <span>it is often clearer to think about recursive calls as functional abstractions. That is, we should not care about how fact(n-1) is implemented in the body of fact ; we should simply trust that it computes the factorial of n-1 . Treating a recursive call as a

#### Annotation 1438533160204

 #python #sicp Treating a recursive call as a functional abstraction has been called a recursive leap of faith. We define a function in terms of itself, but simply trust that the simpler cases will work correctly when verifying the correctness of the function.

1.7 Recursive Functions
putation, it is often clearer to think about recursive calls as functional abstractions. That is, we should not care about how fact(n-1) is implemented in the body of fact ; we should simply trust that it computes the factorial of n-1 . <span>Treating a recursive call as a functional abstraction has been called a recursive leap of faith. We define a function in terms of itself, but simply trust that the simpler cases will work correctly when verifying the correctness of the function. In this example, we trust that fact(n-1) will correctly compute (n-1)! ; we must only check that n! is computed correctly if this assumption holds. In this way, verifying the corre

#### Annotation 1438534208780

 #python #sicp Recursive functions leverage the rules of evaluating call expressions to bind names to values, often avoiding the nuisance of correctly assigning local names during iteration. For this reason, recursive functions can be easier to define correctly. However, learning to recognize the computational processes evolved by recursive functions certainly requires practice.

1.7 Recursive Functions
. The state of the computation is entirely contained within the structure of the environment, which has return values that take the role of total , and binds n to different values in different frames rather than explicitly tracking k . <span>Recursive functions leverage the rules of evaluating call expressions to bind names to values, often avoiding the nuisance of correctly assigning local names during iteration. For this reason, recursive functions can be easier to define correctly. However, learning to recognize the computational processes evolved by recursive functions certainly requires practice. 1.7.2 Mutual Recursion Video: Show Hide When a recursive procedure is divided among two functions that call each other, the functions are said to be mutually recursive. As an

#### Annotation 1438535257356

 #python #sicp When a recursive procedure is divided among two functions that call each other, the functions are said to be mutually recursive.

1.7 Recursive Functions
For this reason, recursive functions can be easier to define correctly. However, learning to recognize the computational processes evolved by recursive functions certainly requires practice. 1.7.2 Mutual Recursion Video: Show Hide <span>When a recursive procedure is divided among two functions that call each other, the functions are said to be mutually recursive. As an example, consider the following definition of even and odd for non-negative integers: a number is even if it is one more than an odd number a number is odd if it is one more tha

#### Annotation 1438537092364

 #python #sicp A function with multiple recursive calls is said to be tree recursive because each call branches into multiple smaller calls, each of which branches into yet smaller calls, just as the branches of a tree become smaller but more numerous as they extend from the trunk.

1.7 Recursive Functions
Global This recursive definition is tremendously appealing relative to our previous attempts: it exactly mirrors the familiar definition of Fibonacci numbers. <span>A function with multiple recursive calls is said to be tree recursive because each call branches into multiple smaller calls, each of which branches into yet smaller calls, just as the branches of a tree become smaller but more numerous as they extend from the trunk. We were already able to define a function to compute Fibonacci numbers without tree recursion. In fact, our previous attempts were more efficient, a topic discussed later in the text.

#### Annotation 1438538140940

 #python #sicp We can think of a tree-recursive function as exploring different possibilities.

1.7 Recursive Functions
-m, m) + count_partitions(n, m-1) >>> count_partitions(6, 4) 9 >>> count_partitions(5, 5) 7 >>> count_partitions(10, 10) 42 >>> count_partitions(15, 15) 176 >>> count_partitions(20, 20) 627 <span>We can think of a tree-recursive function as exploring different possibilities. In this case, we explore the possibility that we use a part of size m and the possibility that we do not. The first and second recursive calls correspond to these possibilities. Im

#### Annotation 1439144217868

 #deeplearning #protein #proteomics #research Sander14 developed a DSSP algorithm to classify SS into 8 fine-grained states. In particular, DSSP assigns 3 types for helix (G for 310 helix, H for alpha-helix, and I for pi-helix), 2 types for strand (E for beta-strand and B for beta-bridge), and 3 types for coil (T for beta-turn, S for high curvature loop, and L for irregular).

Protein Secondary Structure Prediction Using Deep Convolutional Neural Fields : Scientific Reports
S) refers to the local conformation of the polypeptide backbone of proteins. There are two regular SS states: alpha-helix (H) and beta-strand (E), as suggested by Pauling 13 more than 60 years ago, and one irregular SS type: coil region (C). <span>Sander 14 developed a DSSP algorithm to classify SS into 8 fine-grained states. In particular, DSSP assigns 3 types for helix (G for 3 10 helix, H for alpha-helix, and I for pi-helix), 2 types for strand (E for beta-strand and B for beta-bridge), and 3 types for coil (T for beta-turn, S for high curvature loop, and L for irregular). Overall, protein secondary structure can be regarded as a bridge that links the primary sequence and tertiary structure and thus, is used by many structure and functional analysis tools

#### Flashcard 1439739022604

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Question
Section 2 addresses questions such as: How does a chosen [...] and [...] evolve into specific decisions that affect the profitability of the firm?
pricing and output strategy

The answers to these questions are related to the forces of the market structure within which the firm operates.

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determines the degree of competition associated with each market structure? Given the degree of competition associated with each market structure, what decisions are left to the management team developing corporate strategy? How does a chosen <span>pricing and output strategy evolve into specific decisions that affect the profitability of the firm? The answers to these questions are related to the forces of the market structure within which the firm operates

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1. INTRODUCTION
ts are possible even in the long run; in the short run, any outcome is possible. Therefore, understanding the forces behind the market structure will aid the financial analyst in determining firms’ short- and long-term prospects. <span>Section 2 introduces the analysis of market structures. The section addresses questions such as: What determines the degree of competition associated with each market structure? Given the degree of competition associated with each market structure, what decisions are left to the management team developing corporate strategy? How does a chosen pricing and output strategy evolve into specific decisions that affect the profitability of the firm? The answers to these questions are related to the forces of the market structure within which the firm operates. Sections 3, 4, 5, and 6 analyze demand, supply, optimal price and output, and factors affecting long-run equilibrium for perfect competition, monopolistic competition, olig

#### Flashcard 1442919615756

Tags
#estructura-interna-de-las-palabras #formantes-morfológicos #gramatica-española #la #morfología #tulio
Question

Del inventario de formantes reconocidos, reconoceremos dos clases:

a. Los formantes léxicos pertenecen a una [...] de palabras:

clase particular

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y>Del inventario de formantes reconocidos, reconoceremos dos clases: a. Los formantes léxicos: tienen un significado léxico, que se define en el diccionario: gota, cuenta. Se agrupan en clases abiertas. Pertenecen a una clase particular de palabras: sustantivos (gota), adjetivos (útil), adverbios (ayer), verbos (cuenta). Pueden ser: - palabras simples (gota, útil, ayer); - base a la que se adosan los afijos en palabras

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La estructura interna de la palabra

#### Annotation 1443072183564

 #cfa-level-1 #fra-introduction #reading-22-financial-statement-analysis-intro #study-session-7 Reading 22 is organized as follows: Section 2 discusses the scope of financial statement analysis. Section 3 describes the sources of information used in financial statement analysis, including the primary financial statements. Section 4 provides a framework for guiding the financial statement analysis process.

1. INTRODUCTION
dited) commentary by management. Basic financial statement analysis—as presented in this reading—provides a foundation that enables the analyst to better understand information gathered from research beyond the financial reports. <span>This reading is organized as follows: Section 2 discusses the scope of financial statement analysis. Section 3 describes the sources of information used in financial statement analysis, including the primary financial statements (balance sheet, statement of comprehensive income, statement of changes in equity, and cash flow statement). Section 4 provides a framework for guiding the financial statement analysis process. A summary of the key points and practice problems in the CFA Institute multiple-choice format conclude the reading. <span><body><html>

#### Flashcard 1444415933708

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#pao
Question
02
El Canelo

Boxing gloves

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#### Flashcard 1444608609548

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Mit
[default - edit me]

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Lesson 20. Dative und Accusative Prepositions | Yes German
e used with Dative Case only, no matter what. They are given in an order that is best to memorize. Mit, nach, aus, zu, von, bei, seit, außer, entgegen, gegenüber In the table you will find English equivalents for these prepositions: <span>Mit With, by Nach After, to Aus From, out of Zu To, at Von From, by Bei At, near Seit Since, for Außer Except for, besides Entgegen Towards, toward Gegenüber Opposite, across from Example

#### Flashcard 1444610182412

Question
[default - edit me]
With, by

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Lesson 20. Dative und Accusative Prepositions | Yes German
ed with Dative Case only, no matter what. They are given in an order that is best to memorize. Mit, nach, aus, zu, von, bei, seit, außer, entgegen, gegenüber In the table you will find English equivalents for these prepositions: Mit <span>With, by Nach After, to Aus From, out of Zu To, at Von From, by Bei At, near Seit Since, for Außer Except for, besides Entgegen Towards, toward Gegenüber Opposite, across from Examples of Use:

#### Flashcard 1444629056780

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What is an international application
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PCT Guide
nternational Phase of the PCT Applicant's Guide ← Table of Contents → CHAPTER 5: FILING AN INTERNATIONAL APPLICATION GENERAL Article 2(vii) 3(1) 5.001. <span>What is an international application? An application is “international” when it is filed under and with reference to the PCT. It is the first step towards obtaining a patent in or for a State party to the PCT: “in” su

#### Flashcard 1444630629644

Question
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An application is “international” when it is filed under and with reference to the PCT. It is the first step towards obtaining a patent in or for a State party to the PCT: “in” such a State when a national patent is desired; for such a State when a regional patent (ARIPO, Eurasian, European or OAPI patent) is desired.

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PCT Guide
s Guide ← Table of Contents → CHAPTER 5: FILING AN INTERNATIONAL APPLICATION GENERAL Article 2(vii) 3(1) 5.001. What is an international application? <span>An application is “international” when it is filed under and with reference to the PCT. It is the first step towards obtaining a patent in or for a State party to the PCT: “in” such a State when a national patent is desired; for such a State when a regional patent (ARIPO, Eurasian, European or OAPI patent) is desired. Article 2(i) and (ii) 3(1) 5.002. What may be the subject of an international application? An international application must be an application for the protection of

#### Flashcard 1446673517836

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#av #elektryka #g1
Question
Jednostką podstawową natężenia prądu jest 1 [...]
amper (A)

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Jednostką podstawową natężenia prądu jest 1 amper (A)

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#### Flashcard 1446675090700

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#av #elektryka #g1
Question
Jednostką podstawową [...] prądu jest 1 amper (A)
natężenia

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Jednostką podstawową natężenia prądu jest 1 amper (A)

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#### Annotation 1446676663564

 #_av #b21 #elektryka #g1 #m_michalski #seo Prąd elektryczny w przewodnikach płynie od potencjału wyższego do potencjału niższego. By było to możliwe, w obwodzie zamkniętym musi znajdować się element, który zapewni dostarczenie nośników ładunku z punktów o niższym potencjale do punktów o wyższym potencjale, czyli w kierunku przeciwnym do działającego na nie pola elektrycznego. Wymaga to dostarczenia energii i dzieje się w elementach nazywanych źródłami prądu. Rolę chwilowego źródła energii w obwodzie może pełnić również element inercyjny (mający zdolność gromadzenia energii) – uprzednio naładowany kondensator, albo cewka indukcyjna z energią zgromadzoną w jej polu magnetycznym.

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#### Annotation 1446678236428

 #_av #b21 #elektryka #g1 #m_michalski #seo Źródło prądu – urządzenie, które dostarcza energię elektryczną do zasilania innych urządzeń elektrycznych. Źródło prądu może wytwarzać energię elektryczną kosztem innych form energii, np.: • chemicznej (ogniwo chemiczne) • cieplnej (zjawisko Seebecka) • mechanicznej (prądnica) • świetlnej (fotoogniwo) Źródłem prądu nazywa się również elektryczną sieć energetyczną, a także zasilacze pełniące często rolę przetworników prądu sieciowego. Rozróżnia się zasilacze prądu przemiennego (AC – alternating current) i prądu stałego (DC – direct current).

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#### Annotation 1446680071436

 #_av #b21 #elektryka #g1 #m_michalski #seo Prąd stały jest to prąd, którego wartość natężenia jest stała w funkcji czasu. W obwodzie elektrony poruszają się w sposób ciągły, w jednym kierunku

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#### Annotation 1446681644300

 #_av #b21 #elektryka #g1 #m_michalski #seo Prąd stały płynie zawsze w tym samym kierunku – nie zmienia się biegunowość prądu => stałe natężenie i napięcie prądu. Może być magazynowany, np. w akumulatorze (ogniwo galwaniczne), który po rozładowaniu można ponownie naładować.

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#### Annotation 1446683217164

 #_av #b21 #elektryka #g1 #m_michalski #seo Prąd zmienny jest to prąd, którego wartość natężenia jest zmienna w funkcji czasu.

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#### Annotation 1446684790028

 #_av #b21 #elektryka #g1 #m_michalski #seo Prąd okresowo zmienny: jest to prąd zmienny, którego zmiany powtarzają się w czasie.

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#### Annotation 1446686362892

 #_av #b21 #elektryka #g1 #m_michalski #seo Prąd przemienny to charakterystyczny przypadek prądu elektrycznego okresowo zmiennego, w którym wartości chwilowe podlegają zmianom w powtarzalny, okresowy sposób, z określoną częstotliwością. Wartości chwilowe natężenia prądu przemiennego przyjmują naprzemiennie wartości dodatnie i ujemne. Stosunkowo największe znaczenie praktyczne mają prąd i napięcie o przebiegu sinusoidalnym.

#### pdf

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#### Annotation 1446687935756

 #_av #b21 #elektryka #g1 #m_michalski #seo Prąd okresowo przemienny: jest to prąd przemienny, którego zmiany powtarzają się w czasie.

#### pdf

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#### Annotation 1446689508620

 #_av #b21 #elektryka #g1 #m_michalski #seo Prąd sinusoidalny: jest to prąd przemienny, którego wartość i kierunek natężenia, zmieniają się jak funkcja sinus (cosinus).

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#### Flashcard 1446738791692

Tags
#cfa-level-1 #economics #has-images #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4

Question
In which market structure does this happen?
Perfect competition

status measured difficulty not learned 37% [default] 0

#### Annotation 1446740626700

 #cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4 The quantity or quantity demanded variable is the amount of the product that consumers are willing and able to buy at each price level. The quantity sold can be affected by the business through such activities as sales promotion, advertising, and competitive positioning of the product that would take place under the market model of imperfect competition. Under perfect competition, however, total quantity in the market is influenced strictly by price, while non-price factors are not important. Once consumer preferences are established in the market, price determines the quantity demanded by buyers. Together, price and quantity constitute the firm’s demand curve, which becomes the basis for calculating the total, average, and marginal revenue.

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
(AR) Marginal Revenue (MR) 0 100 0 — — 1 100 100 100 100 2 100 200 100 100 3 100 300 100 100 4 100 400 100 100 5 100 500 100 100 6 100 600 100 100 7 100 700 100 100 8 100 800 100 100 9 100 900 100 100 10 100 1,000 100 100 <span>The quantity or quantity demanded variable is the amount of the product that consumers are willing and able to buy at each price level. The quantity sold can be affected by the business through such activities as sales promotion, advertising, and competitive positioning of the product that would take place under the market model of imperfect competition. Under perfect competition, however, total quantity in the market is influenced strictly by price, while non-price factors are not important. Once consumer preferences are established in the market, price determines the quantity demanded by buyers. Together, price and quantity constitute the firm’s demand curve, which becomes the basis for calculating the total, average, and marginal revenue. In Exhibit 4, price is the market price as established by the interactions of the market demand and supply factors. Since the firm is a price taker, price is fixed at 100

#### Annotation 1446741675276

 #cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4 The quantity or quantity demanded variable is the amount of the product that consumers are willing and able to buy at each price level.

#### Parent (intermediate) annotation

Open it
The quantity or quantity demanded variable is the amount of the product that consumers are willing and able to buy at each price level. The quantity sold can be affected by the business through such activities as sales promotion, advertising, and competitive positioning of the product that would take place under the mar

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
(AR) Marginal Revenue (MR) 0 100 0 — — 1 100 100 100 100 2 100 200 100 100 3 100 300 100 100 4 100 400 100 100 5 100 500 100 100 6 100 600 100 100 7 100 700 100 100 8 100 800 100 100 9 100 900 100 100 10 100 1,000 100 100 <span>The quantity or quantity demanded variable is the amount of the product that consumers are willing and able to buy at each price level. The quantity sold can be affected by the business through such activities as sales promotion, advertising, and competitive positioning of the product that would take place under the market model of imperfect competition. Under perfect competition, however, total quantity in the market is influenced strictly by price, while non-price factors are not important. Once consumer preferences are established in the market, price determines the quantity demanded by buyers. Together, price and quantity constitute the firm’s demand curve, which becomes the basis for calculating the total, average, and marginal revenue. In Exhibit 4, price is the market price as established by the interactions of the market demand and supply factors. Since the firm is a price taker, price is fixed at 100

#### Flashcard 1446743248140

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question

The quantity sold can be affected by the business through such activities as sales promotion, advertising, and competitive positioning of the product that would take place under the market model of [...].

imperfect competition

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
willing and able to buy at each price level. The quantity sold can be affected by the business through such activities as sales promotion, advertising, and competitive positioning of the product that would take place under the market model of <span>imperfect competition. Under perfect competition, however, total quantity in the market is influenced strictly by price, while non-price factors are not important. Once consumer preferences are established i

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
(AR) Marginal Revenue (MR) 0 100 0 — — 1 100 100 100 100 2 100 200 100 100 3 100 300 100 100 4 100 400 100 100 5 100 500 100 100 6 100 600 100 100 7 100 700 100 100 8 100 800 100 100 9 100 900 100 100 10 100 1,000 100 100 <span>The quantity or quantity demanded variable is the amount of the product that consumers are willing and able to buy at each price level. The quantity sold can be affected by the business through such activities as sales promotion, advertising, and competitive positioning of the product that would take place under the market model of imperfect competition. Under perfect competition, however, total quantity in the market is influenced strictly by price, while non-price factors are not important. Once consumer preferences are established in the market, price determines the quantity demanded by buyers. Together, price and quantity constitute the firm’s demand curve, which becomes the basis for calculating the total, average, and marginal revenue. In Exhibit 4, price is the market price as established by the interactions of the market demand and supply factors. Since the firm is a price taker, price is fixed at 100

#### Flashcard 1446745607436

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question

Under perfect competition total quantity in the market is influenced strictly by [...]

price

Once consumer preferences are established in the market, price determines the quantity demanded by buyers.

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
ties as sales promotion, advertising, and competitive positioning of the product that would take place under the market model of imperfect competition. Under perfect competition, however, total quantity in the market is influenced strictly by <span>price, while non-price factors are not important. Once consumer preferences are established in the market, price determines the quantity demanded by buyers. Together, price and quantity const

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
(AR) Marginal Revenue (MR) 0 100 0 — — 1 100 100 100 100 2 100 200 100 100 3 100 300 100 100 4 100 400 100 100 5 100 500 100 100 6 100 600 100 100 7 100 700 100 100 8 100 800 100 100 9 100 900 100 100 10 100 1,000 100 100 <span>The quantity or quantity demanded variable is the amount of the product that consumers are willing and able to buy at each price level. The quantity sold can be affected by the business through such activities as sales promotion, advertising, and competitive positioning of the product that would take place under the market model of imperfect competition. Under perfect competition, however, total quantity in the market is influenced strictly by price, while non-price factors are not important. Once consumer preferences are established in the market, price determines the quantity demanded by buyers. Together, price and quantity constitute the firm’s demand curve, which becomes the basis for calculating the total, average, and marginal revenue. In Exhibit 4, price is the market price as established by the interactions of the market demand and supply factors. Since the firm is a price taker, price is fixed at 100

#### Flashcard 1446747966732

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question

Together, price and quantity constitute the firm’s [...], which becomes the basis for calculating the total, average, and marginal revenue.

demand curve

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
e market is influenced strictly by price, while non-price factors are not important. Once consumer preferences are established in the market, price determines the quantity demanded by buyers. Together, price and quantity constitute the firm’s <span>demand curve, which becomes the basis for calculating the total, average, and marginal revenue. <span><body><html>

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
(AR) Marginal Revenue (MR) 0 100 0 — — 1 100 100 100 100 2 100 200 100 100 3 100 300 100 100 4 100 400 100 100 5 100 500 100 100 6 100 600 100 100 7 100 700 100 100 8 100 800 100 100 9 100 900 100 100 10 100 1,000 100 100 <span>The quantity or quantity demanded variable is the amount of the product that consumers are willing and able to buy at each price level. The quantity sold can be affected by the business through such activities as sales promotion, advertising, and competitive positioning of the product that would take place under the market model of imperfect competition. Under perfect competition, however, total quantity in the market is influenced strictly by price, while non-price factors are not important. Once consumer preferences are established in the market, price determines the quantity demanded by buyers. Together, price and quantity constitute the firm’s demand curve, which becomes the basis for calculating the total, average, and marginal revenue. In Exhibit 4, price is the market price as established by the interactions of the market demand and supply factors. Since the firm is a price taker, price is fixed at 100

#### Flashcard 1446750326028

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
For any firm that sells at a uniform price, [...] will equal price.
average revenue

status measured difficulty not learned 37% [default] 0
3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
, which is equal to the price. Average revenue (AR) is quantity sold divided into total revenue. The mathematical outcome of this calculation is simply the price that the firm receives in the market for selling a given quantity. <span>For any firm that sells at a uniform price, average revenue will equal price. For example, AR at 3 units is 100 (calculated as 300 ÷ 3 units); at 8 units it is also 100 (calculated as 800 ÷ 8 units). Marginal revenue (MR) is the change in total reve

#### Flashcard 1446752685324

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
In a competitive market in which price is constant to the individual firm regardless of the amount of output offered, [...] is equal to average revenue, where both are the same as the [...]
marginal revenue

market price
.

status measured difficulty not learned 37% [default] 0
3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
e change in quantity sold; it is simply the additional revenue from selling one more unit. For example, in Exhibit 4, MR at 4 units is 100 [calculated as (400 – 300) ÷ (4 – 3)]; at 9 units it is also 100 [calculated as (900 – 800) ÷ (9 – 8)]. <span>In a competitive market in which price is constant to the individual firm regardless of the amount of output offered, marginal revenue is equal to average revenue, where both are the same as the market price. Reviewing the revenue data in Exhibit 4, price, average revenue, and marginal revenue are all equal to 100. In the case of imperfect competition, MR declines with greater output and is

#### Annotation 1446759501068

 TR, AR,MR under imperfect competition #cfa-level-1 #economics #has-images #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4 Total revenue increases with a greater quantity, but the rate of increase in TR (as measured by marginal revenue) declines as quantity increases. Average revenue and marginal revenue decrease when output increases, with MR falling faster than price and AR. Average revenue is equal to price at each quantity level.

#### Annotation 1446764219660

 #cfa-level-1 #economics #has-images #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4 Total revenue increases with a greater quantity, but the rate of increase in TR (as measured by marginal revenue) declines as quantity increases. Average revenue and marginal revenue decrease when output increases, with MR falling faster than price and AR. Average revenue is equal to price at each quantity level. This shows the relationships among the revenue variables.

#### Annotation 1446766316812

#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4

### 3.1.2. Factors of Production

Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. Factors of production, the inputs to the production of goods and services, include:

• land, as in the site location of the business;

• labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers;

• capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and

• materials, which in this context refers to any goods the business buys as inputs to its production process.1

For example, a business that produces solid wood office desks needs to acquire lumber and hardware accessories as raw materials and hire workers to construct and assemble the desks using power tools and equipment. The factors of production are the inputs to the firm’s process of producing and selling a product or service where the goal of the firm is to maximize profit by satisfying the demand of consumers. The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation.

Clearly, in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as:

Equation (5)

Q = f (K, L)

where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as:

Equation (6)

Q = f (x1, x2, … xn)

where xi represents the quantity of the ith input subject to xi ≥ 0 for n number of different inputs. Exhibit 9illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L0L1), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L1L2), TP is in

...

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
ationships among the revenue variables presented in Exhibit 7. Exhibit 8. Total Revenue, Average Revenue, and Marginal Revenue for Exhibit 7 Data <span>3.1.2. Factors of Production Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.1 For example, a business that produces solid wood office desks needs to acquire lumber and hardware accessories as raw materials and hire workers to construct and assemble the desks using power tools and equipment. The factors of production are the inputs to the firm’s process of producing and selling a product or service where the goal of the firm is to maximize profit by satisfying the demand of consumers. The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subject to x i ≥ 0 for n number of different inputs. Exhibit 9illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L 0 – L 1 ), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. Point A is where TP is maximized. Exhibit 9. A Firm’s Production Function EXAMPLE 3 Factors of Production A group of business investor

#### Annotation 1446769462540

 #cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4 Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases the factors of production, in order to produce a product that will be offered for sale to consumers.

#### Parent (intermediate) annotation

Open it
3.1.2. Factors of Production Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consist

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
ationships among the revenue variables presented in Exhibit 7. Exhibit 8. Total Revenue, Average Revenue, and Marginal Revenue for Exhibit 7 Data <span>3.1.2. Factors of Production Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.1 For example, a business that produces solid wood office desks needs to acquire lumber and hardware accessories as raw materials and hire workers to construct and assemble the desks using power tools and equipment. The factors of production are the inputs to the firm’s process of producing and selling a product or service where the goal of the firm is to maximize profit by satisfying the demand of consumers. The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subject to x i ≥ 0 for n number of different inputs. Exhibit 9illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L 0 – L 1 ), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. Point A is where TP is maximized. Exhibit 9. A Firm’s Production Function EXAMPLE 3 Factors of Production A group of business investor

#### Annotation 1446772346124

 #cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4 Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.

#### Parent (intermediate) annotation

Open it
. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. <span>Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.1 For example, a business that produces solid wood office desks needs to acquire lumber and hardware accessories as raw materials and hire workers to construct and as

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
ationships among the revenue variables presented in Exhibit 7. Exhibit 8. Total Revenue, Average Revenue, and Marginal Revenue for Exhibit 7 Data <span>3.1.2. Factors of Production Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.1 For example, a business that produces solid wood office desks needs to acquire lumber and hardware accessories as raw materials and hire workers to construct and assemble the desks using power tools and equipment. The factors of production are the inputs to the firm’s process of producing and selling a product or service where the goal of the firm is to maximize profit by satisfying the demand of consumers. The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subject to x i ≥ 0 for n number of different inputs. Exhibit 9illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L 0 – L 1 ), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. Point A is where TP is maximized. Exhibit 9. A Firm’s Production Function EXAMPLE 3 Factors of Production A group of business investor

#### Annotation 1446773918988

 #cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4 The types and quantities of resources used in production, their prices, and how efficiently they are employed in the production process determine the cost component of the profit equation.

#### Parent (intermediate) annotation

Open it
le the desks using power tools and equipment. The factors of production are the inputs to the firm’s process of producing and selling a product or service where the goal of the firm is to maximize profit by satisfying the demand of consumers. <span>The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
ationships among the revenue variables presented in Exhibit 7. Exhibit 8. Total Revenue, Average Revenue, and Marginal Revenue for Exhibit 7 Data <span>3.1.2. Factors of Production Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.1 For example, a business that produces solid wood office desks needs to acquire lumber and hardware accessories as raw materials and hire workers to construct and assemble the desks using power tools and equipment. The factors of production are the inputs to the firm’s process of producing and selling a product or service where the goal of the firm is to maximize profit by satisfying the demand of consumers. The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subject to x i ≥ 0 for n number of different inputs. Exhibit 9illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L 0 – L 1 ), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. Point A is where TP is maximized. Exhibit 9. A Firm’s Production Function EXAMPLE 3 Factors of Production A group of business investor

#### Flashcard 1446776278284

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
The types and quantities of resources used in production, their prices, and how efficiently they are employed in the production process determine the [...] of the [...].
cost component of the profit equation

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
The types and quantities of resources used in production, their prices, and how efficiently they are employed in the production process determine the cost component of the profit equation.

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
ationships among the revenue variables presented in Exhibit 7. Exhibit 8. Total Revenue, Average Revenue, and Marginal Revenue for Exhibit 7 Data <span>3.1.2. Factors of Production Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.1 For example, a business that produces solid wood office desks needs to acquire lumber and hardware accessories as raw materials and hire workers to construct and assemble the desks using power tools and equipment. The factors of production are the inputs to the firm’s process of producing and selling a product or service where the goal of the firm is to maximize profit by satisfying the demand of consumers. The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subject to x i ≥ 0 for n number of different inputs. Exhibit 9illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L 0 – L 1 ), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. Point A is where TP is maximized. Exhibit 9. A Firm’s Production Function EXAMPLE 3 Factors of Production A group of business investor

#### Annotation 1446777851148

 #cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4 in order to produce output, the firm needs to employ factors of production.

#### Parent (intermediate) annotation

Open it
onsumers. The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, <span>in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
ationships among the revenue variables presented in Exhibit 7. Exhibit 8. Total Revenue, Average Revenue, and Marginal Revenue for Exhibit 7 Data <span>3.1.2. Factors of Production Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.1 For example, a business that produces solid wood office desks needs to acquire lumber and hardware accessories as raw materials and hire workers to construct and assemble the desks using power tools and equipment. The factors of production are the inputs to the firm’s process of producing and selling a product or service where the goal of the firm is to maximize profit by satisfying the demand of consumers. The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subject to x i ≥ 0 for n number of different inputs. Exhibit 9illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L 0 – L 1 ), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. Point A is where TP is maximized. Exhibit 9. A Firm’s Production Function EXAMPLE 3 Factors of Production A group of business investor

#### Annotation 1446779424012

 #cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4 While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed.

#### Parent (intermediate) annotation

Open it
n, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, in order to produce output, the firm needs to employ factors of production. <span>While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  &#

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
ationships among the revenue variables presented in Exhibit 7. Exhibit 8. Total Revenue, Average Revenue, and Marginal Revenue for Exhibit 7 Data <span>3.1.2. Factors of Production Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.1 For example, a business that produces solid wood office desks needs to acquire lumber and hardware accessories as raw materials and hire workers to construct and assemble the desks using power tools and equipment. The factors of production are the inputs to the firm’s process of producing and selling a product or service where the goal of the firm is to maximize profit by satisfying the demand of consumers. The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subject to x i ≥ 0 for n number of different inputs. Exhibit 9illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L 0 – L 1 ), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. Point A is where TP is maximized. Exhibit 9. A Firm’s Production Function EXAMPLE 3 Factors of Production A group of business investor

#### Flashcard 1446780472588

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, [...], are employed.
capital and labor

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed.

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
ationships among the revenue variables presented in Exhibit 7. Exhibit 8. Total Revenue, Average Revenue, and Marginal Revenue for Exhibit 7 Data <span>3.1.2. Factors of Production Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.1 For example, a business that produces solid wood office desks needs to acquire lumber and hardware accessories as raw materials and hire workers to construct and assemble the desks using power tools and equipment. The factors of production are the inputs to the firm’s process of producing and selling a product or service where the goal of the firm is to maximize profit by satisfying the demand of consumers. The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subject to x i ≥ 0 for n number of different inputs. Exhibit 9illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L 0 – L 1 ), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. Point A is where TP is maximized. Exhibit 9. A Firm’s Production Function EXAMPLE 3 Factors of Production A group of business investor

#### Annotation 1446782045452

 #cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4 The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor.

#### Parent (intermediate) annotation

Open it
ction. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. <span>The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n )

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
ationships among the revenue variables presented in Exhibit 7. Exhibit 8. Total Revenue, Average Revenue, and Marginal Revenue for Exhibit 7 Data <span>3.1.2. Factors of Production Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.1 For example, a business that produces solid wood office desks needs to acquire lumber and hardware accessories as raw materials and hire workers to construct and assemble the desks using power tools and equipment. The factors of production are the inputs to the firm’s process of producing and selling a product or service where the goal of the firm is to maximize profit by satisfying the demand of consumers. The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subject to x i ≥ 0 for n number of different inputs. Exhibit 9illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L 0 – L 1 ), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. Point A is where TP is maximized. Exhibit 9. A Firm’s Production Function EXAMPLE 3 Factors of Production A group of business investor

#### Flashcard 1446783094028

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question

The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as:

[...]

Q = f (K, L)

where Q is the quantity of output, K is capital, and L is labor.

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#### Parent (intermediate) annotation

Open it
The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor.

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
ationships among the revenue variables presented in Exhibit 7. Exhibit 8. Total Revenue, Average Revenue, and Marginal Revenue for Exhibit 7 Data <span>3.1.2. Factors of Production Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.1 For example, a business that produces solid wood office desks needs to acquire lumber and hardware accessories as raw materials and hire workers to construct and assemble the desks using power tools and equipment. The factors of production are the inputs to the firm’s process of producing and selling a product or service where the goal of the firm is to maximize profit by satisfying the demand of consumers. The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subject to x i ≥ 0 for n number of different inputs. Exhibit 9illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L 0 – L 1 ), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. Point A is where TP is maximized. Exhibit 9. A Firm’s Production Function EXAMPLE 3 Factors of Production A group of business investor

#### Annotation 1446785453324

 #cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4 The inputs in the production function are subject to the constraint that K ≥ 0 and L ≥ 0.

#### Parent (intermediate) annotation

Open it
utput and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. <span>The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subj

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
ationships among the revenue variables presented in Exhibit 7. Exhibit 8. Total Revenue, Average Revenue, and Marginal Revenue for Exhibit 7 Data <span>3.1.2. Factors of Production Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.1 For example, a business that produces solid wood office desks needs to acquire lumber and hardware accessories as raw materials and hire workers to construct and assemble the desks using power tools and equipment. The factors of production are the inputs to the firm’s process of producing and selling a product or service where the goal of the firm is to maximize profit by satisfying the demand of consumers. The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subject to x i ≥ 0 for n number of different inputs. Exhibit 9illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L 0 – L 1 ), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. Point A is where TP is maximized. Exhibit 9. A Firm’s Production Function EXAMPLE 3 Factors of Production A group of business investor

#### Flashcard 1446787288332

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
The inputs in the production function are subject to the constraint that [...] and [...]
K ≥ 0

L ≥ 0.

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#### Parent (intermediate) annotation

Open it
The inputs in the production function are subject to the constraint that K ≥ 0 and L ≥ 0.

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
ationships among the revenue variables presented in Exhibit 7. Exhibit 8. Total Revenue, Average Revenue, and Marginal Revenue for Exhibit 7 Data <span>3.1.2. Factors of Production Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.1 For example, a business that produces solid wood office desks needs to acquire lumber and hardware accessories as raw materials and hire workers to construct and assemble the desks using power tools and equipment. The factors of production are the inputs to the firm’s process of producing and selling a product or service where the goal of the firm is to maximize profit by satisfying the demand of consumers. The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subject to x i ≥ 0 for n number of different inputs. Exhibit 9illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L 0 – L 1 ), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. Point A is where TP is maximized. Exhibit 9. A Firm’s Production Function EXAMPLE 3 Factors of Production A group of business investor

#### Annotation 1446789909772

 #cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4 A more general production function is stated as: Equation (6)  Q = f (x1, x2, … xn) where xi represents the quantity of the ith input subject to xi ≥ 0 for n number of different inputs.

#### Parent (intermediate) annotation

Open it
n function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. <span>A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subject to x i ≥ 0 for n number of different inputs. Exhibit 9illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
ationships among the revenue variables presented in Exhibit 7. Exhibit 8. Total Revenue, Average Revenue, and Marginal Revenue for Exhibit 7 Data <span>3.1.2. Factors of Production Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.1 For example, a business that produces solid wood office desks needs to acquire lumber and hardware accessories as raw materials and hire workers to construct and assemble the desks using power tools and equipment. The factors of production are the inputs to the firm’s process of producing and selling a product or service where the goal of the firm is to maximize profit by satisfying the demand of consumers. The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subject to x i ≥ 0 for n number of different inputs. Exhibit 9illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L 0 – L 1 ), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. Point A is where TP is maximized. Exhibit 9. A Firm’s Production Function EXAMPLE 3 Factors of Production A group of business investor

#### Flashcard 1446790958348

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question

A more general production function is stated as:

Equation (6)

Q = f (x1, x2, … xn)

where xi represents [...] subject to xi ≥ 0 for n number of different inputs.

the quantity of the ith input

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subject to x i ≥ 0 for n number of different inputs.

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
ationships among the revenue variables presented in Exhibit 7. Exhibit 8. Total Revenue, Average Revenue, and Marginal Revenue for Exhibit 7 Data <span>3.1.2. Factors of Production Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.1 For example, a business that produces solid wood office desks needs to acquire lumber and hardware accessories as raw materials and hire workers to construct and assemble the desks using power tools and equipment. The factors of production are the inputs to the firm’s process of producing and selling a product or service where the goal of the firm is to maximize profit by satisfying the demand of consumers. The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subject to x i ≥ 0 for n number of different inputs. Exhibit 9illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L 0 – L 1 ), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. Point A is where TP is maximized. Exhibit 9. A Firm’s Production Function EXAMPLE 3 Factors of Production A group of business investor

Article 1446807997708

つき【月】tsuki
#has-images

つき【月】tsuki 地球の衛星で，地球に最も近い天体。地球からの平均距離は38万4400km，月の半径は地球のほぼ4分の1，太陽の400分の1の1738km（赤道半径）で，地球からは太陽も月もほぼ同じくらいの大きさに見え，視半径は平均15分33秒である。質量は地球の81．3分の1で，7．35×10 22 kg，平均密度は3．34g／cm 3 （地球の約0．6倍），表面重力は地球の約6分の1である。 〔月の表面〕 月を見ると，明るい地域と暗い地域に分かれている。明るい地域は，高地とよばれ，土地の起伏がはげしく，一面がほぼ円形のクレーターとよばれるくぼ地におおわれている。クレーターはいん石の衝突によってできたもので，最大のものは直径2500kmにおよぶエイトケン盆地。月面の高低差は，表側では3000mほどだが，裏側では約2万mもある。暗い地域は低く平たんで，クレーターが少なく，海とよばれている。高地は白っぽい斜長石，海は黒っぽい玄武岩でできている。年齢は高地のほうが古い。海は巨大ないん石の衝突によってできたクレーターに内部から玄武岩の溶岩がふきだしておおったものと考えられている。 月の表面の温度は昼間の約120℃から夜の-170℃まで変化し，大気はなく，生物も生存しない。 〔月の運動〕 地球のまわりを回る月の恒星を基準とした公転周期を恒星月といい，27．321662日である。これに対し，地球から見た月の満ち欠けの周期をさく望月といい，29．530589日である。恒星月がさく望月より短いのは，地球も太陽のまわりを公転しているからである。月は地球の公転と同じむきに公転しながら自転している。月の自転周期は公転周期に一致している。このため地球からは月の裏側が見えない。実際にはわずかながら上下左右に首をふるため，全表面の59％が地球から見られる。月の公転軌道は白道とよばれ，黄道面に対して5度8分かたむいている。 月食は満月のときにおこるが，満月のたびにおこらないのは月の公転軌道が5度8分かたむいているためである。 〔月の満ち欠け〕 月は約29．5日ごとに満ち欠けをする。これは，太陽の方向をむいてかがやいている半球を，月の公転にともなっていろいろな角度から見ているためである（双眼鏡で見ると全体が確認できる）。地球から見て，月が太陽と同じ方向にあるときを新月，月が太陽と反対側にきたとき

Article 1446814027020

えいせい【衛星】
#has-images

えいせい【衛星】 惑星 ＊ の周囲を回っている天体。衛星の公転方向は，大部分が中心惑星の自転と同じ方向（順行）であるが，逆行しているものもある。また衛星の質量は，中心惑星の質量にくらべてひじょうに小さいが，月（地球の81分の1）のようにひじょうに大きい質量をもつものもある。 衛星をもたない惑星は水星と金星である。

Article 1446819007756

わくせい【惑星】
#has-images

わくせい【惑星】 太陽 ＊ の周囲を一定の軌道にそって回っている天体のうち，比較的大きい8個の天体。軌道半径の小さいほうから水星・金星・地球・火星・木星・土星・天王星・海王星の順。水星・金星・火星・木星・土星は肉眼でもよく見えるので大昔から知られていたが，地球から見ると，天球上の恒星の間を順行したり，逆行したりしてたえず移動し，古代の人にはその説明が困難だったため，惑星とよばれた。 〔内惑星と外惑星〕 惑星のうち，地球軌道より内側にあるものを内惑星，外側にあるものを外惑星という。水星・金星などの内惑星は，太陽からあまり離れていないため，夕方や明け方にしか見えないが，火星・木星・土星などの外惑星は一晩中見え，真夜中に南中 ＊ することがある。内惑星の水星・金星は満月から新月まで，外惑星の火星は満月がごくわずか欠ける程度に満ち欠けする。そのほかの外惑星は満ち欠けしない。 〔地球型惑星と木星型惑星〕惑星は，その構造から地球型惑星と木星型惑星に分けられる。地球型惑星は，おもに岩石からできていて比重が大きいのに対して，木星型惑星は水素やヘリウムのガスからできていて比重が小さい。 〔太陽系内のいろいろな天体〕 太陽系には，惑星以外にさまざまな天体がある。火星と木星の間には小惑星が多く見られる。惑星のまわりには多くの衛星があり，惑星のまわりを公転する。また多くのすい星も，一定周期で太陽のまわりを公転している。

#### Flashcard 1446821891340

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question

Factors of production, the inputs to the production of goods and services, include:

• [...],

• labor,

• [...]

• materials,

land

capital,

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capi

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
ationships among the revenue variables presented in Exhibit 7. Exhibit 8. Total Revenue, Average Revenue, and Marginal Revenue for Exhibit 7 Data <span>3.1.2. Factors of Production Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.1 For example, a business that produces solid wood office desks needs to acquire lumber and hardware accessories as raw materials and hire workers to construct and assemble the desks using power tools and equipment. The factors of production are the inputs to the firm’s process of producing and selling a product or service where the goal of the firm is to maximize profit by satisfying the demand of consumers. The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subject to x i ≥ 0 for n number of different inputs. Exhibit 9illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L 0 – L 1 ), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. Point A is where TP is maximized. Exhibit 9. A Firm’s Production Function EXAMPLE 3 Factors of Production A group of business investor

#### Flashcard 1446824250636

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question

Factors of production include:

• land, as in [...]

the site location of the business;

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physi

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
ationships among the revenue variables presented in Exhibit 7. Exhibit 8. Total Revenue, Average Revenue, and Marginal Revenue for Exhibit 7 Data <span>3.1.2. Factors of Production Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.1 For example, a business that produces solid wood office desks needs to acquire lumber and hardware accessories as raw materials and hire workers to construct and assemble the desks using power tools and equipment. The factors of production are the inputs to the firm’s process of producing and selling a product or service where the goal of the firm is to maximize profit by satisfying the demand of consumers. The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subject to x i ≥ 0 for n number of different inputs. Exhibit 9illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L 0 – L 1 ), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. Point A is where TP is maximized. Exhibit 9. A Firm’s Production Function EXAMPLE 3 Factors of Production A group of business investor

#### Flashcard 1446827396364

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question

The inputs to the production of goods and services, include:

• labor, which consists of [...] as well as [...]

the inputs of skilled and unskilled workers

the inputs of firms’ managers;

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods a

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
ationships among the revenue variables presented in Exhibit 7. Exhibit 8. Total Revenue, Average Revenue, and Marginal Revenue for Exhibit 7 Data <span>3.1.2. Factors of Production Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.1 For example, a business that produces solid wood office desks needs to acquire lumber and hardware accessories as raw materials and hire workers to construct and assemble the desks using power tools and equipment. The factors of production are the inputs to the firm’s process of producing and selling a product or service where the goal of the firm is to maximize profit by satisfying the demand of consumers. The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subject to x i ≥ 0 for n number of different inputs. Exhibit 9illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L 0 – L 1 ), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. Point A is where TP is maximized. Exhibit 9. A Firm’s Production Function EXAMPLE 3 Factors of Production A group of business investor

#### Flashcard 1446830542092

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question

Factors of production include:

• capital, which in this context refers to [...]

physical capital

—such tangible goods as equipment, tools, and buildings.

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
; land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to <span>physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
ationships among the revenue variables presented in Exhibit 7. Exhibit 8. Total Revenue, Average Revenue, and Marginal Revenue for Exhibit 7 Data <span>3.1.2. Factors of Production Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.1 For example, a business that produces solid wood office desks needs to acquire lumber and hardware accessories as raw materials and hire workers to construct and assemble the desks using power tools and equipment. The factors of production are the inputs to the firm’s process of producing and selling a product or service where the goal of the firm is to maximize profit by satisfying the demand of consumers. The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subject to x i ≥ 0 for n number of different inputs. Exhibit 9illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L 0 – L 1 ), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. Point A is where TP is maximized. Exhibit 9. A Firm’s Production Function EXAMPLE 3 Factors of Production A group of business investor

#### Annotation 1446832901388

 #cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4 Capital goods are distinguished as inputs to production that are themselves produced goods; and

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3; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. <span>Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.<span><body><html>

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
ationships among the revenue variables presented in Exhibit 7. Exhibit 8. Total Revenue, Average Revenue, and Marginal Revenue for Exhibit 7 Data <span>3.1.2. Factors of Production Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.1 For example, a business that produces solid wood office desks needs to acquire lumber and hardware accessories as raw materials and hire workers to construct and assemble the desks using power tools and equipment. The factors of production are the inputs to the firm’s process of producing and selling a product or service where the goal of the firm is to maximize profit by satisfying the demand of consumers. The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subject to x i ≥ 0 for n number of different inputs. Exhibit 9illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L 0 – L 1 ), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. Point A is where TP is maximized. Exhibit 9. A Firm’s Production Function EXAMPLE 3 Factors of Production A group of business investor

#### Flashcard 1446833949964

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
[...] are distinguished as inputs to production that are themselves produced goods
Capital goods

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Capital goods are distinguished as inputs to production that are themselves produced goods; and

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
ationships among the revenue variables presented in Exhibit 7. Exhibit 8. Total Revenue, Average Revenue, and Marginal Revenue for Exhibit 7 Data <span>3.1.2. Factors of Production Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.1 For example, a business that produces solid wood office desks needs to acquire lumber and hardware accessories as raw materials and hire workers to construct and assemble the desks using power tools and equipment. The factors of production are the inputs to the firm’s process of producing and selling a product or service where the goal of the firm is to maximize profit by satisfying the demand of consumers. The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subject to x i ≥ 0 for n number of different inputs. Exhibit 9illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L 0 – L 1 ), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. Point A is where TP is maximized. Exhibit 9. A Firm’s Production Function EXAMPLE 3 Factors of Production A group of business investor

#### Flashcard 1446836309260

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question

Factors of production, the inputs to the production of goods and services, include:

• materials, which in this context refers to [...]

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ontext refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to <span>any goods the business buys as inputs to its production process.<span><body><html>

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
ationships among the revenue variables presented in Exhibit 7. Exhibit 8. Total Revenue, Average Revenue, and Marginal Revenue for Exhibit 7 Data <span>3.1.2. Factors of Production Revenue generation occurs when output is sold in the market. However, costs are incurred before revenue generation takes place as the firm purchases resources, or what are commonly known as the factors of production, in order to produce a product or service that will be offered for sale to consumers. Factors of production, the inputs to the production of goods and services, include: land, as in the site location of the business; labor, which consists of the inputs of skilled and unskilled workers as well as the inputs of firms’ managers; capital, which in this context refers to physical capital—such tangible goods as equipment, tools, and buildings. Capital goods are distinguished as inputs to production that are themselves produced goods; and materials, which in this context refers to any goods the business buys as inputs to its production process.1 For example, a business that produces solid wood office desks needs to acquire lumber and hardware accessories as raw materials and hire workers to construct and assemble the desks using power tools and equipment. The factors of production are the inputs to the firm’s process of producing and selling a product or service where the goal of the firm is to maximize profit by satisfying the demand of consumers. The types and quantities of resources or factors used in production, their respective prices, and how efficiently they are employed in the production process determine the cost component of the profit equation. Clearly, in order to produce output, the firm needs to employ factors of production. While firms may use many different types of labor, capital, raw materials, and land, an analyst may find it more convenient to limit attention to a more simplified process in which only the two factors, capital and labor, are employed. The relationship between the flow of output and the two factors of production is called the production function , and it is represented generally as: Equation (5)  Q = f (K, L) where Q is the quantity of output, K is capital, and L is labor. The inputs are subject to the constraint that K ≥ 0 and L ≥ 0. A more general production function is stated as: Equation (6)  Q = f (x 1 , x 2 , … x n ) where x i represents the quantity of the ith input subject to x i ≥ 0 for n number of different inputs. Exhibit 9illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L 0 – L 1 ), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. Point A is where TP is maximized. Exhibit 9. A Firm’s Production Function EXAMPLE 3 Factors of Production A group of business investor

#### Flashcard 1446838668556

Tags
#estructura-interna-de-las-palabras #formantes-morfológicos #gramatica-española #la #morfología #tulio
Question
Algunos afijos van pospuestos a la base: son los [...] .
s u f i j o s

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Algunos afijos van pospuestos a la base (gota), como los de nuestros ejemplos: son los s u f i j o s . Otros afijos la preceden: in-útil, des-contento, a-político: Son los prefijos. Las palabras que contienen un afijo se denominan palabras complejas.

#### Original toplevel document

La estructura interna de la palabra

#### Flashcard 1446841027852

Tags
#estructura-interna-de-las-palabras #formantes-morfológicos #gramatica-española #la #morfología #tulio
Question
Algunos afijos preceden a la base: Son los [...].
prefijos

in-útil, des-contento, a-político

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Algunos afijos van pospuestos a la base (gota), como los de nuestros ejemplos: son los s u f i j o s . Otros afijos la preceden: in-útil, des-contento, a-político: Son los prefijos. Las palabras que contienen un afijo se denominan palabras complejas.

#### Original toplevel document

La estructura interna de la palabra

#### Flashcard 1446843387148

Tags
#estructura-interna-de-las-palabras #formantes-morfológicos #gramatica-española #la #morfología #tulio
Question
Las palabras que contienen un afijo se denominan [...]
palabras complejas.

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pan>Algunos afijos van pospuestos a la base (gota), como los de nuestros ejemplos: son los s u f i j o s . Otros afijos la preceden: in-útil, des-contento, a-político: Son los prefijos. Las palabras que contienen un afijo se denominan palabras complejas.<span><body><html>

#### Original toplevel document

La estructura interna de la palabra

#### Flashcard 1446847057164

Tags
#3-1-profit-maximization #cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
There are three approaches to calculate the point of profit maximization.

First, given that [...], maximum profit occurs at the output level where this difference is the greatest.
profit is the difference between total revenue and total costs

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There are three approaches to calculate the point of profit maximization. First, given that profit is the difference between total revenue and total costs, maximum profit occurs at the output level where this difference is the greatest.

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) <span>3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a higher standard of living, and creates wealth for investors. Profit motivates businesses to use resources efficiently and to concentrate on activities in which they have a competitive advantage. Most economists believe that profit maximization promotes allocational efficiency—that resources flow into their highest valued uses. Overall, the functions of profit are as follows: Rewards entrepreneurs for risk taking when pursuing business ventures to satisfy consumer demand. Allocates resources to their most-efficient use; input factors flow from sectors with economic losses to sectors with economic profit, where profit reflects goods most desired by society. Spurs innovation and the development of new technology. Stimulates business investment and economic growth. There are three approaches to calculate the point of profit maximization. First, given that profit is the difference between total revenue and total costs, maximum profit occurs at the output level where this difference is the greatest. Second, maximum profit can also be calculated by comparing revenue and cost for each individual unit of output that is produced and sold. A business increases profit through greater sales as long as per-unit revenue exceeds per-unit cost on the next unit of output sold. Profit maximization takes place at the point where the last individual output unit breaks even. Beyond this point, total profit decreases because the per-unit cost is higher than the per-unit revenue from successive output units. A third approach compares the revenue generated by each resource unit with the cost of that unit. Profit contribution occurs when the revenue from an input unit exceeds its cost. The point of profit maximization is reached when resource units no longer contribute to profit. All three approaches yield the same profit-maximizing quantity of output. (These approaches will be explained in greater detail later.) Because profit is the difference between revenue and cost, an understanding of profit maximization requires that we examine both of those components. Revenue comes from the demand for the firm’s products, and cost comes from the acquisition and utilization of the firm’s inputs in the production of those products. 3.1.1. Total, Average, and Marginal Revenue This section briefly examines demand and revenue in preparation for addressing cost. Unless the firm is a pu

#### Flashcard 1446848630028

Tags
#3-1-profit-maximization #cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
There are three approaches to calculate the point of profit maximization.

Second, maximum profit can also be calculated by comparing revenue and cost for [...]
each individual unit of output that is produced and sold.

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There are three approaches to calculate the point of profit maximization. Second , maximum profit can also be calculated by comparing revenue and cost for each individual unit of output that is produced and sold. A business increases profit through greater sales as long as per-unit revenue exceeds per-unit cost on the next unit of output sold. Profit maximization takes place at th

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) <span>3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a higher standard of living, and creates wealth for investors. Profit motivates businesses to use resources efficiently and to concentrate on activities in which they have a competitive advantage. Most economists believe that profit maximization promotes allocational efficiency—that resources flow into their highest valued uses. Overall, the functions of profit are as follows: Rewards entrepreneurs for risk taking when pursuing business ventures to satisfy consumer demand. Allocates resources to their most-efficient use; input factors flow from sectors with economic losses to sectors with economic profit, where profit reflects goods most desired by society. Spurs innovation and the development of new technology. Stimulates business investment and economic growth. There are three approaches to calculate the point of profit maximization. First, given that profit is the difference between total revenue and total costs, maximum profit occurs at the output level where this difference is the greatest. Second, maximum profit can also be calculated by comparing revenue and cost for each individual unit of output that is produced and sold. A business increases profit through greater sales as long as per-unit revenue exceeds per-unit cost on the next unit of output sold. Profit maximization takes place at the point where the last individual output unit breaks even. Beyond this point, total profit decreases because the per-unit cost is higher than the per-unit revenue from successive output units. A third approach compares the revenue generated by each resource unit with the cost of that unit. Profit contribution occurs when the revenue from an input unit exceeds its cost. The point of profit maximization is reached when resource units no longer contribute to profit. All three approaches yield the same profit-maximizing quantity of output. (These approaches will be explained in greater detail later.) Because profit is the difference between revenue and cost, an understanding of profit maximization requires that we examine both of those components. Revenue comes from the demand for the firm’s products, and cost comes from the acquisition and utilization of the firm’s inputs in the production of those products. 3.1.1. Total, Average, and Marginal Revenue This section briefly examines demand and revenue in preparation for addressing cost. Unless the firm is a pu

#### Flashcard 1446850989324

Tags
#3-1-profit-maximization #cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
There are three approaches to calculate the point of profit maximization.

Third approach compares the [...] with the [...]
revenue generated by each resource unit

cost of that unit.

Profit contribution occurs when the revenue from an input unit exceeds its cost.

The point of profit maximization is reached when resource units no longer contribute to profit.

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There are three approaches to calculate the point of profit maximization. Third approach compares the revenue generated by each resource unit with the cost of that unit. Profit contribution occurs when the revenue from an input unit exceeds its cost. The point of profit maximization is reached when reso

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) <span>3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a higher standard of living, and creates wealth for investors. Profit motivates businesses to use resources efficiently and to concentrate on activities in which they have a competitive advantage. Most economists believe that profit maximization promotes allocational efficiency—that resources flow into their highest valued uses. Overall, the functions of profit are as follows: Rewards entrepreneurs for risk taking when pursuing business ventures to satisfy consumer demand. Allocates resources to their most-efficient use; input factors flow from sectors with economic losses to sectors with economic profit, where profit reflects goods most desired by society. Spurs innovation and the development of new technology. Stimulates business investment and economic growth. There are three approaches to calculate the point of profit maximization. First, given that profit is the difference between total revenue and total costs, maximum profit occurs at the output level where this difference is the greatest. Second, maximum profit can also be calculated by comparing revenue and cost for each individual unit of output that is produced and sold. A business increases profit through greater sales as long as per-unit revenue exceeds per-unit cost on the next unit of output sold. Profit maximization takes place at the point where the last individual output unit breaks even. Beyond this point, total profit decreases because the per-unit cost is higher than the per-unit revenue from successive output units. A third approach compares the revenue generated by each resource unit with the cost of that unit. Profit contribution occurs when the revenue from an input unit exceeds its cost. The point of profit maximization is reached when resource units no longer contribute to profit. All three approaches yield the same profit-maximizing quantity of output. (These approaches will be explained in greater detail later.) Because profit is the difference between revenue and cost, an understanding of profit maximization requires that we examine both of those components. Revenue comes from the demand for the firm’s products, and cost comes from the acquisition and utilization of the firm’s inputs in the production of those products. 3.1.1. Total, Average, and Marginal Revenue This section briefly examines demand and revenue in preparation for addressing cost. Unless the firm is a pu

#### Flashcard 1446853348620

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Question
Financial analysis is the process of examining a company’s performance in the context of [...] in order to arrive at a decision or recommendation.
its industry and economic environment

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Financial analysis is the process of examining a company’s performance in the context of its industry and economic environment in order to arrive at a decision or recommendation.

#### Original toplevel document

1. INTRODUCTION
Financial analysis is the process of examining a company’s performance in the context of its industry and economic environment in order to arrive at a decision or recommendation. Often, the decisions and recommendations addressed by financial analysts pertain to providing capital to companies—specifically, whether to invest in the company’s debt or equity securi

#### Flashcard 1446856232204

Tags
Question
Overall, a central focus of financial analysis is evaluating the company’s ability to earn a return on its capital that is at least equal to [...].
the cost of that capital

to profitably grow its operations, and to generate enough cash to meet obligations and pursue opportunities.

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Overall, a central focus of financial analysis is evaluating the company’s ability to earn a return on its capital that is at least equal to the cost of that capital, to profitably grow its operations, and to generate enough cash to meet obligations and pursue opportunities.

#### Original toplevel document

1. INTRODUCTION
nterest and to repay the principal lent. An investor in equity securities is an owner with a residual interest in the company and is concerned about the company’s ability to pay dividends and the likelihood that its share price will increase. <span>Overall, a central focus of financial analysis is evaluating the company’s ability to earn a return on its capital that is at least equal to the cost of that capital, to profitably grow its operations, and to generate enough cash to meet obligations and pursue opportunities. Fundamental financial analysis starts with the information found in a company’s financial reports. These financial reports include audited financial statements, additional disclosures r

#### Flashcard 1446858591500

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Question
Basic financial statement analysis provides a foundation that enables the analyst to better understand information gathered [...] beyond the financial reports.
from research

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Basic financial statement analysis provides a foundation that enables the analyst to better understand information gathered from research beyond the financial reports.

#### Original toplevel document

1. INTRODUCTION
s with the information found in a company’s financial reports. These financial reports include audited financial statements, additional disclosures required by regulatory authorities, and any accompanying (unaudited) commentary by management. <span>Basic financial statement analysis—as presented in this reading—provides a foundation that enables the analyst to better understand information gathered from research beyond the financial reports. This reading is organized as follows: Section 2 discusses the scope of financial statement analysis. Section 3 describes the sources of information used in financial statem

#### Flashcard 1446860164364

Tags
Question
Reading 22 is organized as follows:

Section 2 discusses [...] of financial statement analysis.

Section 3 describes the sources of information used in financial statement analysis, including the primary financial statements.

Section 4 provides a framework for guiding the financial statement analysis process.
the scope

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Reading 22 is organized as follows: Section 2 discusses the scope of financial statement analysis. Section 3 describes the sources of information used in financial statement analysis, including the primary financial statements. &#13

#### Original toplevel document

1. INTRODUCTION
dited) commentary by management. Basic financial statement analysis—as presented in this reading—provides a foundation that enables the analyst to better understand information gathered from research beyond the financial reports. <span>This reading is organized as follows: Section 2 discusses the scope of financial statement analysis. Section 3 describes the sources of information used in financial statement analysis, including the primary financial statements (balance sheet, statement of comprehensive income, statement of changes in equity, and cash flow statement). Section 4 provides a framework for guiding the financial statement analysis process. A summary of the key points and practice problems in the CFA Institute multiple-choice format conclude the reading. <span><body><html>

#### Flashcard 1446861999372

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Question
Is Cash flow a complete measure of performance?
no

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Cash flow in any given period is not a complete measure of performance for that period.

#### Original toplevel document

2. SCOPE OF FINANCIAL STATEMENT ANALYSIS
d to earn that income. Overall, profit (or loss) equals income minus expenses, and its recognition is mostly independent from when cash is received or paid. Example 1 illustrates the distinction between profit and cash flow. <span>EXAMPLE 1 Profit versus Cash Flow Sennett Designs (SD) sells furniture on a retail basis. SD began operations during December 2009 and sold furniture for €250,000 in cash. The furniture sold by SD was purchased on credit for €150,000 and delivered by the supplier during December. The credit terms granted by the supplier required SD to pay the €150,000 in January for the furniture it received during December. In addition to the purchase and sale of furniture, in December, SD paid €20,000 in cash for rent and salaries. How much is SD’s profit for December 2009 if no other transactions occurred? How much is SD’s cash flow for December 2009? If SD purchases and sells exactly the same amount in January 2010 as it did in December and under the same terms (receiving cash for the sales and making purchases on credit that will be due in February), how much will the company’s profit and cash flow be for the month of January? Solution to 1: SD’s profit for December 2009 is the excess of the sales price (€250,000) over the cost of the goods that were sold (€150,000) and rent and salaries (€20,000), or €80,000. Solution to 2: The December 2009 cash flow is €230,000, the amount of cash received from the customer (€250,000) less the cash paid for rent and salaries (€20,000). Solution to 3: SD’s profit for January 2010 will be identical to its profit in December: €80,000, calculated as the sales price (€250,000) minus the cost of the goods that were sold (€150,000) and minus rent and salaries (€20,000). SD’s cash flow in January 2010 will also equal €80,000, calculated as the amount of cash received from the customer (€250,000) minus the cash paid for rent and salaries (€20,000) and minus the €150,000 that SD owes for the goods it had purchased on credit in the prior month. Although profitability is important, so is a company’s ability to generate positive cash flow. Cash flow is important because, ultimately, the company needs cash to pay employees, suppliers, and others in order to continue as a going concern. A company that generates positive cash flow from operations has more flexibility in funding needed for investments and taking advantage of attractive business opportunities than an otherwise comparable company without positive operating cash flow. Additionally, a company needs cash to pay returns (interest and dividends) to providers of debt and equity capital. Therefore, the expected magnitude of future cash flows is important in valuing corporate securities and in determining the company’s ability to meet its obligations. The ability to meet short-term obligations is generally referred to as liquidity , and the ability to meet long-term obligations is generally referred to as solvency . Cash flow in any given period is not, however, a complete measure of performance for that period because, as shown in Example 1, a company may be obligated to make future cash payments as a result of a transaction that generates positive cash flow in the current period. Profits may provide useful information about cash flows, past and future. If the transaction of Example 1 were repeated month after month, the long-term average monthly cas

#### Flashcard 1446865407244

Tags
#3-1-profit-maximization #cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question

Overall, the functions of profit are as follows:

• Spurs [...] and [...]

innovation

new technology.

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sfy consumer demand. Allocates resources to their most-efficient use; input factors flow from sectors with economic losses to sectors with economic profit, where profit reflects goods most desired by society. Spurs <span>innovation and the development of new technology. Stimulates business investment and economic growth.<span><body><html>

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) <span>3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a higher standard of living, and creates wealth for investors. Profit motivates businesses to use resources efficiently and to concentrate on activities in which they have a competitive advantage. Most economists believe that profit maximization promotes allocational efficiency—that resources flow into their highest valued uses. Overall, the functions of profit are as follows: Rewards entrepreneurs for risk taking when pursuing business ventures to satisfy consumer demand. Allocates resources to their most-efficient use; input factors flow from sectors with economic losses to sectors with economic profit, where profit reflects goods most desired by society. Spurs innovation and the development of new technology. Stimulates business investment and economic growth. There are three approaches to calculate the point of profit maximization. First, given that profit is the difference between total revenue and total costs, maximum profit occurs at the output level where this difference is the greatest. Second, maximum profit can also be calculated by comparing revenue and cost for each individual unit of output that is produced and sold. A business increases profit through greater sales as long as per-unit revenue exceeds per-unit cost on the next unit of output sold. Profit maximization takes place at the point where the last individual output unit breaks even. Beyond this point, total profit decreases because the per-unit cost is higher than the per-unit revenue from successive output units. A third approach compares the revenue generated by each resource unit with the cost of that unit. Profit contribution occurs when the revenue from an input unit exceeds its cost. The point of profit maximization is reached when resource units no longer contribute to profit. All three approaches yield the same profit-maximizing quantity of output. (These approaches will be explained in greater detail later.) Because profit is the difference between revenue and cost, an understanding of profit maximization requires that we examine both of those components. Revenue comes from the demand for the firm’s products, and cost comes from the acquisition and utilization of the firm’s inputs in the production of those products. 3.1.1. Total, Average, and Marginal Revenue This section briefly examines demand and revenue in preparation for addressing cost. Unless the firm is a pu

#### Flashcard 1446867766540

Tags
#3-1-profit-maximization #cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question

Overall, the functions of profit are as follows:

• Rewards entrepreneurs for [...] to [...]

risk taking when pursuing business ventures

satisfy consumer demand.

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Overall, the functions of profit are as follows: Rewards entrepreneurs for risk taking when pursuing business ventures to satisfy consumer demand. Allocates resources to their most-efficient use; input factors flow from sectors with economic losses to sectors with economic profit, where pr

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) <span>3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a higher standard of living, and creates wealth for investors. Profit motivates businesses to use resources efficiently and to concentrate on activities in which they have a competitive advantage. Most economists believe that profit maximization promotes allocational efficiency—that resources flow into their highest valued uses. Overall, the functions of profit are as follows: Rewards entrepreneurs for risk taking when pursuing business ventures to satisfy consumer demand. Allocates resources to their most-efficient use; input factors flow from sectors with economic losses to sectors with economic profit, where profit reflects goods most desired by society. Spurs innovation and the development of new technology. Stimulates business investment and economic growth. There are three approaches to calculate the point of profit maximization. First, given that profit is the difference between total revenue and total costs, maximum profit occurs at the output level where this difference is the greatest. Second, maximum profit can also be calculated by comparing revenue and cost for each individual unit of output that is produced and sold. A business increases profit through greater sales as long as per-unit revenue exceeds per-unit cost on the next unit of output sold. Profit maximization takes place at the point where the last individual output unit breaks even. Beyond this point, total profit decreases because the per-unit cost is higher than the per-unit revenue from successive output units. A third approach compares the revenue generated by each resource unit with the cost of that unit. Profit contribution occurs when the revenue from an input unit exceeds its cost. The point of profit maximization is reached when resource units no longer contribute to profit. All three approaches yield the same profit-maximizing quantity of output. (These approaches will be explained in greater detail later.) Because profit is the difference between revenue and cost, an understanding of profit maximization requires that we examine both of those components. Revenue comes from the demand for the firm’s products, and cost comes from the acquisition and utilization of the firm’s inputs in the production of those products. 3.1.1. Total, Average, and Marginal Revenue This section briefly examines demand and revenue in preparation for addressing cost. Unless the firm is a pu

#### Flashcard 1446870125836

Tags
#3-1-profit-maximization #cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question

Overall, the functions of profit are as follows:

• [...] to their most-efficient use;

Allocates resources

input factors flow from sectors with economic losses to sectors with economic profit, where profit reflects goods most desired by society.

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Overall, the functions of profit are as follows: Rewards entrepreneurs for risk taking when pursuing business ventures to satisfy consumer demand. Allocates resources to their most-efficient use; input factors flow from sectors with economic losses to sectors with economic profit, where profit reflects goods most desired by society. Spu

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) <span>3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a higher standard of living, and creates wealth for investors. Profit motivates businesses to use resources efficiently and to concentrate on activities in which they have a competitive advantage. Most economists believe that profit maximization promotes allocational efficiency—that resources flow into their highest valued uses. Overall, the functions of profit are as follows: Rewards entrepreneurs for risk taking when pursuing business ventures to satisfy consumer demand. Allocates resources to their most-efficient use; input factors flow from sectors with economic losses to sectors with economic profit, where profit reflects goods most desired by society. Spurs innovation and the development of new technology. Stimulates business investment and economic growth. There are three approaches to calculate the point of profit maximization. First, given that profit is the difference between total revenue and total costs, maximum profit occurs at the output level where this difference is the greatest. Second, maximum profit can also be calculated by comparing revenue and cost for each individual unit of output that is produced and sold. A business increases profit through greater sales as long as per-unit revenue exceeds per-unit cost on the next unit of output sold. Profit maximization takes place at the point where the last individual output unit breaks even. Beyond this point, total profit decreases because the per-unit cost is higher than the per-unit revenue from successive output units. A third approach compares the revenue generated by each resource unit with the cost of that unit. Profit contribution occurs when the revenue from an input unit exceeds its cost. The point of profit maximization is reached when resource units no longer contribute to profit. All three approaches yield the same profit-maximizing quantity of output. (These approaches will be explained in greater detail later.) Because profit is the difference between revenue and cost, an understanding of profit maximization requires that we examine both of those components. Revenue comes from the demand for the firm’s products, and cost comes from the acquisition and utilization of the firm’s inputs in the production of those products. 3.1.1. Total, Average, and Marginal Revenue This section briefly examines demand and revenue in preparation for addressing cost. Unless the firm is a pu

#### Flashcard 1446872485132

Tags
#3-1-profit-maximization #cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question

Overall, the functions of profit are as follows:

• Stimulates [...] and [...]

economic growth.

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ent use; input factors flow from sectors with economic losses to sectors with economic profit, where profit reflects goods most desired by society. Spurs innovation and the development of new technology. Stimulates <span>business investment and economic growth.<span><body><html>

#### Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
Total variable cost divided by quantity; (TVC ÷ Q) Average total cost (ATC) Total cost divided by quantity; (TC ÷ Q) or (AFC + AVC) Marginal cost (MC) Change in total cost divided by change in quantity; (∆TC ÷ ∆Q) <span>3.1. Profit Maximization In free markets—and even in regulated market economies—profit maximization tends to promote economic welfare and a higher standard of living, and creates wealth for investors. Profit motivates businesses to use resources efficiently and to concentrate on activities in which they have a competitive advantage. Most economists believe that profit maximization promotes allocational efficiency—that resources flow into their highest valued uses. Overall, the functions of profit are as follows: Rewards entrepreneurs for risk taking when pursuing business ventures to satisfy consumer demand. Allocates resources to their most-efficient use; input factors flow from sectors with economic losses to sectors with economic profit, where profit reflects goods most desired by society. Spurs innovation and the development of new technology. Stimulates business investment and economic growth. There are three approaches to calculate the point of profit maximization. First, given that profit is the difference between total revenue and total costs, maximum profit occurs at the output level where this difference is the greatest. Second, maximum profit can also be calculated by comparing revenue and cost for each individual unit of output that is produced and sold. A business increases profit through greater sales as long as per-unit revenue exceeds per-unit cost on the next unit of output sold. Profit maximization takes place at the point where the last individual output unit breaks even. Beyond this point, total profit decreases because the per-unit cost is higher than the per-unit revenue from successive output units. A third approach compares the revenue generated by each resource unit with the cost of that unit. Profit contribution occurs when the revenue from an input unit exceeds its cost. The point of profit maximization is reached when resource units no longer contribute to profit. All three approaches yield the same profit-maximizing quantity of output. (These approaches will be explained in greater detail later.) Because profit is the difference between revenue and cost, an understanding of profit maximization requires that we examine both of those components. Revenue comes from the demand for the firm’s products, and cost comes from the acquisition and utilization of the firm’s inputs in the production of those products. 3.1.1. Total, Average, and Marginal Revenue This section briefly examines demand and revenue in preparation for addressing cost. Unless the firm is a pu

#### Flashcard 1446874844428

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#rules-of-formulating-knowledge
Question
you should make sure that you are not deprived of the said emotional clues at the moment when you need to [...]
retrieve a given memory in a real-life situation

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you should make sure that you are not deprived of the said emotional clues at the moment when you need to retrieve a given memory in a real-life situation

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15. Rely on emotional states
fies the means. Use objects that evoke very specific and strong emotions: love, sex, war, your late relative, object of your infatuation, Linda Tripp, Nelson Mandela, etc. It is well known that emotional states can facilitate recall; however, <span>you should make sure that you are not deprived of the said emotional clues at the moment when you need to retrieve a given memory in a real-life situation Harder item Q: a light and joking conversation A: banter Easier item Q: a light and joking conversation (e.g. Mandela

#### Flashcard 1446876679436

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Question
Acompany's financial reports include audited financial statements, additional [...] required by regulatory authorities, and any accompanying (unaudited) commentary by management.
disclosures

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Acompany's financial reports include audited financial statements, additional disclosures required by regulatory authorities, and any accompanying (unaudited) commentary by management.

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1. INTRODUCTION
to the cost of that capital, to profitably grow its operations, and to generate enough cash to meet obligations and pursue opportunities. Fundamental financial analysis starts with the information found in a company’s financial reports. These <span>financial reports include audited financial statements, additional disclosures required by regulatory authorities, and any accompanying (unaudited) commentary by management. Basic financial statement analysis—as presented in this reading—provides a foundation that enables the analyst to better understand information gathered from research beyond the financi

#### Annotation 1446890310924

 #cfa-level-1 #economics #has-images #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4 This image illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L0 – L1), TP is increasing at an increasing rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L1 – L2), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. Point A is where TP is maximized.

#### Annotation 1446895553804

 #cfa-level-1 #economics #has-images #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4 The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3.

Open it
This image illustrates the shape of a typical input–output relationship using labor (L) as the only variable input (all other input factors are held constant). The production function has three distinct regions where both the direction of change and the rate of change in total product (TP or Q, quantity of output) vary as production changes. Regions 1 and 2 have positive changes in TP as labor is added, but the change turns negative in Region 3. Moreover, in Region 1 (L 0 – L 1 ), TP is increasing at an increasing rate, ty

#### Annotation 1446906301708

 #cfa-level-1 #economics #has-images #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4 The firm would want to avoid Region 3 because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”.

Open it
rate, typically because specialization allows laborers to become increasingly productive. In Region 2, however, (L 1 – L 2 ), TP is increasing at a decreasing rate because capital is fixed, and labor experiences diminishing marginal returns. <span>The firm would want to avoid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. Point A is where TP is maximized. <span><body><html>

#### Annotation 1446911020300

 #cfa-level-1 #economics #has-images #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4 Point A is where TP is maximized.

Open it
oid Region 3 if at all possible because total product or quantity would be declining rather than increasing with additional input: There is so little capital per unit of labor that additional laborers would possibly “get in each other’s way”. <span>Point A is where TP is maximized. <span><body><html>

#### Flashcard 1446914690316

Question
[...] is how much warmth we can have for ourselves, especially when we’re going through a difficult experience
Self-compassion

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Self-compassion is how much warmth we can have for ourselves, especially when we’re going through a difficult experience

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Question
Self-compassion is [...], especially when we’re going through a difficult experience
how much warmth we can have for ourselves

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Self-compassion is how much warmth we can have for ourselves, especially when we’re going through a difficult experience

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Question
[...] is our belief in our ability to do or to learn how to do something. Self-esteem is how much we approve of or value ourselves. It’s often a comparison-based
Self-confidence

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Self-confidence is our belief in our ability to do or to learn how to do something. Self-esteem is how much we approve of or value ourselves. It’s often a comparison-based

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#### Flashcard 1446919671052

Question
Self-confidence is [...]. Self-esteem is how much we approve of or value ourselves. It’s often a comparison-based
our belief in our ability to do or to learn how to do something

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Self-confidence is our belief in our ability to do or to learn how to do something. Self-esteem is how much we approve of or value ourselves. It’s often a comparison-based

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#### Flashcard 1446921243916

Question
Self-confidence is our belief in our ability to do or to learn how to do something. [...] is how much we approve of or value ourselves. It’s often a comparison-based
Self-esteem

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Self-confidence is our belief in our ability to do or to learn how to do something. Self-esteem is how much we approve of or value ourselves. It’s often a comparison-based

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#### Flashcard 1446922816780

Question
Self-confidence is our belief in our ability to do or to learn how to do something. Self-esteem is [...]. It’s often a comparison-based
how much we approve of or value ourselves

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Self-confidence is our belief in our ability to do or to learn how to do something. Self-esteem is how much we approve of or value ourselves. It’s often a comparison-based

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#### Flashcard 1446924389644

Tags
#charisma #myth
Question
How do you invoke compassion for another person?
1. Imagine their past. What if you had been born in their circumstances, with their family and upbringing? What was it like growing up in their family situation with whatever they experienced as a child? It’s often said that everyone you meet has stories to tell, and that everyone has a few that would break your heart. Consider also that if you had experienced everything they have experienced, perhaps you would have turned out just like they have.
2. Imagine their present. Really try to put yourself in their shoes right now. Imagine what it feels like to be them today. Put yourself in their place, be in their skin, see through their eyes. Imagine what they might be feeling right now—all the emotions they might be holding inside.
3. If you really need compassion dynamite, look at them and ask: What if this were their last day alive? You can even imagine their funeral. You’re at their funeral, and you’re asked to say a few words about them. You can also imagine what you’d say to them after they’d already died

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everyone has a few that would break your heart. Consider also that if you had experienced everything they have experienced, perhaps you would have turned out just like they have. 2. Imagine their present. Really try to put yourself in their shoes right now. Imagine what it feels like to be them today. Put yourself in their place, be in their skin, see through their eyes. Imagine what they might be feeling right now—all the emotions they might be holding inside. 3. If you really need compassion dynamite, look at them and ask: What if this were their last day alive? You can even imagine their funeral. You’re at their funeral, and you’re asked to say a few words about them. You can also imagine what you’d say to them after they’d already died

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#### Flashcard 1446931991820

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#charisma
Question
What is empathy?
the ability to understand what someone is feeling

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Paul Gilbert, one of the main researchers in the field of compassion, describes the process of accessing compassion as follows: first comes empathy, the ability to understand what someone is feeling, to detect distress; second, sympathy, being emotionally moved by distress; and third, compassion, which arises with the desire to care for the well-being of the distressed person.</spa

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#### Flashcard 1446934351116

Tags
#charisma
Question
What is sympathy?
being emotionally moved by distress

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span>Paul Gilbert, one of the main researchers in the field of compassion, describes the process of accessing compassion as follows: first comes empathy, the ability to understand what someone is feeling, to detect distress; second, sympathy, <span>being emotionally moved by distress; and third, compassion, which arises with the desire to care for the well-being of the distressed person.<span><body><html>

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#### Flashcard 1446938283276

Tags
#charisma
Question
What is compassion?
the desire to care for the well-being of the distressed person.

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cribes the process of accessing compassion as follows: first comes empathy, the ability to understand what someone is feeling, to detect distress; second, sympathy, being emotionally moved by distress; and third, compassion, which arises with <span>the desire to care for the well-being of the distressed person.<span><body><html>

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#### Flashcard 1446940642572

Tags
#charisma
Question
What are the stages to compassion?
1. First comes empathy, the ability to understand what someone is feeling, to detect distress;
2. Second, sympathy, being emotionally moved by distress
3. And third, compassion, which arises with the desire to care for the well-being of the distressed person.

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Paul Gilbert, one of the main researchers in the field of compassion, describes the process of accessing compassion as follows: first comes empathy, the ability to understand what someone is feeling, to detect distress; second, sympathy, being emotionally moved by distress; and third, compassion, which arises with the desire to care for the well-being of the distressed person.

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#### Flashcard 1446945361164

Tags
#charisma
Question
What's a maxim for inducing goodwill towards others?
Of all the options open to me right now, which one would bring the most love into this world?

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Remind yourself of these maxims several times a day, and notice the shift this can make in your mind and body. Another saying people often find equally effective: Of all the options open to me right now, which one would bring the most love into this world?

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#### Flashcard 1446947720460

Tags
#charisma
Question
What's an "angelic" visualization for inducing warmth?
in any interaction, imagine the person you’re speaking to, and all those around you, as having invisible angel wings/halo.

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>First, a visualization. This one comes from neuroscientist Dr. Privahini Bradoo, a highly charismatic person whose radiating warmth and happiness I’ve long admired. I was grateful when she shared one of her secrets with me: in any interaction, imagine the person you’re speaking to, and all those around you, as having invisible angel wings.<html>

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#### Flashcard 1446950079756

Tags
#charisma
Question
What is a simple technique to feel goodwill toward someone? (three)
One simple but effective way to start is to try to find three things you like about the person you want to feel goodwill toward. Even trivial things like their shoes are tied.

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One simple but effective way to start is to try to find three things you like about the person you want to feel goodwill toward. No matter whom it is you’re talking to, find three things to appreciate or approve of—even if these are as small as “their shoes are shined” or “they were on time.” When you start searc

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#### Flashcard 1446952701196

Tags
#charisma
Question
How would you visualize your own funeral? (for self compassion)
1. Sit or lie down, close your eyes, and set the scene. Where is your funeral being held? What day of the week, what time of day? What is the weather like? See the building where the ceremony is being held. See people arriving. Who’s coming? What are they wearing? Now move into the building and look around inside. Do you see flowers? If so, smell the flowers’ scent heavy on the air. See people coming through the door. What are they thinking? What kind of chairs are they sitting in? What do these chairs feel like?
2. Your funeral starts. Think of the people you care most about or whose opinions matter most to you. What are they thinking? See them stepping up one after another and delivering their eulogy. What are they saying? What regrets do they have for you? Now think: What would you like them to have said? What regrets do you have for yourself?
3. See people following your coffin to the cemetery and gathering around your grave. What would you like to see written on your tombstone?
4. Almost everyone, of all ages, genders, and seniority levels, gets a bit teary-eyed by the end. You might feel moved, touched, stirred. Stay with these emotions as much as you can and aim to get comfortable with them.

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♦ Sit or lie down, close your eyes, and set the scene. Where is your funeral being held? What day of the week, what time of day? What is the weather like? See the building where the ceremony is being held. See people arriving. Who’s coming? What are they wearing? Now move into the building and look around inside. Do you see flowers? If so, smell the flowers’ scent heavy on the air. See people coming through the door. What are they thinking? What kind of chairs are they sitting in? What do these chairs feel like? ♦ Your funeral starts. Think of the people you care most about or whose opinions matter most to you. What are they thinking? See them stepping up one after another and delivering their eulogy. What are they saying? What regrets do they have for you? Now think: What would you like them to have said? What regrets do you have for yourself? ♦ See people following your coffin to the cemetery and gathering around your grave. What would you like to see written on your tombstone? ♦ Almost everyone, of all ages, genders, and seniority levels, gets a bit teary-eyed by the end. You might feel moved, touched, stirred. Stay with these emotions as much as you can and aim to get comfortable with them.

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Question
What is a technique for inducing self-gratitude?
♦ Start to describe your life as if you were an outside observer, and focus on all the positive aspects you can think of.
♦ Write about your job—the work you do and the people you work with. Describe your personal relationships and the good things friends and family members would say about you. Mention a few positive things that have happened today and the tasks you have already accomplished.
♦ Take the time to write down this narrative. Just thinking about it won’t be as effective

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Use a third-person lens: For this technique, you’ll need just a few minutes to sit down, a pen, and some paper. ♦ Start to describe your life as if you were an outside observer, and focus on all the positive aspects you can think of. ♦ Write about your job—the work you do and the people you work with. Describe your personal relationships and the good things friends and family members would say about you. Mention a few positive things that have happened today and the tasks you have already accomplished. ♦ Take the time to write down this narrative. Just thinking about it won’t be as effective

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Question
How do you maintain positive body language even when annoyed?
The next time you find yourself annoyed at some minor thing, remember that letting your mind focus on the annoyance could impair your body language. To counter this, follow the suggestions below:
♦ Sweep through your body from head to toe and find three abilities you approve of. You could be grateful that you have feet and toes that allow you to walk. You might appreciate your ability to read.

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Focus on the present: The next time you find yourself annoyed at some minor thing, remember that letting your mind focus on the annoyance could impair your body language. To counter this, follow the suggestions below: ♦ Sweep through your body from head to toe and find three abilities you approve of. You could be grateful that you have feet and toes that allow you to walk. You might appreciate your ability to read.

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Question
What did Napoleon Hill visualize as his counselors?
Nineteenth-century author Napoleon Hill would regularly visualize nine famous men as his personal counselors, including Ralph Waldo Emerson, Thomas Edison, Charles Darwin, and Abraham Lincoln.

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Nineteenth-century author Napoleon Hill would regularly visualize nine famous men as his personal counselors, including Ralph Waldo Emerson, Thomas Edison, Charles Darwin, and Abraham Lincoln. He wrote: “Every night… I held an imaginary council meeting with this group whom I called my ‘Invisible Counselors.’… I now go to my imaginary counselors with every difficult problem th

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Question
How do you induce oxytocin release?
A twenty- second hug is enough to send oxytocin coursing through your veins, and that you can achieve the same effect just by imagining the hug.

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One of my favorite neuroscience resources, the Wise Brain Bulletin, suggested that a twenty- second hug is enough to send oxytocin coursing through your veins, and that you can achieve the same effect just by imagining the hug.

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Question
What are some maxims for accessing serenity in times of distress?
A week from now, or a year from now, will any of this matter?
This, too, shall pass.
Look for little miracles unfolding right now.
What if you could trust the Universe, even with this?

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help you access calm and serenity. They run the gamut of tastes and styles, so you may find that some raise your hackles while others strongly resonate: A week from now, or a year from now, will any of this matter? This, too, shall pass. Yes, it will. Look for little miracles unfolding right now. Love the confusion. What if you could trust the Universe, even with this?

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Question
How do you induce a confident state?
1. Close your eyes and relax.
2. Remember a past experience when you felt absolutely triumphant—for example, the day you won a contest or an award.
3. Hear the sounds in the room: the murmurs of approval, the swell of applause.
4. See people’s smiles and expressions of warmth and admiration.
5. Feel your feet on the ground and the congratulatory handshakes.
6. Above all, experience your feelings, the warm glow of confidence rising within you

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♦ Close your eyes and relax. ♦ Remember a past experience when you felt absolutely triumphant—for example, the day you won a contest or an award. ♦ Hear the sounds in the room: the murmurs of approval, the swell of applause. ♦ See people’s smiles and expressions of warmth and admiration. ♦ Feel your feet on the ground and the congratulatory handshakes. ♦ Above all, experience your feelings, the warm glow of confidence rising within you

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Question
Compound statements typically span [...] and start with a one-line header ending in a colon, which identifies the type of statement.
multiple lines

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Compound statements typically span multiple lines and start with a one-line header ending in a colon, which identifies the type of statement.

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1.5 Control
ver, much of the interesting work of computation comes from evaluating expressions. Statements govern the relationship among different expressions in a program and what happens to their results. 1.5.2 Compound Statements In general, <span>Python code is a sequence of statements. A simple statement is a single line that doesn't end in a colon. A compound statement is so called because it is composed of other statements (simple and compound). Compound statements typically span multiple lines and start with a one-line header ending in a colon, which identifies the type of statement. Together, a header and an indented suite of statements is called a clause. A compound statement consists of one or more clauses: <span>
: ... : ... ... We can understand t

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Question
Compound statements typically span multiple lines and start with a [...ending with a...], which identifies the type of statement.
one-line header ending in a colon

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Compound statements typically span multiple lines and start with a one-line header ending in a colon, which identifies the type of statement.

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1.5 Control
ver, much of the interesting work of computation comes from evaluating expressions. Statements govern the relationship among different expressions in a program and what happens to their results. 1.5.2 Compound Statements In general, <span>Python code is a sequence of statements. A simple statement is a single line that doesn't end in a colon. A compound statement is so called because it is composed of other statements (simple and compound). Compound statements typically span multiple lines and start with a one-line header ending in a colon, which identifies the type of statement. Together, a header and an indented suite of statements is called a clause. A compound statement consists of one or more clauses: <span>
: ... : ... ... We can understand t

#### Flashcard 1446976032012

Question
A compound statement consists of one or more [...]:
clauses

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A compound statement consists of one or more clauses:

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1.5 Control
ver, much of the interesting work of computation comes from evaluating expressions. Statements govern the relationship among different expressions in a program and what happens to their results. 1.5.2 Compound Statements In general, <span>Python code is a sequence of statements. A simple statement is a single line that doesn't end in a colon. A compound statement is so called because it is composed of other statements (simple and compound). Compound statements typically span multiple lines and start with a one-line header ending in a colon, which identifies the type of statement. Together, a header and an indented suite of statements is called a clause. A compound statement consists of one or more clauses: <span>
: ... : ... ... We can understand t

#### Flashcard 1446977604876

Question
a header and an indented suite of statements is called a [...].
clause

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a header and an indented suite of statements is called a clause.

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1.5 Control
ver, much of the interesting work of computation comes from evaluating expressions. Statements govern the relationship among different expressions in a program and what happens to their results. 1.5.2 Compound Statements In general, <span>Python code is a sequence of statements. A simple statement is a single line that doesn't end in a colon. A compound statement is so called because it is composed of other statements (simple and compound). Compound statements typically span multiple lines and start with a one-line header ending in a colon, which identifies the type of statement. Together, a header and an indented suite of statements is called a clause. A compound statement consists of one or more clauses: <span>
: ... : ... ... We can understand t

#### Flashcard 1446979177740

Question
[two things] is called a clause.
a header and an indented suite of statements

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a header and an indented suite of statements is called a clause.

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1.5 Control
ver, much of the interesting work of computation comes from evaluating expressions. Statements govern the relationship among different expressions in a program and what happens to their results. 1.5.2 Compound Statements In general, <span>Python code is a sequence of statements. A simple statement is a single line that doesn't end in a colon. A compound statement is so called because it is composed of other statements (simple and compound). Compound statements typically span multiple lines and start with a one-line header ending in a colon, which identifies the type of statement. Together, a header and an indented suite of statements is called a clause. A compound statement consists of one or more clauses: <span>
: ... : ... ... We can understand t

#### Flashcard 1446981537036

Question
A compound statement is so called because it is [...]
composed of other statements (simple and compound)

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A compound statement is so called because it is composed of other statements (simple and compound)

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1.5 Control
ver, much of the interesting work of computation comes from evaluating expressions. Statements govern the relationship among different expressions in a program and what happens to their results. 1.5.2 Compound Statements In general, <span>Python code is a sequence of statements. A simple statement is a single line that doesn't end in a colon. A compound statement is so called because it is composed of other statements (simple and compound). Compound statements typically span multiple lines and start with a one-line header ending in a colon, which identifies the type of statement. Together, a header and an indented suite of statements is called a clause. A compound statement consists of one or more clauses: <span>
: ... : ... ... We can understand t

#### Flashcard 1446983109900

Question
A [...] statement is a single line that doesn't end in a colon.
simple

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A simple statement is a single line that doesn't end in a colon.

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1.5 Control
ver, much of the interesting work of computation comes from evaluating expressions. Statements govern the relationship among different expressions in a program and what happens to their results. 1.5.2 Compound Statements In general, <span>Python code is a sequence of statements. A simple statement is a single line that doesn't end in a colon. A compound statement is so called because it is composed of other statements (simple and compound). Compound statements typically span multiple lines and start with a one-line header ending in a colon, which identifies the type of statement. Together, a header and an indented suite of statements is called a clause. A compound statement consists of one or more clauses: <span>
: ... : ... ... We can understand t

#### Flashcard 1446984682764

Question
A simple statement is a [(literal description in terms of what you write)]
single line that doesn't end in a colon.

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A simple statement is a single line that doesn't end in a colon.

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1.5 Control
ver, much of the interesting work of computation comes from evaluating expressions. Statements govern the relationship among different expressions in a program and what happens to their results. 1.5.2 Compound Statements In general, <span>Python code is a sequence of statements. A simple statement is a single line that doesn't end in a colon. A compound statement is so called because it is composed of other statements (simple and compound). Compound statements typically span multiple lines and start with a one-line header ending in a colon, which identifies the type of statement. Together, a header and an indented suite of statements is called a clause. A compound statement consists of one or more clauses: <span>
: ... : ... ... We can understand t

#### Flashcard 1446986255628

Question
Python code is a sequence of [...].
statements

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Python code is a sequence of statements.

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1.5 Control
ver, much of the interesting work of computation comes from evaluating expressions. Statements govern the relationship among different expressions in a program and what happens to their results. 1.5.2 Compound Statements In general, <span>Python code is a sequence of statements. A simple statement is a single line that doesn't end in a colon. A compound statement is so called because it is composed of other statements (simple and compound). Compound statements typically span multiple lines and start with a one-line header ending in a colon, which identifies the type of statement. Together, a header and an indented suite of statements is called a clause. A compound statement consists of one or more clauses: <span>
: ... : ... ... We can understand t

#### Flashcard 1446988352780

Question
[...] ligands are most needed for these unexplored receptors, as they enable both the biochemical characterization of the receptors in vitro and ligand-guided homol- ogy model refinement in silico.
Surrogate

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Surrogate ligands are most needed for these unexplored receptors, as they enable both the biochemical characterization of the receptors in vitro and ligand-guided homol- ogy model refinemen

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Surrogate ligands are most needed for these unexplored receptors, as they enable both [...] and ligand-guided homol- ogy model refinement in silico.
the biochemical characterization of the receptors in vitro

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Surrogate ligands are most needed for these unexplored receptors, as they enable both the biochemical characterization of the receptors in vitro and ligand-guided homol- ogy model refinement in silico.

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Question
Surrogate ligands are most needed for these unexplored receptors, as they enable both the biochemical characterization of the receptors in vitro and [...]
ligand-guided homol- ogy model refinement in silico.

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Surrogate ligands are most needed for these unexplored receptors, as they enable both the biochemical characterization of the receptors in vitro and ligand-guided homol- ogy model refinement in silico.

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Question
[...] data is inherently biased toward closest phyloge- netic relatives because of the common practice of testing ligand selectivity profiles only on homologous receptors
ChEMBL

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ChEMBL data is inherently biased toward closest phyloge- netic relatives because of the common practice of testing ligand selectivity profiles only on homologous receptors

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Question
ChEMBL data is inherently biased toward [...] because of the common practice of testing ligand selectivity profiles only on homologous receptors
closest phyloge- netic relatives

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ChEMBL data is inherently biased toward closest phyloge- netic relatives because of the common practice of testing ligand selectivity profiles only on homologous receptors

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Question
ChEMBL data is inherently biased toward closest phyloge- netic relatives because of the common practice of [...]
testing ligand selectivity profiles only on homologous receptors

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ChEMBL data is inherently biased toward closest phyloge- netic relatives because of the common practice of testing ligand selectivity profiles only on homologous receptors

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#### Flashcard 1446999887116

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#gpcr-coinpocket
Question
The Coinpocket method has residue contacts based on energy rather than distance (T/F)
are distance based, not energy based

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residue contact strengths (1) are distance based, not energy based; (2) rep- resent a coarse-grain approximation of actual interaction energies; (3) have improved signal-to-noise ratios through analysis of mul- tiple ligands and crystallographic confo

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Question
What is the GPCR Pocketome?
the set of annotated GPCR binding pockets that have been crystallographically characterized to date

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Here we sought to further refine the comparisons of GPCR binding sites by analyzing both the persis- tence and the strength of residue–ligand interactions observed across the GPCR Pocketome—the set of annotated GPCR binding pockets that have been crystallographically characterized to date 16 . By enriching the binding-site comparisons with ligand contact strengths, a method we term GPCR–CoINPocket (GPCR contact- informed neighboring pocket), we organized and clu

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Question
How are homologs of GPCRs (and other proteins) traditionally determined?
homologs are traditionally determined by sequence alignment and calculation of amino acid identity or similarity at each posi- tion.

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homologs are traditionally determined by sequence alignment and calculation of amino acid identity or similarity at each posi- tion.

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#### Annotation 1447007751436

 #biochem the interaction energy for a negative charge that is sepa- rated from a positive charge by 3 Å in vacuum turns out to be about −500 kJ•mol −1

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the interaction energy for a negative charge that is sepa- rated from a positive charge by 3 Å in vacuum turns out to be about −500 kJ•mol −1 (Figure 1.10A; we shall explain how such a calculation is done in Chapter 6). Th is result might make it appear that electrostatic interactions are extremely strong (this value is 200 t

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#biochem
Question
When two oppositely charged groups are close to each other, the interaction is called an [...or...]
ion pair or a salt bridge,

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When two oppositely charged groups are close to each other, the interaction is called an ion pair or a salt bridge,

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#### Flashcard 1447012470028

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#biochem
Question
the foot pads of geckos contain millions of tiny hair-like protrusions with fl at tips, called [...].
spatulae

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the foot pads of geckos contain millions of tiny hair-like protrusions with fl at tips, called spatulae.

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#### Flashcard 1447014042892

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#biochem
Question
[...], which is a measure of the likeli- hood of a particular arrangement of molecules.
entropy

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entropy, which is a measure of the likeli- hood of a particular arrangement of molecules.

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#### Flashcard 1447015615756

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#biochem
Question
entropy, which is a measure of [...]
the likeli- hood of a particular arrangement of molecules.

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entropy, which is a measure of the likeli- hood of a particular arrangement of molecules.

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#### Annotation 1447017188620

 #biochem the function of a molecule depends on its structure and biological macromolecules can assemble spontaneously into functional structures

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There are two central themes underlying the concepts in this book. The first is that the function of a molecule depends on its structure and that biological macromolecules can assemble spontaneously into functional structures. The second theme is that any biological macromolecule must work together with other molecules to carry out its particular functions in the cell, and this depends on the ability of mole

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#### Annotation 1447019547916

 #biochem any biological macromolecule must work together with other molecules to carry out its particular functions in the cell, and this depends on the ability of molecules to recognize each other specifically

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two central themes underlying the concepts in this book. The first is that the function of a molecule depends on its structure and that biological macromolecules can assemble spontaneously into functional structures. The second theme is that <span>any biological macromolecule must work together with other molecules to carry out its particular functions in the cell, and this depends on the ability of molecules to recognize each other specifically. Clearly, to understand the molecular mechanism of any biological process, we must understand the energy of the physical and chemical interactions that drive the formation of specific s

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#### Annotation 1447021120780

 #biochem to understand the molecular mechanism of any biological process, we must understand the energy of the physical and chemical interactions that drive the formation of specific structures and promote molecular recognition

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ures. The second theme is that any biological macromolecule must work together with other molecules to carry out its particular functions in the cell, and this depends on the ability of molecules to recognize each other specifically. Clearly, <span>to understand the molecular mechanism of any biological process, we must understand the energy of the physical and chemical interactions that drive the formation of specific structures and promote molecular recognition<span><body><html>

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#### Flashcard 1447022693644

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#biochem
Question
A typical protein molecule is made from [how many?] amino acids.
~300

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A typical protein molecule is made from ~300 amino acids. Th e total number of different sequences possible for proteins of this length is 20^300 ≈ 10^390

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#### Flashcard 1447025052940

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#biochem
Question
A typical protein molecule is made from ~300 amino acids. Th e total number of different sequences possible for proteins of this length is [...]
20^300 ≈ 10^390

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A typical protein molecule is made from ~300 amino acids. Th e total number of different sequences possible for proteins of this length is 20^300 ≈ 10^390

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#### Flashcard 1447027412236

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#biochem
Question
A DNA molecule of this length (4.5 million) corresponds to [...] possible sequences
~10^2,700,000

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A DNA molecule of this length (4.5 million) corresponds to ~10^2,700,000 possible sequences

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#### Flashcard 1447028985100

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#python #scip
Question
The '=' symbol is called the [...] in Python (and many other languages)
assignment operator

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he = symbol is called the assignment operator in Python (and many other languages)

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1.2 Elements of Programming
= and a value to the right: >>> radius = 10 >>> radius 10 >>> 2 * radius 20 Names are also bound via import statements. >>> from math import pi >>> pi * 71 / 223 1.0002380197528042 T<span>he = symbol is called the assignment operator in Python (and many other languages). Assignment is our simplest means of abstraction, for it allows us to use simple names to refer to the results of compound operations, such as the area computed above. In this way, co

#### Annotation 1447030557964

 #python #scip A numeral evaluates to the number it names,

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eated application of the first step brings us to the point where we need to evaluate, not call expressions, but primitive expressions such as numerals (e.g., 2) and names (e.g., add ). We take care of the primitive cases by stipulating that <span>A numeral evaluates to the number it names, A name evaluates to the value associated with that name in the current environment. Notice the important role of an environment in determining the meaning of the symbols in expression

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1.2 Elements of Programming
rule is applied, and the result of that expression. Viewing evaluation in terms of this tree, we can imagine that the values of the operands percolate upward, starting from the terminal nodes and then combining at higher and higher levels. <span>Next, observe that the repeated application of the first step brings us to the point where we need to evaluate, not call expressions, but primitive expressions such as numerals (e.g., 2) and names (e.g., add ). We take care of the primitive cases by stipulating that A numeral evaluates to the number it names, A name evaluates to the value associated with that name in the current environment. Notice the important role of an environment in determining the meaning of the symbols in expressions. In Python, it is meaningless to speak of the value of an expression such as >>> add(x, 1) without specifying any information about the environment that would provide a m

#### Annotation 1447032130828

 #python #scip A name evaluates to the value associated with that name in the current environment.

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s to the point where we need to evaluate, not call expressions, but primitive expressions such as numerals (e.g., 2) and names (e.g., add ). We take care of the primitive cases by stipulating that A numeral evaluates to the number it names, <span>A name evaluates to the value associated with that name in the current environment. Notice the important role of an environment in determining the meaning of the symbols in expressions<span><body><html>

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1.2 Elements of Programming
rule is applied, and the result of that expression. Viewing evaluation in terms of this tree, we can imagine that the values of the operands percolate upward, starting from the terminal nodes and then combining at higher and higher levels. <span>Next, observe that the repeated application of the first step brings us to the point where we need to evaluate, not call expressions, but primitive expressions such as numerals (e.g., 2) and names (e.g., add ). We take care of the primitive cases by stipulating that A numeral evaluates to the number it names, A name evaluates to the value associated with that name in the current environment. Notice the important role of an environment in determining the meaning of the symbols in expressions. In Python, it is meaningless to speak of the value of an expression such as >>> add(x, 1) without specifying any information about the environment that would provide a m

#### Annotation 1447033703692

 #python #sicp Function names are lowercase, with words separated by underscores.

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Function names are lowercase, with words separated by underscores. Descriptive names are encouraged. Function names typically evoke operations applied to arguments by the interpreter (e.g., print , add , square ) or the name of the quantity that result

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1.3 Defining New Functions
(non-rebellious) Python programmers. A shared set of conventions smooths communication among members of a developer community. As a side effect of following these conventions, you will find that your code becomes more internally consistent. <span>Function names are lowercase, with words separated by underscores. Descriptive names are encouraged. Function names typically evoke operations applied to arguments by the interpreter (e.g., print , add , square ) or the name of the quantity that results (e.g., max , abs , sum ). Parameter names are lowercase, with words separated by underscores. Single-word names are preferred. Parameter names should evoke the role of the parameter in the function, not just the kind of argument that is allowed. Single letter parameter names are acceptable when their role is obvious, but avoid "l" (lowercase ell), "O" (capital oh), or "I" (capital i) to avoid confusion with numerals. There are many exceptions to these guidelines, even in the Python standard library. Like the vocabulary of the English language, Python has inherited words from a variety of contribut

#### Flashcard 1447041830156

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#electromagnetism #physics
Question
What is an example of a scalar field?
the distribution of temperature in a room, contour map

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So whereas the distribution of temperature in a room is an example of a scalar field, the speed and direction of the flow of a fluid at each point in a stream is an example of a vector field.

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#electromagnetism #physics
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Give an example of a vector field
speed and direction of the flow of a fluid at each point in a stream

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So whereas the distribution of temperature in a room is an example of a scalar field, the speed and direction of the flow of a fluid at each point in a stream is an example of a vector field.

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#electromagnetism #physics
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What is a vector field?
a vector field is a distribution of quan tities in space – a field – and these quantities ha ve both magnitude and direction, meaning that they are vectors.

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What’s a vector field? As the name suggests, a vector field is a distribution of quan tities in space – a field – and these quantities ha ve both magnitude and direction, meaning that they are vectors.

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In Gauss's law is the surface integral is applied to what?
In Gauss’s law, the surface integral is applied not to a scalar function (such as the density of a surface) but to a vector field.

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In Gauss’s law, the surface integral is applied not to a scalar function (such as the density of a surface) but to a vector field.

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#### Flashcard 1447052315916

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For individual segments with area density ri and area dAi , the mass of each segment is ri * dAi, and the mass of the entire surface of N segments is given by [...]