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Insects are the only invertebrates to have developed active flight capability
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Insect - Wikipedia, the free encyclopedia
ns, criss-crossing each other in a sandwich pattern, while the exocuticle is rigid and hardened . [ 22 ] :22–24 The exocuticle is greatly reduced in many soft-bodied insects (e.g., caterpillars ), especially during their larval stages. <span>Insects are the only invertebrates to have developed active flight capability, and this has played an important role in their success. [ 22 ] :186 Their muscles are able to contract multiple times for each single nerve impulse, allowing the wings to beat faster




#finance #inflation #inflation-derivatives #inflation-derivatives-barcap
While inflation derivatives are not new and Barclays Capital has traded inflation swaps for more than 10 years
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Flashcard 1430663335180

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #study-session-4-microeconomics-analysis
Question

By now it should be clear that economists are [...] builders

Answer
model

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1. INTRODUCTION
By now it should be clear that economists are model builders. In the previous reading, we examined one of their most fundamental models, the model of demand and supply. And as we have seen, models begin with simplifying assumptions and then find







Flashcard 1431655550220

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4
Question
the MRSBW is the negative of the slope of the tangent to the indifference curve at any given bundle. If, at some point, the slope of the indifference curve had value –2.5, it means that, [...] at the rate of 2.5 ounces of wine per slice of bread.
Answer
starting at that particular bundle, our consumer would be willing to sacrifice wine to obtain bread

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the MRS BW is the negative of the slope of the tangent to the indifference curve at any given bundle. If, at some point, the slope of the indifference curve had value –2.5, it means that, starting at that particular bundle, our consumer would be willing to sacrifice wine to obtain bread at the rate of 2.5 ounces of wine per slice of bread.

Original toplevel document

3. UTILITY THEORY: MODELING PREFERENCES AND TASTES
early as much wine to obtain a little more bread. This suggests that the value being placed on bread, in terms of the amount of wine the consumer is willing to give up for bread, diminishes the more bread and less wine he has. It follows that <span>the MRS BW is the negative of the slope of the tangent to the indifference curve at any given bundle. If, at some point, the slope of the indifference curve had value –2.5, it means that, starting at that particular bundle, our consumer would be willing to sacrifice wine to obtain bread at the rate of 2.5 ounces of wine per slice of bread. Because of the convexity assumption—that MRS BW must diminish as he moves toward more bread and less wine—the MRS BW is continuously changing as he moves along his indifference curve.







Flashcard 1442968112396

Tags
#gramatica-española #tulio
Question
La sintaxis estudia la [...], su unidad máxima.
Answer
combinatoria de las palabras en el marco de la oración

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La sintaxis estudia la combinatoria de las palabras en el marco de la oración, su unidad máxima. Entre el morfema y la oración, unidades mínima y máxima, respectivamente, del análisis gramatical, se ubican la palabra, unidad compartida por ambas partes, y la

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ibro no es segmentable en partes que preserven la dualidad entre sonido y significado: es una palabra simple. En cambio, libro-s, libr-ero, libr-ito contienen cada una dos formantes. La morfología detiene su análisis al llegar a la palabra. <span>La sintaxis, a su vez, estudia la combinatoria de las palabras en el marco de la oración, su unidad máxima. Entre el morfema y la oración, unidades mínima y máxima, respectivamente, del análisis gramatical, se ubican la palabra, unidad compartida por ambas partes, y las unidades intermedias, los sintagmas, construcciones como el libro, mi viejo libro de gramática, muy interesante, lejos de la ciudad, leer detenidamente. La gramática tradicional centró su estudio en la palabra y su clasificación ("las partes de la oración"), por lo que estuvo más cerca de la morfología que de la sintaxis







Flashcard 1447118376204

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
Second aproach to calculate the point of profit maximization.

A business increases profit through greater sales as long as [...] of output sold.
Answer
per-unit revenue exceeds per-unit cost on the next unit



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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

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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







#london #paris #trip

Friday, May 26, 2017:

US Air from Newark leaving at 9:30PM. Anthony is driver using 333-3333 taxi service. Slob. Shirt hanging out. Tooth cleaner on dashboard. Car smelled. Old van. I barely fit in the front seat because he had the radio for recording the time/cost mounted in next to my leg. His daughter is a teacher.

Saturday, May 27, 2017:

  1. in London at Heathrow Airport at 10:00 AM London (5 hours ahead of Trenton, NJ). Part of the year is GMT, part is GMT+1. In May, it is GMT +1. Purchased Oyster Cards to use tubes and buses. Went to Marriott Hotel of Kensington at 147c Cromwell Road, Kensington London, England SW5 0TH United Kingdom. Raj of Kensington to eat Lunch RAJ OF KENSINGTON 1 ABINGDON ROAD LONDON W8 6AH. Indian Food. Took Bus to National Gallery and Trafalgar Square. Commemorates Battle of Trafalgar from Napoleonic wars in which British Naval Victory was obtained by Nelson over Napoleon in 1805. Also later site for Bloody Sunday in 1887. Then walked through Admiralty Arch and by Westminster Abbey. Saw wedding at Westminster Abbey. Crowd came to us (trying to get out while we are trying to get in). We went into Westminster Abbey school area. It is through high school. Then went to Orange Elephant for Dinner. Devonshire grass fed beef.

Sunday, May 28, 2017:

Tower of London (built by William the Conqueror around 1000 AD), Beefeaters (test food for King, got paid in meat, now they are all retired military personnel, ours lived on site), lunch at Tower, then Churchill Museum (troublesome child of prominent parents, father a Lord politician; became a prisoner of war in early british war in bornea, launched political career; fought in World War I, then became Prime Minister in World War II, note that 10 Downing Street is the “residence of the Prime Minister” – Number 10, whereas 221B Baker Street is fictional residence of Sherlock Holmes) then back home and went to Indian Food (Bangladesh). Not memorable Indian Food

Monday, May 29, 2017:

Buckingham Palace. Walked over Tower Bridge.

River Thames Cruise

Gourmet Burger then trip to St Pauls that failed. Then returned home and went out to see Kensington Palace followed by trip to Whole Foods. Ellen and rest ate Italian. I went with Michael to get ice cream at Oddono’s after getting Dal Tadka at Bombay Palace.

Tuesday, May 30, 2017:

Paris all day. Sacre coeur (Church of the Sacred Heart). Champs Elysee ate at Vesuvio Ristorante Italian. Arc de Trioumphe by Napoleon. Eifel Tower. River Sienne. Notre Dame. Then Brassierie.

Wednesday, May 31, 2017:

Went to St Paul’s in the morning by Sir Christopher Wren, with Admiral Horatio Nelson (died in famous sea battle victory for Britain against Napoleon) in crypt and Statue of John Donne near American Chapel in rear of church. Met Father Duncan for 1 hour personal tour. Then went to Kingly Court at the Rum Kitchen and had Jerk Chicken. Then to London Bridge Crossing Stop and walked to Borough Market then down to Shakespeare Globe Theatre. Then went to Oddono’s for ice cream.

Thursday, June 1, 2017:

  1. and Albert in the AM. Lamb burger from Gourmet Burger in Earls Court. Then to Oxford (Christ Church and Great Hallway for Harry Potter and Merton College School of Music). Oxf
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So the third debate about culture is about issues of national and social identity in a world of rapidly changing demographics and where computer technologies and global television have increased the gap between generations.
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