Medical Supply free essay sample

Consider a company that manages a network of hospitals across several counties in one state. Household incomes and the cost of living are higher in urban than rural areas. The company, however, has set the same prices for pharmaceuticals and services in all of its hospitals. It has also paid the same salaries for doctors, nurses, and other professional staff throughout the state. Assumptions: We assume that both, prices and salaries are set according to the cost of living of the region they are set for. This in mind and since prices and salaries of the hospital are equal in rural and urban areas, we assume that the management of the hospital network set prices and salaries according to the average of the living cost of rural and urban areas (= state average cost of living). Independent of how sophisticated the averaging of cost of living was, the average will always be higher than the cost of living in rural areas and lower than the cost of living in urban areas. We will write a custom essay sample on Medical Supply or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The supply of medical treatment, that is the capacity of a hospital, is inelastic as well as the number of positions necessary to supply the treatment. The number of hospitals does not change. Medical treatment refers to both, pharmaceuticals and services, and there combination. Deduction: The cost of living can be taken as price index, indeed is directly proportional to price. Question (a) Management has noticed that there are long waiting lists for treatment at its urban hospitals. Can you explain this problem? Supply and demand for medical treatment is shown in Fig. 1. The capacity of the hospital is fixed, that is the supply is inelastic. As already pointed out under the assumptions, the price for medical treatment in urban hospitals set by the management is according to the average cost of living of the state. Since we further assumed that the salaries of urban area population are according to the actual cost of living, we can also assume that the customer is willing to pay according to the higher cost of living in urban areas, hence, the price of medical treatment set by management is lower than the customer is willing to pay and leads to higher demand by the customers (see full demand curve in Fig. ). Since the hospital capacity is fixed, the higher demand causes a waiting list as shown in Fig. 1. An opposite effect could probably be seen in rural areas, where the price for medical treatment is high compared to the cost of living and could therefore lead to a lower demand as anticipated by the management. Fig. 1: Supply and demand for medical treatment in urban hospitals.

As both Jesus and John are parallels

As both Jesus and John are parallels, so are their characterizations. In the wee years around Jesus, the inconceived son of Joseph and Mary, basically came from nowhere, as the story goes. John Coffey also came from nowhere. Both Christ and Coffey are trying to save humanity, the young girls in the movie being a symbol of humanity. John Coffey could heal urinary tract infections. Jesus healed the lepers. Both men tried to teach tolerance through nonviolence. They didnt even retaliate to bad conditions or scenarios that they were in. The both sat there and their lives just went by. They both tried to express messages of love and sitting there. Love everyone you can. And if anything disagreeable happens just sit there. Unfortunately, it is probably better to be dead than just sitting there, so you might as well be dead. Thats probably why John Coffey wanted to go ahead and be killed as soon as possible. Jesus was similar in that fashion. He probably thought it was better to be dead than to be alive, because he didnt want other men to control hi! s life. Jesus was just a very calm, self-disciplined man who disagreed with the government of a corrupting society. He was killed for his beliefs. John Coffey on the other hand was killed by accident. He was thought to have premeditatedly killed the two girls. It was an accident to be found with them. Paul spread Jesus message, and Mr. Jangles carried the message of John Coffey. Jesus Christ and John Coffey were similar in their personalities and destinies, but there were slightly different motives behind their consequences.

The business of water Essay Example | Topics and Well Written Essays - 2000 words

The business of water - Essay Example This paper illustrates that since water companies began to be privatised, there has been an ongoing debate from both the political and social circles regarding the sustainability of private water companies. The debate has brought together political movements, labour movements and major corporations with each side having a conflicting opinion regarding privatising water services. There is a common pattern in developed countries regarding the improvement of water and sanitation services. In many countries across the world, water provision services began as early as the 17th century. However, such services were only used by people of a higher social class and state departments such as the fire brigades. The subsequent development of urban centres saw an influx of people towards cities thus creating a water crisis. Water ceased to become an incentive but a requirement for almost every household in the urban areas. Despite the fact that the previous water and sanitation services were oper ated by private entities, municipalities and urban councils took over the provision of water services to address the rising acute water shortage. France, however, maintained the status quo and private water companies continued to operate independently which explains why the largest water companies in the world are France’s Suez and Veolia. Those in support of municipalities taking over water and sanitation services argued that the state bodies had the ability to address the inefficiencies in water provision by private contractors.

My first Accident Essay Example | Topics and Well Written Essays - 500 words

My first Accident - Essay Example While reaching for the cell phone, I noticed that the car had lost its direction. I tried to maneuver the car by changing the direction to avoid landing into the trench. In the frenzy I accelerated the car instead of stopping it. Due to the momentum and added acceleration the vehicle soared approximately 30 feet and hit the Coca-cola signboard. It stopped 3 inches short of touching the utility lines. It was a moment when my life flashed in front of my eyes. My mind was unable to take what had just happened. Everything was hazy and blurred. The car was damaged beyond control and airbags saved any injury to me. To my relief no person was victimized in the accident. Help poured from everywhere. I called up the emergency number 911 and my Mom. The only one thing she cared was my safety and life. Her reaction calmed me especially when I knew that the car was beyond repair. The police took control of the site immediately. The paramedics rushed me to the hospital for a CAT scan as I had bumped my head. The cost of repairs exceeded 75% of the vehicle’s value, due to which it was declared as a total loss as per Alabama state law. Insurance agent declared the car as a total loss too. I learnt a valuable lesson from the incident. My parents had always warned me against the usage of cell phone while driving. The only thought that crossed my mind, was to thank Lord, for keeping me alive. I also learnt the value of love my parents showered on me. I had come so close in throwing my life away. The argument which compares usage of cell phone in the car to eating, smoking, drinking, changing the CD, adjusting temperature doesn’t justify. All are dangerous. Having a cell phone in the car may add to the sense of security for the driver and can get help faster in case of emergency. However the facility has led to more and more fatal accidents due to its inappropriate

Management Accounting Essay Example for Free

Management Accounting Essay Economists and accountants have diametrically opposite views of cost-volume profit (CVP) behaviour but only accountants have a CVP model that is appropriate for assisting management with decision making Ryan Bebbington Word Count 1796 Economists and accountants have diametrically opposite views of cost-volume profit (CVP) behaviour but only accountants have a CVP model that is appropriate for assisting management with decision making Cost volume profit analysis looks into the relationship between a firms fixed and variable costs and total revenues across a varying level of production. The model will give a predicted level of profit at a given level of production. There are many ways that CVP analysis can be useful for decision making, it is important to distinguish between the different applications of the Economists and Accountants interpretations, as well as other factors involved in decision making. CVP analysis is used in management decisions when forecasting production levels. To use this model effectively, Management will look at different scenarios of output, prices and costs, and see where the model predicts the firms revenues will cover its total costs. This point is known as the breakeven point. Management can investigate the effects of price increases, changing costs from fixed to variable such as salaries to commission based pay. Managers can also investigate the outcomes from decisions such as making components in house or buying in, retaining or replacing equipment and marketing decisions. They can also investigate the sales mix. By having a prediction of the effects of these variables, managers will be able to make better decisions, as they have more information. CVP is a simplified model and thus has limitations to its analysis and predictions. When managers are aware of the limitations and how to correctly use CVP analysis it can be a powerful tool. Managers must be aware that there are assumptions that are made to simplify the CVP tool, as it cannot truly model the real business, as it would be far too complicated. The economists interpretation of the CVP graph, Figure 1, is based on two main assumptions, which explain the shape of the cost and revenue curves. The first assumption, which affects the revenue curve is that the firm is competing on price competition, this means that in order to increase sales, the firm must reduce the marginal selling price of the product. This causes the firms revenue curve to level off, as the marginal revenue falls to à ¯Ã‚ ¿Ã‚ ½0, as in figure 1b. After this point the firm is selling at a negative price, causing the firms total revenue to fall. The second assumption is based on the firms cost curve, is based on economies and diseconomies of scale. The firms economies of scale cause the variable cost per unit to decrease as production increases, as in figure 1b. This can be due to any of the economies of scale, such as purchasing, where a discount for bulk buying is received, managerial, where managers can become more specialised, financial where the firm is offered lower interest rates as there is a lower risk of lending. The Total cost curve will level off as these increasing returns to scale cause the production to reach a level of most efficient output. After this the firm will experience decreasing returns to scale, as the plant is operating at a higher production level than it was designed for, causing problems in production, such as bottlenecks in the production line. This causes the average unit cost to increase again, giving the curve its shape. It is important to understand that Economists are trying to most accurately model real world situations, rather than create a tool for management decisions. The accountants CVP model, figure 2, is based on a simpler interpretation of the cost and revenue functions, this is because Accountants are not concerned with provided an accurate representation of the cost and revenue functions, instead they wish to display the relevant ranges, figure 3, of production for the firm. As this is the information that is used for short-run decision making, as this is the time frame where the information is most useful for management decision making, information for longer term decision making is required for board level decisions, to do with the long term objectives of the company. The information that the firm uses to produce its cost and revenue curves is extracted from previous operating costs and revenues, this ensures that the information is reliable. The Accountants cost function, is a straight line, which assumes that for each additional unit produced, a standard variable cost is incurred, the assumption that production will only be occurring in a relevant range means that the firms production will not alter enough to cause increasing or decreasing returns to scale. The Accountants interpretation of the fixed cost curve is different to the Economists view because it meets the Y axis at a higher point, which indicates that the Accountants believe that firms are committed to a higher minimum level of fixed costs. This is because although a firm may reduce its fixed costs to a lower level, as in the Economists interpretation, the firm can only do this by redundancies and shutting down plants. As the Accountants model only represents a relevant range, the fixed costs cannot be reduced to this level in the short run, when this interpretation is extended outside of the relevant range, a stepped fixed cost and total function will be seen, as in figure 3. The other difference is that the revenue function is linear. This is because in the short run, firms cannot change the price of their products easily; it may also be because of firms competing on non-price, rather than price competition. As Accountants make no attempt to extend the revenue function outside of the relevant range, there is no need to model the firms decrease in product price to increase demand. The Accountants interpretation of the Cost Volume Profit model is more appropriate for Management decisions, as management decisions are not concerned with long term information. This is because the Board of Directors will be making the firms long term decisions. The information that the Economists model provides, includes a lot of information outside of this relevant range, this will affect the reliability of the data in the model. The data in the model will be less reliable as it is more difficult to accurately predict the behaviour of the cost and revenue functions, outside of the relevant range, as it is not based on past sales data. It will also be more expensive to compile the information needed as it is a more complex model. It can also be argued that some managers will find it difficult to interpret the Economists model, as the information will be more complex. Managers may wish to extend the CVP model to cover longer term decisions, will need to be aware of the long term behaviour of fixed costs. In the long term, firms will have a greater control over fixed costs, they can expand capacity by increasing floor space, hiring more supervisors and upgrading or purchasing new machinery. Which will give the firms fixed cost line a step function. Other factors will also affect the firms revenue and cost curves, such as advertising strategies, changes in political, environmental, social, economical, and legal factors, such as a change in VAT rate. These factors cannot easily be planned for and are not easily shown in long term CVP analysis, which is the main reason that CVP cannot accurately model long term production. One of the features useful for decision making, is the ability to display the information in different methods, one of these is the Margin of safety. This is the difference between the expected sales and break even sales, expressed as a percentage of the expected sales. It shows management the level that sales can fall by before the companys revenue falls below the breakeven point. The information can also be displayed as two other charts. The first is a contribution chart, figure 4, in this chart, the fixed costs are shown as the difference between the variable cost line and the total cost line. The total contribution is displayed as the difference between the revenue line and the variable cost line. It is useful for showing a total contribution level at any level of output. The other presentation is the Profit volume graph, figure 5; this graph is useful because the other two charts to not directly display the profit at any given level of production as it must be calculated. The P-V graph simply displays the firms profit or loss at any given level of production. These two graphs will be useful for management decisions concerned with contribution or profits at a given level of production. Once again, the economists version of these two graphs would be far too complicated, and the information will not be reliable enough to base management decisions on. In the real world, firms will be producing multi products, and spreading the overhead costs across each of these products. A firm may wish to alter the CVP analysis to reflect their product mix. This is done by grouping production into batches. The batches revenue and variable costs will be defined as the total of the products in the batch. The values for the batch are then applied to the CVP chart in the same way as a single product. For the CVP model to be used effectively by managers, they must be aware of the assumptions made whilst preparing and gathering the information. If management are not aware of the assumptions made in the data, then they will be unable to draw relevant conclusions from the information. The assumptions i are that all other variables remain constant; there is a constant sales mix, total costs and revenues are linear functions of output, profits are calculated using variable costing, the analysis only applies to the relevant range, costs can be divided into fixed and variable elements, it only applies to the short term, and fixed costs do not change. In conclusion, the Accountants interpretation of the CVP analysis, as shown by the underlying assumptions, will allow managers to develop a more relevant understanding of the information, so that it can be used more effectively in decision making. If managers tried to use the economists CVP graph, the cost of gathering and interpreting the data would be high, as well as making the information more difficult to understand and less reliable. In the real world, the Accountants model may be considered too simplistic, as it relies on many assumptions and conditions, which are often not met. This is why it important to understand that the Accountants CVP model may not be applicable. For the CVP analysis to be effective, managers must be aware of the limitations of the model, otherwise they will be unprepared for any deviations from the outputs of the model.

Review Of ?Lawrence Of Arabia? Essays -- essays research papers

Review of ‘Lawrence of Arabia’   Ã‚  Ã‚  Ã‚  Ã‚  The movie Lawrence of Arabia had many interesting aspects about it and, according to sources, is very historically accurate. Taken place during WW with the feud between British and Turkish forces over the Suez Canal, the movie reflects a life of an individual who tries to do something about the injustice of the Arabian people. David Lean depicts Lawrence or El Lawrence as the tragic hero of the biography in order to make the story more enchanting to the reader.   Ã‚  Ã‚  Ã‚  Ã‚  Lean depicts Lawrence as the classic tragic hero by first making him of noble race. Lawrence himself is enrolled in the British army and is stationed at Cairo. Lawrence, however, dreams of bigger things and wishes to work with the Arabians first hand. Lawrence being the intelligent young officer with the big background is allowed by his superior to go and find Prince Feisel. Despite the fact that he is allowed to this because his superior can’t stand him, Lawrence moves out on a mission to find the prince. On the way to Arabia, Lawrence teams up with a tribesman to help him find his way. To his dismay, the guide is killed when they wonder into off-limits territory for the guide and the guide is killed by Sherif, a member of an opposing tribe of the guide. This strikes a feeling of injustice in Lawrence that will later lead to his tragic flaw. He finds his way to his other superior on the mission by himself and is...

Review Of ?Lawrence Of Arabia? Essays -- essays research papers

Review of ‘Lawrence of Arabia’   Ã‚  Ã‚  Ã‚  Ã‚  The movie Lawrence of Arabia had many interesting aspects about it and, according to sources, is very historically accurate. Taken place during WW with the feud between British and Turkish forces over the Suez Canal, the movie reflects a life of an individual who tries to do something about the injustice of the Arabian people. David Lean depicts Lawrence or El Lawrence as the tragic hero of the biography in order to make the story more enchanting to the reader.   Ã‚  Ã‚  Ã‚  Ã‚  Lean depicts Lawrence as the classic tragic hero by first making him of noble race. Lawrence himself is enrolled in the British army and is stationed at Cairo. Lawrence, however, dreams of bigger things and wishes to work with the Arabians first hand. Lawrence being the intelligent young officer with the big background is allowed by his superior to go and find Prince Feisel. Despite the fact that he is allowed to this because his superior can’t stand him, Lawrence moves out on a mission to find the prince. On the way to Arabia, Lawrence teams up with a tribesman to help him find his way. To his dismay, the guide is killed when they wonder into off-limits territory for the guide and the guide is killed by Sherif, a member of an opposing tribe of the guide. This strikes a feeling of injustice in Lawrence that will later lead to his tragic flaw. He finds his way to his other superior on the mission by himself and is...