Answer:
1. Inside the dorm room, the movies are <em>Non-Rival</em> which means that one person can watch the movie and it will not diminish the ability of others to watch as well.
Also as they are all in the same dorm, the showing of the movie is <em>Non-Excludable</em> as well because no one can stop the other from watching.
Public good is both Non-Rival and Non-Excludable so the showing of a movie IS a public good.
2.
Musashi Sean Bob Eric Total Willingness to pay
10 9 8 3 30
8 7 6 2 23
6 5 4 1 16
4 3 2 0 9
2 1 0 0 3
The optimal number of movies that can be rented is dependent on their total willingness to pay. If their Total willingness to pay for the movie is above $8 which is the cost of a movie, then they will get it. From the table, the fifth movie is below the price of $8 so they <u>should rent 4 movie</u>s.
3. If they rent 4 movies and there are 4 of them then the cost per person is;
= (8 *4)/4 people
= 24/4
= $8
This means that each roommate will pay <u>$8</u>.
Performance appraisal is used to compare employee performance against some standards. The steps in the performance appraisal process are;
- 1. Establishing Performance Standards
- 2. Communicating Standards
- 3. Evaluating Performance
In the performance appraisal process, the supervisors will first establish the standards that will guide the operations of employees.
Next, they should inform the employees of those standards. They should examine the performances of their employees and make decisions on whether they performed well or not.
Then, they should discuss the results with them and take action on whether to reward or punish them.
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Globalizationvery useful for health insurance to take advantage of medical tourism, medical tourism is traveling
D. All of these can be changed in the long run
