Economics Essay Example | Topics and Well Written Essays - 2250 words

Economics - Essay Example The short-run or long-run of one industry is often different from another. (Moffatt, 2011) A given firm’s costs may be reliant upon the time or period under consideration. Most of the decisions are fixed when a short-run time frame is taken into account and thus the long-run and short-run cost curves are different. Short-run costs and costs in the long-run are, however, related. For instance, a long-run average cost curve is more flat in comparison to a ‘U’ shaped short-run average cost curve. Short-run cost curves usually lie upon the long-run cost curves. Figure1. A graphical illustration of a short-run cost and a long-run cost curves Average costs LATC SATC1 SATC2 SATC3 Quantity Note: SATC stands for Short-run Average Total Costs while LATC stands for Long-run Average Total Costs. Short-run Average Total Costs of a firm differ from the Long-run Average Total Costs since the fixed costs in the short-run can be varied over the long-run. (Mankiw, 2008 p256) In the case of an operator of a port, cost efficiency occurs efficiency occurs where the throughput is made available at the lowest cost possible with resource-prices paid by the operator put into consideration. The economic cost of a port is represented by the relationship depicted by minimum costs of handling any given throughput levels. Over the short-run time period, there must be at least one of the port resources that should be fixed with regards to amount. For example, the buildings or the wharf of a port are some of the resources that cannot be varied in the short-run period. Unit costs in relation to a port’s costs are usually compared by dividing them with their throughput amounts. Figure 2: A graphical presentation of Short-run Total Costs, Short-run Variable Costs and Short-run Fixed Costs. That is; STC, SVC and SFC. Cost STC SVC SFC Port throughput Figure 3: Average costs in the short-run Cost per unit SATC SAVC SAFC Port throughput Note that SATC stands for Short-run Average Total Costs, SAVC for Short-run Average Variable Costs and SAFC for Short-run Fixed Costs. Short-run average total cost is gotten by dividing short-run total cost with throughput. On the other hand short-run average fixed cost is the short-run fixed costs divided by the throughput and short-run average variable cost is short-run variable cost divided by throughput. Average fixed cost reduces in a continuous manner as the level of throughput rises; that is, since a fixed cost continues to be divided by bigger and bigger amounts of throughput of the port. As the amount of throughput rises, average variable cost as well as short-run average cost reduce initially, get to a minimum and afterwards rise. In the port’s long-run, the costs in whole are variable. Therefore, long-run total costs that are incurred by the operator of the port of the port for the given throughput amounts are a total of variable costs. Long-run average total costs are equal to long-run total costs d ivided by total port’s throughput. A long-run average total cost curve has a negative slope for a given range of throughput and then it starts to increase. Figure 4: Long-run Total Cost curve and a Long-run Average Total Cost Curve. cost port throughput cost per unit LATC Port throughput (Talley, 2009 pp98-100) A convenience store is usually a type of retail business. Costs of a convenience store that maybe short-run may include costs of

Human Trafficking Case Study Research Paper Example | Topics and Well Written Essays - 1250 words

Human Trafficking Case Study - Research Paper Example Men are also very susceptible for trafficking. They are mainly trafficked by worldwide criminal organizations. There are several cases in which human trafficking takes place. Some of the cases are whereby people are convinced into going to other countries with the promise of getting better jobs and comfortable lives. Mostly, it always turns out to be untrue. This context discusses hundreds of workers from Thailand being promised high wages by the California based company named Global Horizons Inc and instead paying them little to nothing while treating them like scum, taking their passports on arrival and threatening deportation (Bureau of National Affairs, 2007). Human trafficking is one of the most dangerous forms of discrimination. Thailand experiences major challenges as a source, passage and destination country on human trafficking mainly women and children. The tendency of trafficking for enforced labor is rising in level in the agricultural, construction and fishing organizati ons. Human trafficking is a modern correspondent of slavery (Crawford, 2009). Opposing their will, thousands of people around the globe are enforced to work for the benefit of other people. For instance by becoming beggars, prostitutes, working in sweatshops, unintentional servitude or even turning into child soldiers. People that are trafficked are usually enslaved or in circumstances of debt oppression that are deceitful and oppressive. Traffickers will carry away or mistreat the fundamental human rights of their victims, who most possibly have been tricked and enticed by fake promises or physically enforced into their circumstances. Trafficking is a regular practice to convince people to leave their homes and move to neighboring countries that are wealthier where they can work in services like domestic services, adult care or waiter and waitresses in restaurants. Upon advent, their passports, visa, and return permits are taken away from them, efficiently; these people are impriso ned, either bodily or financially or psychologically. The trafficked people are made to labor as household slaves or as agricultural or industrial unit workers, in slave-like circumstances. The trafficked people virtually do not see their money that they earn, and finally they are sold. Because every person wants to have a good life, people get easily lured when being promised a good life, which in turn never comes to be true and instead they turn out to be slaves when they are taken to the foreign countries. Once passports and other legal documents are taken from these people, they become helpless since they are threatened in several ways. There are various causes for human trafficking. People around the world, benefit in satisfaction and in price of mistreating others. Poverty and worldwide inequalities in the rule of law are situations in which human trafficking, like HIV/AIDS and other killers of the underprivileged, thrives. In regions of the world that are poorer where learnin g and employment chances are inadequate, are the most susceptible in society. Runways, immigrant, or people who are displaced are the most frequent sufferers of human trafficking. People who are looking for chances and access to other countries may possibly be taken by traffickers and deceived into believing that they will be liberated subsequent to being smuggled across the boundary. Global Horizons Inc is farm labor contractor which is Beverly Hills California based. Global Horizons is challenged to have engaged in a pattern or performance of