Microeconomics Essay Example | Topics and Well Written Essays - 1500 words - 4

Microeconomics - Essay Example This is illustrated by the diagram below. c) In order to achieve a socially efficient level of coal gas mining, policies that promote the underground water system understanding, interconnectivity and the gas extraction and processing life cycle should be adopted. Secondly, policies that demand absolute scientific knowledge of the industry and its potential impacts on the society matter. These to enable a comparison of efficient coal power generation and the societal efficient production requirements to minimize the adverse effects on the society. a). The key most barrier to entry that would help to establish and keep Monsanto’s market power in the United States seed market is the patenting of the Monsanto seeds that prevents farmers from stocking other seed companies. The high cost of entry into the seed industry as a result of the high prices charged by Monsanto is another significant barrier to entry. New companies would find it very expensive to incur high entry costs that may be risky given the established Monsanto Company. The policies and the high prices are the significant barriers to the entry of other companies into the industry. b). If the United States Department of Justice investigations resulted in the cancellation of the Monsanto patents as an anticompetitive practice in the seed industry, a number of resultant effects would be experienced. Firstly, the level of competition in the US seed industry will most likely increase as more seed companies will be able to venture into the industry with reduced barriers to entry. The farmers will have a choice between varieties of the seed companies for their seed markets. Secondly, the supply of seeds is likely to increase with increased number of seed companies into the industry. As a result, the prices of seeds in the market will be driven down by the increased supply, and this would reduce the

Aesthetics and Experience Essay Example | Topics and Well Written Essays - 2000 words

Aesthetics and Experience - Essay Example Attfield (2000) suggests understanding culture through objects ‘acknowledges the physical object in all its materiality and encompasses the work of design, making, distributing, consuming, using, discarding, recycling and so on. But above all it focuses on how things have gone through all those stages as part of the mediation process between people and the physical world at different stages in their biographies’ (1-7). From this it is clear that objects can have multiple meanings. For example, a shaver may hold numerous positions in society. It holds its place in history as a social and cultural object, its history can trace the development of technology, there are now male and female versions of the shaver in most of its manifestations (manual, electric, etc.) and it has been designed to suit the lifestyle of the person that uses it as it is either plugged into the wall, carries a battery pack, is designed for travelling or is given a more aesthetic appearance for displ ay on the bathroom counter. Advertising, design and materials have been constructed to suit a particular market and durability has also been taken into account. All these factors are what make this and thousands of other objects what they are. How these elements function together to appeal to the individual’s personal sense of function and appearance is what is referred to as aesthetics. This term is most often used in the art world to designate important works of art. To understand these concepts better, I applied what I have learned about aesthetics to a specific photographic print entitled ‘Smutty’. In looking at photographs or other works of art, it is important to remember that what I may see as beautiful may appear quite different to another person. It is true that beauty lies in the eye of the beholder, as John Armstrong suggests. He says aesthetics is the process that ‘enables one person to