Pricing Techniques Assignment Example | Topics and Well Written Essays - 250 words

Pricing Techniques - Assignment Example Elasticity of demand for a service or good is lowest when demand is highest (at peak) and the contrary is true. Price, therefore, depends on demand elasticity. An example of peak load pricing is the case of electricity. During peak, there are uses of power stations that exhibit the lowest cost of operations. Coal-fired stations exhibit low cost of operations and, therefore, most preferable during off-peak demand. Gas and oil-fired stations that have high operations costs are used during peak demand. The marginal cost of electricity production using gas and oil-fired is higher than using coal-fired stations. Peak load pricing principles are developed for the profit-maximizing firm, which is the subject to one or three methods of regulatory constraints (Knieps, 2015). Peak load pricing techniques has a substantial effect on the distribution of price reductions between the peak and off-peak users. Under regulation limiting rate of return on capital investment the price reduction are received mostly by peak-period users. In contrast, when regulation limits profit per unit or returns on cost, there are price reductions for all

Education in britain Essay Example | Topics and Well Written Essays - 750 words

Education in britain - Essay Example ey have a high standard of teaching, and efficient facilities that improve on the quality of teachings conducted by these institutions (Clughen, 2012). On this basis, almost every student who passes through private schooling will qualify for a place in some of the British prestigious institutions. In Britain, it is mandatory for girls and boys to attend full time learning until they reach the ages of 16 years. However, majority of students stay at school after the ages of 16 years for purposes of preparing themselves to attend university education, or for purposes of advancing their careers. In private schools, students usually finish their education when they reach the ages of 18 years, and almost all these students usually qualify to attend a university education at a prestigious university institution (Clughen, 2012). In 1988, Britain introduced a national curriculum whereby all schools that are funded by the state must follow (Smith, 2012). This national curriculum targets students who are of ages 5 to 18 years old. However, it is not mandatory for private school institutions to follow this curriculum. But, these private institutions have to prove that they offer an all round education system, and therefore, they are inspected on a regular basis. At state schools, every year of study has a number, for instance, primary education begins with year 1. Secondary education on the other hand begins with year 7, and majority of students begin their secondary education when they are of ages 11 years. However, in some private schools, children begin their secondary education when they are of age 13 years that is in year 9 of their studies. At the end of the fourth key stage that is in year 11 children usually take a series of examinations referred to as the GCSE. This examination usually comprises of between 8 to 10 subjects, and these subjects include Mathematics, English, Science, Religious studies, etc. At the fifth key stage, students usually take an advanced