Thursday, August 27, 2020

In Todays Modernized World, There Seem To Be Several Luxuries That We

In the present modernized world, there appear to be a few extravagances that we can not live without. In an enormous metropolitan region, for example, Los Angeles, vehicles and the gas that energizes the vehicles are an unquestionable requirement. So what might happen when the main and number two oil organizations in the United States chose to combine? The arrangement itself would be worth 75.3 billion dollars, making the new Exxon Mobil one of just two significant fuel suppliers alongside Royal Dutch/Shell until the merger between British Petroleum and Amoco Corp. is endorsed. For Exxon and Mobil, they would be sparing over 2.8 billion dollars in close to term reserve funds alone, approach more assets then they would have independently (which means an outward move in their flexibly of fuel), and more grounded advertise power then previously. The most unmistakable worry that our legislature would have is the last change- - exactly what amount more market force would this new company have? Since gas and fuel items are as of now at a by and large inelastic interest, any descending movement in amount provided even with gracefully moved outwards would just expand the company's benefits with the buyers frail to stop it. Indeed, even with a second or third rival in the fuel business, this market would in any case be monopolistically seri ous. Exxon and Mobil realizes that they can charge beneath the flexibly and request balance to their benefit, and would just be provoked to move amount provided back close to balance just if a contender like Royal Dutch/Shell keeps on selling at the market harmony. It may be wasteful (having a dead weight reduction) by selling underneath the market cost, however it would be beneficial. Tragically, in this common assets showcase, passage isn't simple. To be even a minor contender, one must experience the problem of getting the land with the assets, gear to extricate and to refine these assets, lastly dissemination of the last item. This clearly requires a lot of capital and talented work in the first place, making the new sections about incapable as to changing the yield of gas. For Royal Dutch/Shell and different contenders they would trust Exxon Mobil would deliver with overabundance limit, they would then have the option to coordinate Exxon Mobil's creation so all organizations in the fuel market would sell underneath balance, and each firm would appreciate higher benefits at the buyers cost. In any case, if Exxon Mobil concludes that with its new plenitude of assets, Exxon Mobil can deliberately move amount gracefully outward. Despite the fact that Exxon Mobil would make less benefit, the shoppers would now be incited to purchase Exxon Mobil gas rather than some other. The couple of rivals in this market would need to endeavor to coordinate Exxon Mobil's lower valuing or be come up short on business. Despite the fact that all organizations would be enduring, since Exxon Mobil has the most assets, they would outlive every other person. This is the sort of market power that our administration wishes to forestall. On the purchaser side, if the merger is permitted, there could be a slight increment in gas costs over the long haul. Except if Exxon Mobil chooses to attempt to force different contenders to leave business, at that point the shopper would encounter a distinct decline in costs for gas in the short run, yet an incredible increments in cost over the long haul ought to Exxon Mobile succeed and turn into the main significant firm contribution to sell gas. In any case, a merger would not be for the better for us, the purchaser.

Saturday, August 22, 2020

Unbroken Essay Research Paper Unbroken I free essay sample

Whole Essay, Research Paper Whole I wouldn # 8217 ; t cognize how to portray an image or a sonata, yet I can state individual how I feel, however they only from time to time realize what I mean. Wordss bomb me much of the time, be that as it may, figure takes note. They aren # 8217 ; t tuning in at any rate. One individual knows me. At the point when I converse with him I feel like a blade in a cabinet, in light of the fact that my words have power. The conceivable mischief would be unsalvageable. He and I resemble a house self-destructing. Our asphalt is amiss and our letter box is losing. It is painted pink and xanthous. We love it, it # 8217 ; s exceptional. Last dim I stepped my pess through the planks of flooring since I needed to encounter my toes in the Earth. I pushed my guardianships through the roof and kicked down the dividers. I cognize he asks why I do things like that. I simply needed to permit some air in. We will compose a custom exposition test on Solid Essay Research Paper Unbroken I or then again any comparative point explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page I stated, # 8220 ; Look hon, presently we can see the stars. # 8221 ; He forgot about the residue and set me to bed. He won # 8217 ; t kip today around evening time. His thoughts keep awake with the Moon trying to apply the villains in his head. Excessively keen, unnecessarily strict for his ain harmony. A cleric specialist, unstuck in cut. An injection of driving force and a smack despite this universe. Continuously eager, looking for answers. Imprudent and motivated, creating down his thoughts. Amusing stories about Elvis and his followings, the Elvi, or dirtied poesy. Painting his dreams on sheets that dangle from the overhang or painting me with hallucinogenic plans. It doesn # 8217 ; t issue which. Every last bit of it makes me want him more. A few things I state to him resemble rank notes played too much often. I # 8217 ; m out of tune. He ever chimes in. Our stroll in is superior to most, I assume. We cognize the stairss by chest. The universe moves quickly around us and our calm bibulous stride, yet we wear # 8217 ; t consideration. Our heads move quickly in spite of Thursdaies is world’s junior-grade interruptions. It # 8217 ; s us and them, and we # 8217 ; re the solitary two normal individuals left. He makes me apprehensive, still. His fantasies are greater than the two of us. When we express the words pre-winter from my lips. They aren # 8217 ; t satisfactory to elucidate who I need to be. I am so imperfect. He says, # 8220 ; Sometimes individuals have imperfectnesss that are meriting populating with. You # 8217 ; re a little unusual. It # 8217 ; s bit of your appeal. # 8221 ; This grown-up male knows me, and adores me in any case. He is crazier than I am. Eight mature ages may each piece great be where we # 8217 ; rhenium concerned. History has roots that dive deep. They go to the focal point of the Earth and back and wrap around recollections that will neer pine away. Pictures of him consume into my head. Dreams of him cautiously look to equilibrate me on the tip of his finger, yet it # 8217 ; s too much precarious and I ever fall. I snicker when I gaze toward him, appreciative to be sitting on the floor. I compose terrible poesy all the clasp for him. I # 8217 ; m more grounded with a pen in my manus. My head turns with thoughts that resemble downpour, I can # 8217 ; t get them all. I wish I would, I be able to feel a drouth coming. I # 8217 ; ll filter out the muss hence. Right presently I have buckets to make full. Our rooftop is spilling, it # 8217 ; s so supporting. You I dream a fantasy of better things what's more, minutes yet to be. In my mind you wait. Keep my manus, move with me in the blossoms, they develop, so delightful, like us, so fragile. They twist in the breeze, I curve my dorsum. Would you be able to encounter me? We interface in opportunity, renunciation in adoration. Accompany me, in this life, in this fantasy. Murmur in the moonshine. Shout in obscurity. Move in my beat. Let me experience your music.

Friday, August 21, 2020

Essay on the Topics the Need For Gun Control

Essay on the Topics the Need For Gun ControlA comprehensive, informative essay on the topics the need for gun control is essential to convince and persuade those who oppose the measure. It is not that easy to understand the point and causes of these measures, especially when you are a law-abiding citizen who owns guns. We all know that we should have the right to own a gun in order to protect ourselves and others from harm, but the question is how many people have guns.The essay on the topics the need for gun control should have strong arguments and good arguments that prove your point. You should not just tell the truth but also add to the arguments you make.The essay should also be able to demonstrate how the possession of firearms are a bigger threat to society than the possession of illegal drugs. You should have the information that how their use can be dangerous. The use of firearms can be considered as an arms race and thus cause other issues as well.A good essay on the topics the need for gun control should be able to have a precise definition of 'gun'firearm.' The definitions should be precise to the point of being scientific. This way, you will be able to solve the problem that what type of weapon is prohibited to have.This is one of the most difficult things to do. The guns are now small and portable and we are able to use them in order to defend ourselves or just to hunt. It is not so easy to define the weapon, because there are lots of weapons and it is really hard to find the exact one.Statistics show that there are more people who do not like these weapons and the use of them, and therefore they are using their power to propose new laws for the control of the possession of the weapons. For example, some people oppose the use of 'assault rifles'. Therefore, we have to find a way to define the right to have these weapons in a safe way.You have to avoid going for the controversial side of this topic in order to avoid some serious issues. The essay o n the topics the need for gun control should be written for people who understand the subject and their way of thinking and feelings. If you write in such a way that it will be more understandable by your readers, they will appreciate you for it.By doing this, you will be able to convince people who support the control of gun ownership. If you wish to argue, you should be able to prove the point that these weapons are not only used for hunting, but also to kill and injure other people.

Monday, May 25, 2020

Case Study Edu 520 - 775 Words

Case Study – Assignment # 1 Search of Student Involving Protruding Object. Chapter 3 – p. 99 Jim Robinson is a tenth-grade teacher. While walking down the hall, he spotted a suspicious object protruding from a student’s pocket. He asked the student to empty his pocket but the student refused. Discussions questions: 1. Does the teacher have grounds to make such a request? No, he does not. The teacher has grounds to inform immediately to the school officials about the situation that he has observed. In this scope, the teacher’s information constitutes a reasonable suspicion, which is reliable by school officials. 2. Does the student have the right to refuse to obey the teacher’s request? I believe that since students enjoy†¦show more content†¦Corporal Punishment over Student’s Objection - Chapter 3, p. 100 Carl Palmer, principal of Carbondale Middle School, became very upset with Walter Johnson for being disrespectful to several of his teachers. Palmer explained to Walter that because of his actions, he, Palmer, must administer corporal punishment based on school policy. As the principal proceeded to get his instrument to administer the punishment, Walter told him that Palmer was not going to hit him with anything. Other students, faculty, and staff in the outer office heard him say this. Discussions Questions 1. What is the dilemma facing Palmer? I believe that the dilemma is simple: a student challenges the school official authority. I said simple because not for the dilemma’s complexity rather for the regularity with which a young behave in a rebellious manner. 2. Should Palmer proceed with his plan to administer the punishment? Why or why not? No, he should not. The corporal punishment should never be administered when the child presents resistance. However, in case that he proceed with his plan, the reasonable administration should be based in the gravity of the offense. Moreover, school officials should provide student’s punishment options for deviant behavior instead the corporal punishment. 3. Does the student have the right to decide his punishment? The student does not have the right to decide his punishment. The school official inShow MoreRelatedA Christian Worldview Of Common Core Standards1350 Words   |  6 PagesKlinger EDU 520: Bishop Current Issues WebQuest: Session 4 A Christian Worldview of Common Core Standards Common Core standards at a national level, assist the education system by the establishment of academic expectations that students must satisfy to continue to the next grade level or graduate from high school, no matter the state or school district. With a set of standards, consistency occurs because all students’ are held to meet the same standards skill in their academic studies. Why,Read MoreBrand Audit Examples10459 Words   |  42 Pagesunderstanding of how large organisations develop line extensions of their brands and to present guidelines for management when considering an upscale line extension. Design/methodology/approach – A qualitative research technique was used in this study. It involved case study research in the beverage industry, where 11 senior marketers were interviewed in depth. Findings – A line extension into premium categories was seen to be an effective strategy to revitalise a brand. Respondents also stated that the line Read MoreMedicare Policy Analysis447966 Words   |  1792 Pagesand Commerce, and in addition to the Committees on Education and Labor, Ways and Means, Oversight and Government Reform, the Budget, Rules, Natural Resources, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned A BILL To provide affordable, quality health care for all Americans and reduce the growth in health care spending, and for other purposes. 1 Read MoreManaging Information Technology (7th Edition)239873 Words   |  960 Pages CONTENTS: CASE STUDIES CASE STUDY 1 Midsouth Chamber of Commerce (A): The Role of the Operating Manager in Information Systems CASE STUDY I-1 IMT Custom Machine Company, Inc.: Selection of an Information Technology Platform CASE STUDY I-2 VoIP2.biz, Inc.: Deciding on the Next Steps for a VoIP Supplier CASE STUDY I-3 The VoIP Adoption at Butler University CASE STUDY I-4 Supporting Mobile Health Clinics: The Children’s Health Fund of New York City CASE STUDY I-5 DataRead MoreHbr When Your Core Business Is Dying74686 Words   |  299 PagesExecution Donald N. Sull and Charles Spinosa 90 The Leadership Team: Complementary Strengths or Conï ¬â€šicting Agendas? Stephen A. Miles and Michael D. Watkins 100 Avoiding Integrity Land Mines Ben W. Heineman, Jr. 20 33 FORETHOUGHT HBR CASE STUDY Why Didn t We Know? Ralph Hasson 45 FIRST PERSON Preparing for the Perfect Product Launch THOU SHALT †¦page 58 James P. Hackett 111 TOOL KIT The Process Audit Michael Hammer 124 BEST PRACTICE Human Due Diligence DavidRead Morepreschool Essay46149 Words   |  185 Pagesalong a pathway of learning and healthy development. All 50 states have either developed preschool standards or are in the process of doing so. Many states have aligned early learning standards with their kindergarten content standards. In most cases, those alignment efforts have focused on academic content areas, such as English–language arts or mathematics. In California, priority has been placed on aligning expectations for preschool learning with the state’s kindergarten academic contentRead MoreQuality Improvement328284 Words   |  1314 Pagesengineers, manufacturing and development engineers, product designers, managers, procurement specialists, marketing personnel, technicians and laboratory analysts, inspectors, and operators. Many professionals have also used the material for self-study. Chapter Organization and Topical Coverage The book contains five parts. Part I is introductory. The first chapter is an introduction to the philosophy and basic concepts of quality improvement. It notes that quality has become a major businessRead MoreProject Managment Case Studies214937 Words   |  860 PagesPROJECT MANAGEMENT CASE STUDIES, SECOND EDITION - PROJECT MANAGEMENT CASE STUDIES, SECOND EDITION HAROLD KERZNER, Ph.D. Division of Business Administration Baldwin-Wallace College Berea, Ohio John Wiley Sons, Inc. This book is printed on acid-free paper. @ Copyright O 2006 by John Wiley Sons, Inc. All rights reserved. Published by John Wiley Sons, Inc., Hoboken, New Jersey Published simultaneously in Canada No part of this publication may be reproduced, stored in

Friday, May 15, 2020

Illegal Immigration Is The United States - 1541 Words

Illegal immigration is one of the United States’ most controversial subjects. Many Americans strongly believe that people who come across the border illegally without proper documentation should be deported instead of be given the chance to become a citizen of one of the most highly privileged and profitable countries in the world. They think that illegal immigrants are exploiting the system and taking money that belongs only to U.S. citizens. However, opposing viewpoints would argue that illegal immigration is beneficial to the economy of the United States because of the fact that there is additional tax revenue, an increase in low-cost labor and also an increase in money circulation. This (Illegal) American Life brings up both sides of†¦show more content†¦Ilse had a dream of going to college at UCLA since she was in the fourth grade when she first saw the university. She knew, however, that she would face many obstacles while trying to earn a college degree. Some o f the obstacles she faced were not being able to get a social security card, a driver’s license, and financial aid to help pay for college or a job unless the employer would pay in cash. While attending college, Ilse lived with a group of fellow undocumented students who faced the same tough situations as hers. Not only were there many undocumented students in college, there were also just as many if not more high school students. There are actually approximately sixty five thousand students who graduate high school that are undocumented. (Van Zeller and Mariana 2011) Ilse was shocked when she discovered the intensity of hate that many Americans had for people like her. She did not understand how people could have so much hatred for others who were just trying to make a difference and become a positive contribution to the country. Despite these obstacles, she and her friends proved to be â€Å"undocumented yet unafraid† and were willing to stand up and voice their opinions concerning their place in the United States. She, as well as thousands of other immigrants who were undocumented, sought out change. Ilse as well as approximately two million other undocumented students came very close to gaining their very own citizenship with the

Wednesday, May 6, 2020

Sigmund Freud And Carl Jung - 1949 Words

Sigmund Freud and Carl Jung are two of the world’s greatest historical personality theorists who studied the conscious and unconscious states of mind (Friedman Schustack 2011). Most importantly they worked together and built a friendship until their friendship was severed, and Carl Jung broke away from Sigmund Freud. There are allegations that their relationship was broken because of their disagreements pertaining to differential views of developmental psychology and individual personality theories (Friedman Schustack 2011). The psychoanalytic approach to psychology, founded by Sigmund Freud in the nineteenth century influenced other approaches to this theory that later disregarded Freudian theory altogether creating tension amongst theorists and opened up the research for skepticism and criticism (Carter 2011). There are many similarities in their theories and it becomes difficult to interpret these differences. The focus of this paper is to dissect both theories and highl ight the similarities and differences while putting focus on Jungian theory, how it has become adaptable into modern psychology while analyzing the aspects that make it especially different in comparison to Freudian theory. There are different aspects to both theories that differentiate, however, for the purpose of this paper, the focus will be on the comparison and contrast of the theories in regards to the unconscious and conscious states of mind, analysis and interpretation of dreams, sex andShow MoreRelatedSigmund Freud and Carl Jung1331 Words   |  6 PagesSigmund Freud and Carl Jung Sigmund Freud and Carl Jung begun their relationship in 1906, when Carl Jung sent Freud a copy of his signed published studies, But Jung did not know that Sigmund Freud actually already owned a copy (well-Documented). Jung looked up to Freud and saw him as a father figure (well-Documented). Freud became Jung’s Mentor. In 1909, Freud and Jung toured the United States, and this is were they had a few disagreement on the unconscious mind. Jung thought Freud was negativeRead MoreCarl Jung and Sigmund Freud1412 Words   |  6 PagesCarl Jung and Sigmund Freud Introduction Carl Jung (1875-1961) and Sigmund Freud (1856-1939) were two individuals whose theories on human personality would completely affect the way that people viewed the human mind. Carl Gustav was a practicing psychotherapist while Sigmund Freud created the discipline of psychoanalysis. The two men had seemingly identical beliefs about human behavior, but also had contrasting beliefs about concepts such as the ego, the psyche, and the state of unconsciousnessRead MoreSigmund Freud And Carl Jung1830 Words   |  8 Pages2015 Freud vs. Jung â€Å"One repays a teacher badly if one remains only a pupil. And why, then, should you not pluck at my laurels? You respect me; but how if one day your respect should tumble? Take care that a falling statue does not strike you dead! You had not yet sought yourselves when you found me. Thus do all believers -- Now I bid you lose me and find yourselves; and only when you have all denied me will I return to you.† (Nietzsche Quoted by Jung to Freud, 1912), [McGuire, 1974] Sigmund FreudRead MoreCarl Jung And Sigmund Freud1977 Words   |  8 PagesBefore going over the differences between the two psychologist, Carl Jung and Sigmund Freud, covering the similarities between them is just as important in the world of psychology. Carl Jung and Sigmund Freud both subscribe to the idea that there is a conscious mind and an unconscious mind. Our unconscious mind is basically where we store all of our repressed traits and that they kind of agreed on even though Jung believed that we also store ancestral memory, but we will go into that difference laterRead MoreDreams: Carl Jung and Sigmund Freud Essay1174 Words   |  5 Pagesdreams actually work there are two psychologists that have been able to pinpoint the true meaning of dreams. These two men are Carl Jung and Sigmund Freud. There are many different perceptions on how people dream, what dreams mean, and why people dream. Sigmund Freud is known as the father of psychoanalysis, along with a psychologist, physiologist, and medical doctor. Freud worked with Joseph Breuer to develop the theory of how the mind is a complex energy system.Throughout Freud’s life he encounteredRead MoreThe Personality Theories Of Sigmund Freud ( 1856-1939 ) And Carl Jung2919 Words   |  12 Pagespersonality theories of Sigmund Freud (1856-1939) and Carl Jung (1875-1961). Prior to Freud, personality psychology did not exist. Freud’s psychoanalytic theory conceptualized personality development in terms of psychosexual stages whereby personality was fixed by middle childhood. Freud explained that mental and physical illnesses were the result of an individual not being aware of the inner conflict which was experienced due to repressed infantile sexuality (Friedman Schustack, 2012). Jung, as part of theRead MoreA Comparative Analysis of the Psychoanalytic Theories of Sigmund Freud, Carl Jung, and Alfred Alders1012 Words   |  4 Pagesdifferences in the three theories that derived by Sigmund Freund, Carl Jung and Alfred Alders. The study will look at my personal opinion on the characteristics of the theory. An examination on the stages of Freuds theory will help to dissect personal characteristics (Burger, 2011). The use of real life examples will help to determine the Freudian defense mechanism theory. The similarities and the differences on psychoanalysis theories Sigmund Freund outlined childhood events as a major contributoryRead MoreFreud and Jungs Father/Son Relationship835 Words   |  4 PagesFreudJung Introduction The relationship between Carl Jung and Sigmund Freud began in 1906 when Jung sent Freud a signed copy of his published studies. Unknown to Jung, Freud had already purchased his own copy of the book after hearing how favorably his name figured into the writings. Six months later, Freud sent a collection of his latest published essays to Jung in Zà ¼rich.(The Well-Documented Friendship of Carl Jung Sigmund Freud, 2014,p.1) When the two were finally able to meetRead More Freud and Jung Essay1403 Words   |  6 PagesFreud and Jung The psychological genre as it relates to sociological and medicinal matters has gained an increasing amount of scientific approval. Impartiality and the scientific method are both integral components to a psychologist’s mode of practice. However, even the most esteemed of psychologists can only speculate at what makes human beings act the way they do. Absolutes play no function in psychology. Everything is relative and open to conjecture. Theologians give us their visions or thoughtsRead MoreEssay on Psychoanalysis1148 Words   |  5 Pagesmind. This would be Sigmund Freud. Freud, along with Carl G. Jung and Alfred Adler, has impacted the history of psychoanalysis. Further, he has influenced the lives of the men and women during the early 1900s. In todays society, the history of psychoanalysis is continually being discussed among many scholars. Paul Roazen, author of Encountering Freud: The Politics and Histories of Psychoanalysis, has dedicated his professional career to researching the impact of Freud and his followers not

Tuesday, May 5, 2020

Sensitivity Analysis free essay sample

Sensitivity analysis is a technique that indicates exactly how much a projects profitability (NPV or IRR) will change in response to a given change in a single input variable, other things held constant. Sensitivity analysis begins with a base case developed using expected values (in the statistical sense) for all uncertain variables. Then, each uncertain variable is usually changed by a fixed percentage amount above and below its expected value, holding all other variables constant at their expected values. Thus, all input variables except one are held at their base case values. The resulting NPVs (or IRRs) are recorded and plotted. Although sensitivity analysis is widely used in project risk analysis, it does have severe limitations. If an input variable is not expected to vary much (is relatively certain), a project would not be very risky even if a sensitivity analysis showed NPV to be highly sensitive to changes in that variable. In general, a projects stand-alone risk, which is what is being measured by sensitivity analysis, depends on both the sensitivity of its profitability to changes in key input variables as well as the ranges of likely values of these variables. Because sensitivity analysis considers only the first factor, it can give misleading results. Furthermore, sensitivity analysis does not consider any interactions among the uncertain input variables; it considers each variable independently of the others. In spite of the shortcomings, sensitivity analysis does provide managers with valuable information. First, it provides profitability breakeven information for the project’s uncertain variables. Second, sensitivity analysis tells managers which input variables are most critical to the projects profitability, and hence to the project’s financial success. With such variables identified, managers can spend the most time forecasting the variables that â€Å"count,† so the resources expended in the analysis can be as productive as possible. Scenario analysis is a stand-alone risk analysis technique that considers the sensitivity of NPV to changes in key variables, the likely range of variable values, and the interactions among variables. To conduct a scenario analysis, managers pick a bad set of circumstances (i. e. , low volume, low salvage value, and so on), an average or most likely set, and a good† set. The resulting input values are then used to calculate NPVs for several â€Å"scenarios,† usually three. With NPVs for the worst, most likely, and best cases, managers can get a feel for the variability of the profitability of a project that results from uncertainty. Specifically, if probabilities are attached to the scenarios, a standard deviation of NPV can be calculated. While scenario analysis provides useful information about a projects stand-alone risk, it is limited in two ways. First, it only considers a few discrete states of the economy, and hence provides information on only a few potential profitability outcomes for the project. In reality, an almost infinite number of possibilities exist. Scenario analysis typically contains only three outcomes, but it could be expanded to include more states of the economy, say, five or seven. However, there is a practical limit on how many scenarios can be included in a scenario analysis. Second, scenario analysis—at least as normally conducted—implies a very definite relationship among the uncertain variables. That is, it assumes that all the worst case input values occur at the same time, because the worst case scenario is defined by combining the worst possible value of each uncertain variable. Although this relationship (all worst values occurring together) may hold in some situations, in others it may not hold. The same circumstances occur in the best case. Thus, scenario analysis tends to create extreme profitability values for the worst and best cases because it automatically combines all worst and best input values, even if these values actually have only a remote chance of occurring together. Some projects are evaluated on the basis of minimizing the present value of future costs rather than on the basis of the projects NPVs. This is done because it is often impossible to allocate revenues to a particular project; and it is easier to focus on comparative costs when two projects will produce the same revenue stream. In a conventional analysis, when inflows are being discounted, a higher discount rate leads to a lower present value, which penalizes an inflow for higher risk. However, to penalize an outflow for higher risk, the outflow must have a higher present value, not a lower one. Therefore, a cash outflow that has higher-than-average risk must be evaluated with a lower-than-average cost of capital. 15. The corporate cost of capital is the opportunity cost rate that reflects the overall risk and debt utilization (capacity) of the business. Thus, the corporate cost of capital is the appropriate discount rate only for projects that have risk and debt capacity characteristics that match the business in the aggregate. The project cost of capital is the appropriate opportunity cost (discount rate) for a particular project. For projects with risk and debt capacity characteristics similar to the firm in the aggregate, the project cost of capital is the same as the corporate cost of capital. However, projects with different characteristics will have a project cost of capital that differs from the corporate cost of capital. In general, projects with greater-than-average risk will have a project cost of capital that is greater than the corporate cost of capital, and projects with lower-than-average risk will have a project cost of capital that is less than the corporate cost of capital. Although debt capacity differences should be considered, in practice such differences are rarely recognized