Exegesis of james chapter 5 verses 13-18 Essay Example | Topics and Well Written Essays - 2000 words

Exegesis of james chapter 5 verses 13-18 - Essay Example let him sing psalms† (James 5:13, New King James Version, 1611). This particular verse is aimed at humanity as a whole. James is essentially telling his readers that there is really no situation or circumstance that negates the need for prayer. James is also reminding his readers that God is available in times of trouble and also in times of rejoicing. This is possibly intended to illustrates God’s omniscient and omnipotence. A textual translation of this particular exert in the book of James is much less complicated than many other passages which can be looked at on the subject of prayer. The face value of what is being said here is simply an emphasis on the obedient act of prayer with faith. This holds true two thousand years ago just as it holds true today. There is very little variance on the different translations of this particular exert. It is also centrifugal to this message to know that when James refers to the afflicted, he means anyone with financial worries, health issues or troubles in life; should proactively turn their issue at hand over to God so that He may intervene in their life. James continues on in verse 14 to qualify his previous statement, â€Å"Is any sick among you? let him call for the elders of the church; and let them pray over him, anointing him with oil in the name of the Lord. (James 5:14). James also alludes to the fact that their are several aspects of prayer which enhance ones effective and personal communication with God. James goes on in verse 15 to expand on this concept, â€Å"And the prayer offered in faith will make the sick person well; the Lord will raise him up. If he has sinned, he will be forgiven†(James 5:15). In this passage, James illustrates the effects of heartfelt and effective prayer. This whole passage is indicative of the magnitude of God and his power but on a level which communicates to the reader. James explains that faith is really the currency to spiritual entrance into the presence

Math Exercises Problem Example | Topics and Well Written Essays - 1000 words

Exercises - Math Problem Example 1 A firm manufactures and sells q units of a product at price =  £(575 –  ½ q) which has unit costs of  £(q2 – 25q) and fixed costs of  £45,000. (a) Write down expressions for: revenue, profit and average cost in terms of output(q) of the firm. [1 mark] Revenue = (575 –  ½ q ) q = 575q –  ½ q2 Profit = Revenue – Total Cost = 575q –  ½ q2 - [(q2 – 25q )q +45,000] = 575q –  ½ q2 – q3 + 25q2 - 45,000 = – q3 + 24.5q2 + 575q - 45,000 Average Cost = Total Cost / q = q2 – 25q + 45,000/q (b) Find expressions for: marginal revenue, marginal cost, marginal profit and marginal average costs in terms of output (q). [2 marks] Marginal Revenue, Marginal Cost, Marginal Profit and Marginal Average Costs is the derivative of Revenue, Cost, Profit, Average Costs . Since the derivative of f(x) = xn is nxn-1, we have: Marginal Revenue = 575 – q Marginal Cost = 3q2 -50q Marginal Profit = -3q2 + 49q +575 Marginal Average Cost = 2q – 25 -45,000/q2 (since 1/q = q-1) (c) Find the output levels of the firm that and confirm that the output levels found do indeed maximise or minimise these functions [ 1 mark] (i) Maximise revenue †¢ This is the graph of Revenue = 575q –  ½ q2 , we can see that it is maximised at q = 575. (ii) Minimise costs To minimise costs, set marginal costs to 0 q = 50 / 3 or approx 17 units This is the graph of Costs = q3 - 25q2 + 45,000. We can see that the minimise value is approximately at q =17. (iii) Maximise profits To maximise profits, set marginal profits to 0 -3q2 + 49q +575 = 0 Using the quadratic formula, we have: q = 23.23 , -7.89 Disregarding the negative value, we have: q = 23 units. This is the graph of Profit = -q3 + 24.5q2 + 575q - 45,000. We can see that the maximum value is approximately at q=23. (iv) Minimise average costs To minimise average costs, set marginal average costs to 0: 2q - 25 -45,000/q2 = 0 (multiply both sides by q2) 2q3 - 25q2 - 45,000 = 0 With the use of trial and error, we get the only possible value as: q = 33 units. This is the graph of Average Cost = q2 - 25q + 45,000/q. We can see that the maximum value is approximately at q=33. 2. The demand function for a product is given by the following expression: q = 25 + 200 (p - 2) (a) Calculate the demand at prices 3 and 7 [1/2 mark ] For p = 3: q = 25 + 200 (3 - 2) q = 25 + 200 q = 225 For p = 7: q = 25 + 200 (7 - 2) q = 25 + 40 q = 65 Answer in (Q,P) form: (225,3), (65,7) (b) Calculate the ARC elasticity of demand with respect to price between the prices given in part (a) and comment on whether demand is elastic or inelastic between these prices. [1/2 mark] Earc = (Q2-Q1) / [(Q2+Q1)/2] (P2-P1) / [(P2+P1)/2] Earc = (65-225) / [(65+225)/2] (7-3) / [(7+3)/2] Earc = -160 / 145 4 / 5 Earc = -40 = -1.38 29 Since an "elastic" good is where price elasticity of demand is greater than one, we can consider that the demand is elastic between these prices. (c) Find an expression for POINT elasticity of demand with respect to price in terms of price. [ 1 mark] Ept = (q/ p) * p/q The derivative of q = 25 +200/(p-2) is q/ p = 0 + -1 (200) (p-2)-2 And q = 25 +200/(p-2) Hence: Ept = [-200p/ (p-2)2]/ [25 +200/(p-2)] (d) Calculate POINT elasticity of demand at prices 3 and 7 and comment on their values and on the relationship between ARC and POINT elasticity [1/2 mark] Ept = [-200p/ (p-2)2]/ [25 +200/(p-2)] Ept (3) = (-600/ 1)/ 225 = -2.67 Ept (7) = -56/ 65 = -0.862 The value of arc elasticity is in between the value of point elasticity which is expected