Economics Oligopoly

Primary financial highlights of an Oligopoly and key monetary speculations of value fixing. This piece of the coursework plans to distinguish and clarify the primary financial highlights of an Oligopoly and furthermore the key monetary hypotheses which impact the cost of an item or administration. This part manages the hypothetical parts of Oligopoly and the later part underscores on the down to earth uses of the speculations and oligopoly features.According to Pass et al (2000), â€Å"Oligopoly, a sort of market structure is described by a couple of firms and numerous purchasers, where the greater part of market gracefully is in the control of generally scarcely any enormous firms who thus offer to numerous little buyers†. To portray the level of oligopoly, fixation proportion is regularly used. Focus proportion is the proportion of the piece of the overall industry of the biggest four firms in the business communicated as a rate. A low focus proportion recommends an elevated level of rivalry and the other way around for.As there are scarcely any players commanding the business, every player or an oligopolist is said or liable to know about others course of activities. The choice taken by one player appears to influence the choice taken by others and key arranging by the organizations needs to consider the imaginable reaction of different members (Wikipedia, 2010). For instance, a legitimate round of chess relies upon how well you read your opponent’s moves, comparatively in oligopoly; systems are formulated dependent on the moves of contending market firms.The purpose behind presence oligopoly as expressed by Maunder et al (1991) is for the accomplishment of economies of scale. Firms will in general lessen their normal expense of creation by expanding their size of activity and since the little firms have higher normal costs, they will in general leave business or be consumed by the bigger ones. The highlights of oligopoly are:- a. Number of Fir ms:- The significant element of an oligopoly is the quantity of firms. Despite the fact that there are an enormous number of firms working in a specific industry, just a bunch of firms hold the significant offer between them. . Reliance: †A particular component of an oligopoly is relationship. At the point when a not very many huge firms work in a specific industry, their exercises or technique can't be autonomous of one another. In contrast to syndication, where the monopolist need not stress over the response of its opponents as there are none, an oligopolist thinks about the potential responses of all adversary firms. For instance, an organization considering a value decrease of its items may wish to assess the odds of value decrease by the opponent organization and subsequently beginning a value war. . Benefit Maximization Condition: †The organizations in an oligopoly by and large consent to co-work and go about as one monopolist as it produces high benefits (Begg and Ward 2007). This sort of formal deceitful understanding is known as a cartel. An oligopoly amplifies benefits where the minor income rises to the negligible expense. This is otherwise called benefit augmentation condition. Value ELASTIC UNIT ELASTIC P MC, AC PROFIT MAXIMIZING OUTPUT O MR Quantity (Source: Begg and Ward 2007) d.Perfect Knowledge: †Oligopolists are said to have an ideal information about their expense and request works yet a lesser data about different firms (Wikipedia, 2010). e. Passage Barrier: †One of the primary significant highlights of oligopoly likewise is the section boundary. There are high section boundaries that control another firm from entering a market. For instance, the boundaries can be the economies of scale, access to costly and complex innovation, lower costs for a set up firm, brand devotion, licensed creation process and vital activity by occupant firms etc.The table beneath gives the market fixation in various businesses. As talked abou t before, the enormous hardly any organizations structure a cartel and set a cost. When the individuals from the cartel concur on the value, they contend with one another utilizing non value rivalry so as to pick up the most extreme income. There are different manners by which the organizations fix the cost. One of them being inferred arrangement, where the organizations concede to a value set by a built up pioneer. This is otherwise called predominant firm value initiative as the value setting firm is the prevailing firm in the industry.The other way is the barometric firm value authority, where the value head is the one whose costs mirror the economic situations in the most steady structure (Sloman et al, 2010). To fix costs, the makers must have the option to control the market gracefully. Different types of value fixing in unsaid conspiracy is normal cost estimating, where makers include a specific level of benefit on normal expenses and cost benchmarking, where firms raise the cost uniquely up to a benchmark as of now set.Price fixing is accomplished by the contending firms meeting up on a stage where they can concede to a typical evaluating and creation procedure in this way acting in a way in which a restraining infrastructure works. This sort of arrangement is known as cartelisation. Cartels albeit restricted in numerous nations, is hard for the implementation organizations to assemble prove and punish the members. The amount for the cartel and the individual firm won't be equivalent to one firm independently will have the extension for additional expansion in efficiency to accomplish a circumstance where the negligible cost approaches the minor revenue.In such cases firms may choose to proceed with overabundance gracefully which can prompt a value war and conflicting incomes to the business. Indeed, even without clear agreement firms in an oligopoly can arrive at a state of benefit expansion when they carry on in a way reflected in â€Å"Nash Equilib rium† (Begg and Ward 2007). 2B) Direct to Home (DTH) media business in India going about as an oligopoly. India has a complete TV populace of around 135 million of which around 108 million have an entrance to link and satellite TV (Plugged in, 2010).The all out DTH sub base toward the finish of first quarter in the year 2010 was 23 million (Dish TV India Ltd, 2010) which was about only 1 million in the year 2006. Indian DTH industry has seen a whirlwind of exercises in the ongoing years after a monopolistic rule by Dish TV for a long time. It is as of now in a territory of Oligopoly with the best four administrators controlling about 80% of the absolute market. The significant players in the market are Dish TV by Zee gathering, TataSky-a joint endeavor by Tata and Star TV, Big TV by Anil Dhirubhai Ambani Group, Digital TV by Bharati Telemedia and SUN Direct from Sun TV.Since there are just 3 significant players in the DTH showcase, Indian DTH industry is an oligopoly. (Indiadt h, 2010) The item offering by the adversary firms are pretty much comparable in nature with almost no item separation. Among all the players, Sun Direct has basically stayed a territorial administrator who made a late introduction in the national scene. The substance or the channels are same with all the administrators excepting not many oversights and augmentations. The DTH business piece of the overall industry is as per the following. BRAND| MARKET SHARE| Dish TV| 30%|TataSky| 22%| Sun Direct| 25%| Big Tv| 13%| Airtel| 8%| D2H| 2%| (Source: http://www. pluggd. in/dth-industry-in-india-investigation 297/) From the information above we can see that Dish TV, TataSky and Sun Direct together hold the most extreme piece of the pie with over 75%. (Source: http://www. slideshare. net/) To affirm the oligopoly, we can utilize the Herfindahl-Hirschman list or the HHI. It quantifies the size of the organizations corresponding to the business and furthermore demonstrates the measure of rival ry between them. Numerically, (Adapted from Pass et al, 2000)Here Si = piece of the pie of firm I in the market and N is the quantity of firms. Consequently H = 302 + 222 + 252 + 132 + 82 + 22 H = 2246. With this estimation of H we can presume that this industry is an oligopoly. In spite of the fact that there is no sign of a clear intrigue in the business, a more intensive glance at their value plan (fig 1. 1) can lead us to a vital or implied understanding between the players. The market is swirling with advertising drives to collect piece of the pie and the client is as of now stacked with complimentary gifts like free establishment, free channels and the like.Going by the degree of venture and framework the administrators need to gather however much endorser base as could reasonably be expected to be in a productive suggestion. They are anyway mindful of the opposition and are abstaining from a value war. Such conduct of the administrators is normal for a non-value rivalry in Ol igopoly. This is because of the interdependency of firms in the oligopoly and the vital conduct can likewise be alluded to the â€Å"Nash Equilibrium† (Begg and Ward 2007). (Source: Slideshare. net/researchonIndia) Brand Name| PricePlan(inINR)/month| Dish TV| 135. 0| TataSky| 150. 00| Sun Direct| 115. 00| Videocon| 136. 00| Fig: 1. 1 (Source: Company sites, 2010) Now as in any oligopoly, it must be upheld by passage hindrances, both endogenous and exogenous. The characteristic hindrance of section in this specific industry is basically connected with government authorizing and furthermore the power of capital venture required. Given that all the DTH administrators are now settled players in related parts, for example, telecom, media it gives them a key preferred position as far as dispersion and content.For any new contestant it could act like a vital passage boundary. Indian DTH showcase has continually been pulling in various players throughout the years given the expanding number of TV endorsers. Despite the fact that there have been section obstructions, organizations like Videocon alongside its bleeding edge innovation went into the market within the sight of built up players. The bleeding edge innovation end up being a boundary breaker. Videocon figured out how to construct TVs with set top boxes which helped it build up its own client base.References Begg, D. , and Ward, D. (2007). Financial matters for Business, second release. Berkshire: McGraw Hill Publication. Christopher Pass, Bryan Lowes and

The impact of Twitter on people's life Essay Example | Topics and Well Written Essays - 500 words

The effect of Twitter on individuals' life - Essay Example President Obama is one of the numerous government officials who use twitter to get his messages far and wide. He shares his thoughts regarding his new battles and even a tad about his own data. Being the informal communication site that twitter is, it is likewise totally different from different sites in light of the fact that a wide scope of individuals meet up and shares their stuff even popular individuals. They get their messages out, talk about their up and coming discharges and motion pictures since they are not punished for whatever they state. Organizations even advance their brands and items for instance star bucks advanced their â€Å"promoted tweets† so as to get their business out there. Whatever the case, it is significant that we comprehend, to each ying there is a yang, everything has both negative and positive viewpoints to it which are as per the following: It has never been simple for the individuals to associate with others and make new companions on the grounds that only a couple of decades back it was hard to meet new individuals and mingle now twitter has totally deleted the separations. One greatest negative effect of long range interpersonal communication locales is that they can be addictive. Individuals may lose their concentration at work or around the house. It is significant that they be utilized with some restraint. One more downside to twitter or any social site is the measure of data that is being shared. Individuals can lose their positions and even connections over sharing classified data over sites. Individuals additionally have security issues on the grounds that regardless of how all around concealed a person’s individual data is or it doesn’t matter if the protection settings are on the most significant level, it just takes a furious adherent to duplicate glue an image and break it around to render retribution. It is extraordinary how huge a change twitter has gotten our lives yet the correct balanced governance we can make the most out the open doors we

Tips for Illini during Cold and Flu Season

Tips for Illini during Cold and Flu Season As the leaves start to turn pretty colors and the temperature starts to drop, that means people will start coughing and sneezing. Although coughing and sneezing are natural bodily functions, these are signs that people are catching the cold or the flu. When youre in college, youre surrounded by thousands of people every day, which can make you vulnerable to germs. But, no one wants to end up like this: However, if you do end up like this guy, McKinley Health Center provides free Cold and Flu Packs to students with a valid I-Card. A Cold and Flu Pack is bag of goodies that include cough drops, Advil, and other things to help you get over the cold and flu. Heres some of the most helpful tips to help take care of yourself while you do have a cold or flu. Get Lots of Sleep:  Theres nothing better than catching those zs. Sleep helps maintain and restore energy levels in the body, which will help combat the sickness. Wash Your Hands: We learned to do this when we were little, but its worth reminding everyone that its important to wash your hands. Wash your hands with soap and sing the ABCs while doing it. The length of time it takes you to sing the song should be how long you should be washing your hands for. Maybe you can sound like Justin Timberlake if you wash your hands enough. Do The Vampire Cough:  When we were kids, we were taught to cough into your hands. However, its a better idea to cough into your elbow because coughing into your hands and then shaking hands with someone is spreading germs. But, people are less likely to touch elbows than hands. I call it the vampire cough because it looks like Im wearing a vampire cape when coughing. Stay healthy Illini! Daniel Class of 2018 I’m an Advertising major in the College of Media. I’m from a northwest suburb of Chicago called Buffalo Grove. I chose Illinois because it was the first university in the entire world to offer an Advertising major, which is pretty cool!

Henry IV - King Henry IV of England

Henry IV was also known as: Henry Bolingbroke, Henry of Lancaster, the Earl of Derbey (or Derby) and the Duke of Hereford. Henry IV was noted for: Usurping the English crown from Richard II, beginning the Lancastrian dynasty and planting the seeds of the Wars of the Roses. Henry also took part in a notable conspiracy against Richards closest associates earlier in his reign. Places of Residence and Influence: England Important Dates: Born: April, 1366 Succeeded to the throne: Sept. 30, 1399Died: Mar. 20, 1413 About Henry IV: King Edward III had fathered many sons; the oldest, Edward, the Black Prince, predeceased the old king, but not before he himself had a son: Richard. When Edward III died, the crown passed to Richard when he was only 10 years old. Another of the late kings sons, John of Gaunt, served as regent to young Richard. Henry was John of Gaunts son. When Gaunt left for an extended expedition to Spain in 1386, Henry, now about 20, became one of five leading opponents to the crown known as the lords appellant. Together they successfully made an appeal of treason to outlaw those closest to Richard. A political struggle ensued for about three years, at which point Richard began to regain some of his autonomy; but the return of John of Gaunt triggered a reconciliation. Henry then went crusading in Lithuania and Prussia, during which time his father died and Richard, still resentful of the appellants, seized the Lancastrian estates that were rightfully Henrys. Henry returned to England to take his lands through force of arms. Richard was in Ireland at the time, and as Henry proceeded from Yorkshire to London he attracted to his cause many powerful magnates, who were concerned that their rights of inheritance might be endangered as Henrys had. By the time Richard returned to London he had no support left, and he abdicated; Henry was subsequently declared king by Parliament. But although Henry had conducted himself fairly honorably, he was considered a usurper, and his reign was plagued with conflict and rebellion. Many of the magnates who had supported him in defeating Richard were more interested in building their own power bases than in helping the crown. In January of 1400, when Richard was still alive, Henry quashed a conspiracy of the deposed kings supporters. Later that year, Owen Glendower started a rebellion against English rule in Wales, which Henry was unable to quell with any real success (although his son Henry V had better luck). Glendower allied with the powerful Percy family, encouraging more English resistance to Henrys rule. The Welsh problem persisted even after Henrys forces killed Sir Henry Percy in battle in 1403; the French aided Welsh rebels in 1405 and 1406. And Henry also had to contend with intermittent conflict at home and border troubles with the Scots. Henrys health began to deteriorate, and he was accused of mismanaging the funds he received in the form of parliamentary grants in order to finance his military expeditions. He negotiated an alliance with the French who were waging war against the Burgundians, and it was at this tense stage in his difficult reign that he became incapacitated in late 1412, dying several months later. Henry IV Resources Henry IV on the WebMedieval Renaissance Monarchs of EnglandHundred Years War

Video Game Addiction - 524 Words

When a person thinks of an addiction, substances come to mind: drugs and alcohol. Doctors are now realizing and recognizing behaviors as addictive also. The criteria descriptions are almost mirrored with those of a substance addiction and Kimberly Young, PsD, clinical director of the Center for On-Line Addiction says compulsive gaming meets these criteria. Severe withdrawal symptoms are prevalent with those who are addicted; they can become violent, or depressed (Rauh, 2006). Video gaming is a $66 billion dollar industry. A study produced in 2007 found that almost 12 percent of those who participated, 7,000 people to be exact, were diagnosed as addicted to video games (Flanagan, 2014). The biological aspect of video game addiction is still quite unclear. Research is suggesting that gambling can elevate the levels of dopamine and video gaming can fall into this same category. However, addiction lies further than basic chemistry. There is a psychological factor at play as well. The fantasy of online role playing lures players into a virtual world and become anyone they choose. Fat can be skinny, ugly can be beautiful, unpopular becomes king. Domination becomes their new reality. Their fantasy world can become real and make them better (Rauh, 2006). While gaming can seem harmless compared to the dangerous and lasting effects of drugs or alcohol overdoses, it has the chance to ruin many lives. People, who play, specifically children, are forgetting aboutShow MoreRelatedVideo Games : Video Game Addiction2135 Words   |  9 PagesApril 15 Video Games Addiction in Asia For the past decades, video games have been accessible to varied kinds of groups all over the world, which are from children to adults. Meanwhile, problems of online games addiction are arising particularly rapid and evident, especially in Asia. 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But, video game addiction is, in fact, a real phenomenon and it is a direct cause of health and social problemsRead MorePsychological Effects Of Video Game Addiction Essay1622 Words   |  7 PagesPsychological Effects and Consequences of Video Game Addiction Hardcore players are usually younger and may suffer from emotional issues, low self-esteem, and low self-worth. People that suffer from such emotional problems are more susceptible to becoming addicted to playing video games. In these interactive video games, players can act out and take risks in the game that they otherwise would not do in real life. These young players attach themselves to these other identities, try out leadership

Fuel Price Free Essays

Great Impact of Rising Fuel Price Fuel is another transportation system component. Rising of fuel price is one of the major issues facing the transportation industry in Malaysia. Fuel may be gasoline, natural gas, diesel fuel, ethanol, methanol, coal, etc. We will write a custom essay sample on Fuel Price or any similar topic only for you Order Now The costs and efficiency of transportation fuels are considerable interest. (Joseph Sussman; Introduction to Transportation Systems; Transportation System Components; 2000). Fuel price volatility along with overall price increases has been an issue with transportation carriers, airlines, and even some water carriers and is a continuing challenge to the financial viability, causing some carriers to file for bankruptcy. Overall, it can be argued that is a manifestation of world demand and the supply of crude oil. The demand for oil as a source of energy to power transport equipment and for private use has been growing steady, but crude oil is limited natural resource. New oil fields have been discovered since World War II, but the known available supply of oil has not kept pace with the increased demand. Consequently, the general trend for fuel prices has been upward. This trend in price has been exacerbated by the location of the best oil fields in distant countries and the disproportionate share of oil consumption. Two factors mentioned have impacted the price of oil namely the growth in demand from other countries and the speculation that occurs in the futures market. An additional factor is the disruption that can occur with terrorist actions and political upheaval in certain parts of the world. Rising fuel prices could put a spanner in the works of the region’s recovering economies, Malaysia included, if the market does not cool down soon. The higher costs incurred by transportation companies are already causing jitters that they might have to offload some of the burden onto end-consumers soon. Malaysia Airlines, for example, has been lobbying for months for a domestic air fare increase to offset higher direct operational costs, of which jet fuel and kerosene are the largest components. -(Pui Kiew Ling, Jamal Othman, Noorasiah Sulaiman ;Macroeconomics and Industry Effect of an Increase in Fuel Price in Malaysia; 2012) Already there are fears in the US that the runaway oil prices would bring the economy’s decade-long expansion to a screeching halt, with all its implications on the rest of the world, particularly export-driven economies ike Malaysia which depend heavily on the US, European and Japanese markets. -(Transport, Trade and Climate Change; Carbon Footprints, Fuel Subsidies and Market-based Measure; 2011) The challenge, then, in transportation industry especially for carriers and shippers for example will be deal with the uncertainty and volatility of fuel prices and the expectation that the price will be increasing over time. However, the impact will vary amo ng the modes of transportation because some are more fuel efficient than others due to their different operating and market condition in or outside our country. In overall, looking to the future and considering the challenges associated with volatility in fuel prices and the environment on the other side, much effort will be directed at the concept of the green supply chain. There is every indication that is not just a concept but rather a growing commitment that has economic as well as environmental benefits to shippers and carriers and also for all type of transport in Malaysia transportation industry generally. How to cite Fuel Price, Essay examples

The Oiled Paper Umbrella

Abstract Umbrellas have evolved throughout the history of ancient China, Egypt, and the Middle East. Oiled paper umbrella is a type of umbrella that emanated from China during the ancient times and has evolved and dominated the world due to its unique features.Advertising We will write a custom research paper sample on The Oiled Paper Umbrella specifically for you for only $16.05 $11/page Learn More The unique features of oiled paper umbrella include smooth bamboo handle, waterproof shade, light paper, and colorful collections. A study, carried out in colleges, confirmed that students prefer oiled paper umbrella as compared to other umbrellas, thus designers and entrepreneurs should target students and entire youth as potential customers of oiled paper umbrellas. Introduction The oiled paper umbrella is a special umbrella that emanated from China during the ancient times but has currently gained international recognition that, it is virtually present in all countries. Johnson argues that, versatility of oiled paper umbrella to various occasions and functions has made it gain international significance as compared to the ordinary umbrellas (8). This implies that, oiled paper umbrella has unique appeal to diverse cultures across the world due to its unique design and variable colors. Since the oiled paper umbrella has dominated the world, this project seeks to establish the unique features that are inherent in the umbrella design that make it appeal to so many people across the world. Review of the Literature As aforementioned, the oiled paper umbrella is unique umbrella that Chinese invented during the ancient times. The Chinese made the oiled umbrella using bamboo, wax, paper, and various colors that give different tastes. Royal families and emperors used red and yellow colors with special designs while ordinary people used blue or other colored umbrellas. According to Smith, oiled umbrellas serve several purposes in the Chinese cu lture in that they do not only provide shade against rain and sunshine, but also as act as artifacts of decorations in weddings and prevention of evil spirits in religious ceremonies (1). In addition, other people across the world use the oiled paper umbrella as gifts to their loved ones and souvenirs of the Chinese culture. Despite the fact that the oiled paper umbrella originated from China, it has spread across the world, because its unique design and multiple colors appeal to many people.Advertising Looking for research paper on art and design? Let's see if we can help you! Get your first paper with 15% OFF Learn More Methodology To establish unique features that are inherent in the oiled paper umbrella, a study was carried out in a college. The survey targeted 200 college-going students and ensured that there was gender balance to enhance the credibility of the research findings. According to Walter, the appealing features of the oiled paper umbrella include oil t hat repels water, smooth bamboo handle, and colorful designs (8). Therefore, the study hypothesized that students would cite these unique features as inherent components of the oiled paper umbrellas that have made it dominate the world’s markets with much value. In the study, the researchers interviewed 200 participants to state the umbrella they like and name its unique features. The researchers displayed four types of umbrellas with five sets, each having different colors. The study collected numerical data in terms of points. When each participant selected the desired umbrella, it was a point; moreover, every named unique feature was a point too. Expected Results The study expected that, since the oiled paper umbrella has more unique features as compared to the ordinary umbrellas, it would score more points. Edwards asserts that, artifacts that have many attractive features are more appealing than those with minimal features are (13). Hence, smooth bamboo, waterproof shade , light paper, colorful collections, and unique design of the oiled paper umbrella are many attributes that made it score more points in the survey. Comparatively, the ordinary umbrellas only have good design features and exist in colorful collections; however, they do not have bamboo and paper components plus waterproof shade. Therefore, the research findings are relevant to both designers and entrepreneurs since they give an idea about students’ preferences and tastes concerning umbrellas. Designers will employ these findings in designing customized umbrellas that target students and by extension youths, as a generalization of the findings. Moreover, entrepreneurs will employ these findings in targeting youths as potential customers of the oiled paper umbrellas. Research Project Timetable The researchers carried out the study on a weekend viz. Saturday and Sunday, between 9am and 4pm, because most of the students are free and have ample time for interviews. Between 9am and 4pm, researchers visited students at various places within the college: in hostels, classes, and field or entertainment centers. The objective of the study was to interview 200 participants, 100 males and 100 female students, in consideration of gender perception of umbrella features.Advertising We will write a custom research paper sample on The Oiled Paper Umbrella specifically for you for only $16.05 $11/page Learn More Resources Required The study required resources such as the interviewers who carried out the study during the two days and analyzed the data. The interviewers used questionnaires and stationery as recourses when collecting required information from participants. Other resources that were critical include samples of four types of umbrellas each having five sets of different colors. Conclusion Invention of umbrellas began a long time ago, about 4000 years, in various parts of the world such as China, Assyria, and Egypt. Bellis explains that, the ancient umbrellas functioned as shade against sun and rain, but they have evolved with time in that, they currently function as beauty artifacts in weddings, souvenirs, and gifts (5). Due to its unique and attractive features, the oiled paper umbrella has gained international recognition because international designers and fashion industries are reproducing it across the world. Currently, in Europe and the United States, the oiled paper umbrellas cost between 10 to 100 dollars, depending on quality and design of the umbrella. The study carried in a college proved that students preferred the oiled umbrella to the ordinary umbrellas. Thus, research findings are relevant to both designers and entrepreneurs of umbrellas, for they provide probable tastes and preferences of students. Works Cited Bellis, Mary. â€Å"Who Invented the Umbrella?† Invention History Database, 2011: 1-7. Edwards, Cain. â€Å"Arts and Design of Artifacts.† European Fashions and Designs, 20 10. Johnson, Kenneth. â€Å"Evolution of Oiled Paper Umbrellas.† Chinese Exhibitions, 2010: 1-4 Smith, James. â€Å"Oiled-Paper Umbrella.† Inventions of the Chinese, 2009: 1-3.Advertising Looking for research paper on art and design? Let's see if we can help you! Get your first paper with 15% OFF Learn More Walter, Paul. â€Å"Chinese Oiled Umbrella.† International Arts and Exhibitions, 2008: 1-13. This research paper on The Oiled Paper Umbrella was written and submitted by user Vicente Padilla to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. 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