Assignment 2

UHU005: Humanities for Engineers

Submitted by:
Satinderjit Singh
401703024
COE 23

Q1. Differentiate between long run equilibrium for monopoly and monopolistic
firms.
Ans)
Long Run Equilibrium of Monopoly Firms:
Monopolies can maintain very high profits over time. Like all firms, profitability
is increased when MC = MR. Generally, the level of profitability depends on the
level of competition in the market, which only the independent individual
determines. In profit making, MC = MR, and output is Q and price P. Given that
price (AR) is higher than ATC in Q, greater profit is possible. An unrelated
position other than a replacement will be able to get a much higher power.
Long Run Equilibrium of Monopolistic Competition:
Over time, a company in a unique competitive market will produce a number of
assets where the fixed-time cost (LRMC) circulates earnings. The price will be
set when the value produced falls to the average price (AR) curve. The result is
that over time the firm will break down. In the long run, the competitive
competitive market is not working. It does not brag about being allocated or
successful. Also, as a competitive and individual company has a monopoly in a
market such as monopoly, increasing its profit-generating output will result in a
total loss of consumer and producer surplus.
Q2. Describe the various types of creativity? Discuss the different steps in the
creative process using suitable examples. In your opinion, is this process
universal to all types of creativity?
Ans) Various Types of Creativity are:

1. Deliberate and Cognitive creativity

People with intentional and perceptual qualities are objective. They have great
knowledge of a particular topic and combine their skills and strengths to prepare
a course of action to accomplish something. This is a type of inventory created
when people work too long somewhere. People who fall under this category of
natural art tend to have the ability to research, solve problems, investigate and
experiment. This kind of invention is found in the cortex of the early, pre-
existing brain. These types of creative people spend a lot of time on a one-day
trial to find new solutions.
2) Deliberate And Emotional Creativity

People categorized as deliberate and emotional are their work influenced by their
emotional state. These types of creative people are very emotional and naturally
sensitive. These people love some quiet and personal time to reflect and often
have a habit of writing in a diary. However, they are equally reasonable and
reasonable in making decisions.

Their creativity is always a by-product of the deliberate deliberation of sensible

thoughts and actions. This type of activation is found in parts of the amygdala
and cingrate cortex of the human brain. The Amygdala is responsible for human
emotions and the cingrate cortex helps in learning and processing information.
This kind of innovation happens to people at random times. Those deadlines are
called “aha!” The times when someone suddenly thinks of a solution to a
particular problem or thinks of a particular creative idea. For example, there are
situations where you feel low and have feelings that distract you from your work.

3) Spontaneous and Cognitive creativity

There are times when you spend too much time solving a problem but not thinking
about any solution. For example, when you want to make a monthly plan to do
work, but you can't seem to think in any way and when you watch television and
you have your spare time and suddenly think of a solution and everything is in
place. The same is true of the great scientist Isaac Newton. He got an idea about
the law of gravity when an apple hit his head while he was sitting under a tree
and resting. This kind of innovation happens when one has the knowledge that a
particular task has been done, but needs inspiration and a plan to go in the right
direction. This kind of inventory often happens at very unpleasant times, such as
when you're sleeping with your partner or taking a shower. Automatic and
creative thinking happens when the conscious mind stops working and goes to
rest and the unconscious mind gets a chance to work.

4) Spontaneous And Emotional Creativity

Automatic and emotional activation occurs in the part of the amygdala of the
human brain. The Amygdala is responsible for all sensory impulses in the human
brain. The ideas of automation and creativity occur when the brain is not aware
and before the rest is at rest. This type of inventory is widely available to major
artists such as artists, painters and writers etc. This type of inventory is also
related to "opponents". Those timescales are defined as the rare times when a
positive reception occurs. It is not necessary to have some knowledge of inventing
the "automatic and emotional" to occur but it must have a skill such as writing,
music or art. This type of inventory cannot be acquired by working with it.

Different Steps in creative process:

The creative process can be divided into 4 stages: preparation, incubation,

illumination, and verification.

• In the first stage, your brain is gathering information. After all, creative
ideas don’t come from a vacuum. For ex: For idea to be entrepreneur we
first need to gather all the data required for framing it.

• In the second stage, you let your mind wander and stretch your ideas. For
ex: In this stage our mind speak what we want to do with the information
gathered.

• In the third stage, you make connections between ideas. For ex: In this
stage we make connection of the information we gathered with the ideas
which are minds frames.

• In the fourth stage, creative ideas need to be polished by critical thinking

in order to persuasively reach their audience. For ex: In last stage for to be
entrepreneur we concentrate on ideas on how to make our creative idea hit
in masses.
In my opinion this creative process is universal in all types of creativity as all
these steps are required to make your creative ideas a successful one.

Q3. There are various attributes of a profession? What, in your opinion, is the
significance of each of these attributes in a professional’s life?
Ans) Various attributes of a profession are:

You set high standards for yourself. You take pride in your work. You
demonstrate your expertise. And you are regularly investing in yourself,
learning and growing.

• Risk Taker
You have the choice of how to react to difficult situations and how to make
decisions on what to do and what to say in a subtle situation. Taking the
highway means choosing the most reliable and reputable option, rather
than falling under the lower denominator. She respects others and treats
people well. You do not gossip, but you will understand. Do not blame
others with the tip of the finger. Instead you admit your mistakes when you
make them.

• Calm Under Pressusre

You’re ready, and you can keep a cool head when everyone around you
goes astray, so you can find an answer or action that will save the day. It's
about cultivating that quality of being out of reach even if you have been
fired for a big meeting or are facing an important deadline and something
is wrong. This quality is all about positive thinking and taking appropriate
action urgently.

• Proactive
You’re proactively anticipating things that might happen, so that you can
smooth the path forward. And when things go wrong, focus on finding
solutions. He takes action to remedy the situation. It's about being a leader
and taking action without what other people tell you.
Significance of these qualities are very large in a professional’s life. If you’re
seeking a sponsor or bigger career opportunities, then these are qualities that
others are looking for too.
Nobody’s going to be perfect, but the key is that you continue to work toward
being more consistent in having and displaying these qualities. And by the way,
these qualities are helpful in the rest of life too, not just at work!