Wk# Linear Programming
|
|
- Derek Mosley
- 6 years ago
- Views:
Transcription
1 Alg2H 4-11 Linear Programming Wk#10 The Graphical method to solve linear programming problems: Copy the complete problem on graph paper Number the constraints Graph and label (with numbers) the constraints Shade the feasible region Determine and label (with letters) the corner points Evaluate the objective function at the corner points Determine the OPTIMAL VALUE (MAX and/or MIN) of the objective function and at what value(s) of x and y it occurs Use the graphical method outlined above to solve the following. (Be sure to use graph paper.) #1 MAX and MIN: z = 6x + 3y Subject to: x + 2y > 0-2x 4y < -8 10x + 2y > 10 0<x<6 -y < 3 y>0 #2 MAX and MIN: z = 0.9x + 0.2y Subject to: 2x + 3y < 12-2x 3y < 6 3x + y < 4 -x y < 0 y<2 x>0 y>0
2 Complete on graph paper: WK #10 #3 NUCLEAR vs. COAL Problem The City of Scorpion Gulch is planning a new power generating station. They can use either a nuclear power plant, a coal-fired plant, or both. It costs $60 per mw each day to dispose of nuclear waste and only $20 per mw each day to dispose of the ashes from the coal. You have been hired to optimize the numbers of megawatts (mw) of each kind of plant built in order to comply with a new Environmental Protection Agency (EPA) rule which states that the cost of disposing of wastes must be a minimum. Identify the variables: Let x = the # of mw generated by the nuclear plant y = D = a. Write the objective function expressing D in terms of x and y. b. Write inequalities expressing the following constraints: i. The maximum amount of nuclear power available is 24 mw. ii. The two plants must be capable of generating at least 25 mw, total. iii. Nuclear fuel costs $100 per mw each day, and coal costs $200 per mw each day. The daily fuel cost can be no more than $4200. iv. Constructing a nuclear plant costs 5 million dollars per mw, and constructing coal-fired plants costs 4 million dollars per mw. The total cost of construction must not exceed 140 million dollars. v. For political reasons, the number of mw in the coal plant must be more than half the number of mw in the nuclear plant. c. On graph paper, graph and label (with numbers) the constraints. (Remember to label the axis!)
3 d. Shade the feasible region. e. Based on these constraints, is it feasible to use no nuclear power? Justify your answer. f. Determine and label (with letters) the corner points. If it is not possible to read the coordinates of a point clearly from the graph, solve the system of equations to determine the exact point of intersection. g. Using a different color pencil or a pen, shade the portion of the feasible region in which the cost of disposal, D, is at most $1200 a day. h. Evaluate the objective function at each of the corner points. i. Determine the number of mw generated by each plant to minimize the disposal cost and determine the minimum disposal cost.
4 Complete on graph paper: Wk #10 #4 Corn Chip Problem Joe s Corn Chips, Inc. is divided into two departments which put out two types of corn chips, Extra Larges and Really Smalls. The company makes a profit of $200 per kilobag of Extra Larges and $150 per kilobag of Really Smalls. (A kilobag is 1000 bags.) Each department has separate regulations concerning the number of bags produced per day. The company s goal is to maximize its profit while following these regulations. Identify the variables: Let x = # of kilobags of Extra Larges y = P = a. Write the objective function expressing P in terms of x and y. b. Write inequalities expressing the following constraints: i. No more than 20 kilobags of Extra Larges and no more than 30 kilobags of Really Smalls can be put out per day. ii. No more than 45 kilobags, total, can be manufactured each day. iii. The number of Extra Larges must be no less than ¾ the number of Really Smalls produced per day. iv. More than 300 hours of labor must be used each day to meet union requirements. It takes 10 hours to make a kilobag of Extra Larges and 15 hours to make a kilobag of Really Smalls. c. On graph paper, graph and label (with numbers) the constraints. (Remember to label the axis!)
5 d. Shade the feasible region. e. Determine and label (with letters) the corner points. If it is not possible to read the coordinates of a point clearly from the graph, solve the system of equations to determine the exact point of intersection. f. Using a different color pencil or a pen, shade the portion of the feasible region in which the daily profit would be at least $6000. g. Evaluate the objective function at each of the corner points. h. How many kilobags of each kind should be produced each day to give the greatest feasible profit? What is this profit?
Optimizing an Advertising Campaign
Optimizing an Advertising Campaign Math 1010 Intermediate Algebra Group Project Background Information: Linear Programming is a technique used for optimization of a real-world situation. Examples of optimization
More informationAlgebra II: Strand 2. Linear Functions; Topic 4. Applications of Linear Programming; Task 2.4.1
1 TASK 2.4.1: COTTON VS. CORN Solutions Suppose a farmer has 150 acres available for planting corn and cotton. The cotton seeds cost $3 per acre and the corn seeds cost $5 per acre. The total labor costs
More informationINTRODUCTION TO LINEAR PROGRAMMING ASSIGNMENT #9, 10, AND 11
INTRODUCTION TO LINEAR PROGRAMMING ASSIGNMENT #9, 10, AND 11 ASSIGNMENT #9 BELLRINGERà Evaluate P = 20x + 30y for the coordinates 3, 5, 4, 7, and (5, 8). Which coordinate yields the greatest value of P?
More informationLINEAR PROGRAMMING PROJECT PACKET
AQR-Q1 LINEAR PROGRAMMING PROJECT PACKET Name: BELLRINGERà Evaluate P = 20x + 30y for the coordinates 3, 5, 4, 7, and (5, 8). Which coordinate yields the greatest value of P? WHAT IS LINEAR PROGRAMMING?
More informationA Production Problem
Session #2 Page 1 A Production Problem Weekly supply of raw materials: Large Bricks Small Bricks Products: Table Profit = $20/Table Chair Profit = $15/Chair Session #2 Page 2 Linear Programming Linear
More informationTotal Cost of Materials:
Worksheet 1: Cost Inventors have to do more than just come up with brilliant ideas. They then need to take those ideas and implement them using available money, resources, and time. Now that you have created
More informationSystem of two quadratic inequalities
Lesson Plan Lecture Version System of two quadratic inequalities Objectives: Students will: Graph a quadratic inequality and describe its solution set Solve a system of quadratic equalities graphically
More informationIntroduction A GENERAL MODEL OF SYSTEM OPTIMIZATION
Introduction A GENERAL MODEL OF SYSTEM OPTIMIZATION SYSTEM DEFINITIONS Engineering project design and optimization can be effectively approached using concepts of systems analysis. A system can be defined
More information. This function gives the supplier s behavior with respect to price and quantity.
Demand and supply functions are used to describe the consumer and manufacturer behavior with respect to the price of a product or service and the quantity of a product or service. Different textbooks may
More informationExploring Linear Programming
Warm Up Exploring Linear Programming Graph the following inequalities. Find and label the solution region. What are the vertices of the solution region? Furniture Company Problem Pretend we are a furniture
More informationMath 111 Group Activity: Change and Average Change. 1. Below is a graph of the value vs. time for one share of stock for a company named Banana Patch.
Name: Section: Math 111 Group Activity: Change and Average Change 1. Below is a graph of the value vs. time for one share of stock for a company named Banana Patch. 40 35 30 25 value 20 (in dollars) 15
More informationLinear Programming: Basic Concepts
Linear Programming: Basic Concepts Irwin/McGraw-Hill 1.١ The McGraw-Hill Companies, Inc., 2003 Introduction The management of any organization make Decision about how to allocate its resources to various
More informationBasic Linear Programming Concepts. Lecture 2 (3/29/2017)
Basic Linear Programming Concepts Lecture 2 (3/29/2017) Definition Linear Programming (LP) is a mathematical method to allocate scarce resources to competing activities in an optimal manner when the problem
More informationTHE UNIVERSITY OF BRITISH COLUMBIA Sauder School of Business SAMPLE MIDTERM EXAMINATION
THE UNIVERSITY OF BRITISH COLUMBIA Sauder School of Business COMMERCE 290 INTRODUCTION TO QUANTITATIVE DECISION MAKING SAMPLE MIDTERM EXAMINATION PLEASE READ THE FOLLOWING: 1. This examination consists
More informationMicroeconomic Theory -1- Introduction and maximization
Microeconomic Theory -- Introduction and maximization Introduction Maximization. Profit maximizing firm with monopoly power 6. General results on maximizing with two variables 3. Non-negativity constraints
More informationIndustries that use linear programming models include transportation, energy, telecommunications, and manufacturing.
Linear programming arose as a mathematical model developed during the second world war to plan expenditures and returns in order to reduce costs to the army and increase losses to the enemy. It was kept
More informationAS MATHEMATICS. Paper 2 PRACTICE PAPER SET1
PRACTICE PAPER SET1 Please write clearly, in block capitals. Centre number Candidate number Surname Forename(s) Candidate signature AS MATHEMATICS Paper 2 Practice paper Set 1 Time allowed: 1 hour 30 minutes
More informationMiSP Insolation Worksheet #1
MiSP Insolation Worksheet #1 Name Date Insolation Absorption and Radiation by Land and Water (L 3) Introduction The word insolation comes from three words: incoming solar radiation. Insolation is the electromagnetic
More information1.4 Applications of Functions to Economics
CHAPTER 1. FUNCTIONS AND CHANGE 18 1.4 Applications of Functions to Economics Definition. The cost function gives the total cost of producing a quantity of some good. The standard notation is: q = quantity,
More information8.EE Fixing the Furnace
8.EE Fixing the Furnace Alignments to Content Standards: 8.EE.C.8 Task Ivan s furnace has quit working during the coldest part of the year, and he is eager to get it fixed. He decides to call some mechanics
More informationi. The profit maximizing output of firm B is smaller than the profit maximizing output of firm A.
Short Questions 1. A firm is currently producing output using units of labor and units of other materials. The isoquant that corresponds to output level and the firm s optimal input choices are given in
More informationa. Show the feasible region. b. What are the extreme points of the feasible region? c. Find the optimal solution using the graphical procedure.
Sheet 2-Chapter 2 PROBLEMS An Introduction to Linear Programming 11. Solve the following linear program using the graphical solution procedure: 12. Consider the following linear programming problem: a.
More informationLinear Programming. 1 Goals and Agenda. Management 560: Management Science. Tuesday, March 17, 2009
Linear Programming Management 560: Management Science Tuesday, March 17, 2009 1 Goals and Agenda Learning Objective Learn how to formulate optimization problems with constraints (linear programming problems).
More informationHave you ever wondered where your clothes come from? Who actually makes
U.S. Shirts Using Tables, Graphs, and Equations, Part 1 Learning Goals In this lesson, you will: Use different models to represent a problem situation. Determine an initial value when given a final result.
More informationEcon 300: Intermediate Microeconomics, Spring 2014 Final Exam Study Guide 1
Econ 300: Intermediate Microeconomics, Spring 2014 Final Exam Study Guide 1 Chronological order of topics covered in class (to the best of my memory). Introduction to Microeconomics (Chapter 1) What is
More informationEconomics 101 Fall 2013 Homework 5 Due Tuesday, November 21, 2013
Economics 101 Fall 2013 Homework 5 Due Tuesday, November 21, 2013 Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the
More informationEcon 380 Problem Set #6 Answer Sheet. 1. (3 points) The marginal control cost curves for two air pollutant sources are given by
Econ 38 Problem Set #6 Answer Sheet. (3 points) The marginal control cost curves f two air pollutant sources are given by MC = 5 + qand MC = q, where q and q denote controlled emissions by source and,
More informationProgrammed to pass. calculate the shadow price of direct labour
Programmed to pass Ian Janes, CIMA course leader at Newport Business School, supplies and explains the answers to the supplementary question asked in March 2011 Financial Management s graphical linear
More informationCHAPTER 12 LINEAR PROGRAMMING POINTS TO REMEMBER
For more important questions visit : www.4ono.com CHAPTER 12 LINEAR PROGRAMMING POINTS TO REMEMBER Linear programming is the process used to obtain minimum or maximum value of the linear objective function
More informationName Period Score = Notes c/b 10 30
1 Name Period Score = Notes c/b 10 30 Secondary I Honors Review 7 1. Write a system of linear inequalities that is represented by the graph. 2. Tell whether the graph of each inequality would be represented
More informationAlgebra I Sample Questions. 4 On the set of axes below, graph the function represented by y = 3 x 2 for the domain
4 On the set of axes below, graph the function represented by y = 3 x 2 for the domain 6 x 10. 11 5 Solve 8m 2 20m 12 for m by factoring. 13 6 Ryker is given the graph of the function y = 1 2 x2 4. He
More informationLinear Programming. BUS 735: Business Decision Making and Research. Wednesday, November 8, Lecture / Discussion. Worksheet problem.
Linear Programming BUS 735: Business Decision Making and Research Wednesday, November 8, 2017 1 Goals and Agenda Learning Objective Learn how to formulate optimization problems with constraints (linear
More informationConsumer and Producer Surplus and Deadweight Loss
Consumer and Producer Surplus and Deadweight Loss The deadweight loss, value of lost time or quantity waste problem requires several steps. A ceiling or floor price must be given. We call that price the
More informationHomework 2 (Individual, 22 Points Total) DATE: Wednesday, September 7, 11:00am EE/Econ 458, Fall 2011
Homework 2 (Individual, 22 Points Total) Leigh Tesfatsion DATE: Wednesday, September 7, 11:00am EE/Econ 458, Fall 2011 Important Note: Late assignments will not be accepted no exceptions. HOMEWORK 2 Please
More informationDETERMINING THE DENSITY OF LIQUIDS & SOLIDS
DETERMINING THE DENSITY OF LIQUIDS & SOLIDS Density, like color, odor, melting point, and boiling point, is a physical property of matter. Therefore, density may be used in identifying matter. Density
More information2-7. Linear Programming
2-7 BJECTIVES Use linear programming procedures to solve applications. Recognize situations where exactly one solution to a linear programming application may not exist. Linear Programming MILITARY SCIENCE
More informationLinear Cost, Revenue, Profit, Supply, and Demand
Linear Cost, Revenue, Profit, Supply, and Demand Complete the following questions to investigate different types of linear models. Record your responses on this worksheet and the answer sheet. Turn in
More informationMath 111 Exam 2 November 18, Total 50
Math 111 Exam 2 November 18, 2014 Name: Quiz Section: Student ID Number: 1 12 2 12 3 14 4 12 Total 50 Check that your exam contains four pages of problems in addition to this cover page. You are allowed
More informationUnit 6 Multiple Representations: Using Linear Relations and their Multiple Representations
Unit 6 Multiple Representations: Using Linear Relations and their Multiple Representations Lesson Outline BIG PICTURE Grade 9 Applied Students will: determine solutions to linear equations by a variety
More informationIM3 - Lesson 5: Systems with Quadratics Unit 3 Quadratic Functions PART 2
A. Lesson Context BIG PICTURE of this UNIT: How & why do we build NEW knowledge in Mathematics? What NEW IDEAS & NEW CONCEPTS can we now explore with specific references to QUADRATIC FUNCTIONS? How can
More informationSuper-marketing. A Data Investigation. A note to teachers:
Super-marketing A Data Investigation A note to teachers: This is a simple data investigation requiring interpretation of data, completion of stem and leaf plots, generation of box plots and analysis of
More informationDifferentiation - ACTIVITIES
Differentiation - ACTIVITIES ACTIVITY ONE Learning Objectives LO1: Students learn how to independently calculate simple derivatives LO: Students learn some of the real world applications of differentiation
More informationLecture 1 Introduction. NE 364 Engineering Economy
NE 364 Engineering Economy Lecture 1 Introduction 1 Course Objectives Introduction to the basic cost concepts and economic environment. Familiarization with the principles of money- time relations and
More informationExam A Questions Managerial Economics BA 445. Exam A Version 2
BA 445 Exam A Version 2 Dr. Jon Burke This is your Exam A. Exam A is a 100-minute exam (1hr. 40 min.). There are 6 questions (about 17 minutes per question). To avoid the temptation to cheat, you must
More informationThis exam contains 14 pages (including this cover page) and 17 questions. Check to see if any pages are missing.
ECON 1 Fall 217 Final Exam December 18, 217 Time Limit: 12 Minutes Name (Print): Recitation Section: Name of TA: This exam contains 14 pages (including this cover page) and 17 questions. Check to see if
More informationExam 1. Pizzas. (per day) Figure 1
ECONOMICS 10-008 Dr. John Stewart Sept. 30, 2003 Exam 1 Instructions: Mark the letter for your chosen answer for each question on the computer readable answer sheet using a No.2 pencil. Note a)=1, b)=2
More informationLT 3: I can compare linear vs. exponential change.
LT 3: I can compare linear vs. exponential change. p.21 The Situation: You have $1,000 saved. Now, you need to figure out which bank you want to invest your money in. You can choose from the following
More informationMatrix Workshop Session Facilitation. University Process Innovation
Matrix Workshop Session Facilitation University Process Innovation Updated March 2016 Introduction You will let the participants vote on the top problems, then create and prioritize solutions for these
More informationCheck HW: WS Calculator Linear Programming
Check HW: WS Calculator Linear Programming A calculator company produces a scientific calculator and a graphing calculator. Long-term projections indicate an expected demand of at least 100 scientific
More information2012 MATHEMATICAL APPLICATIONS, Semester 1
TOPIC FOR OFFICE USE ONLY SUPERVISOR CHECK RE-MARKED ATTACH SACE REGISTRATION NUMBER LABEL TO THIS BOX External Examination 0 0 MATHEMATICAL APPLICATIONS, Semester Thursday 7 June: 9 a.m. Time: ½ hours
More informationThis exam contains 13 pages (including this cover page) and 17 questions. Check to see if any pages are missing.
ECON 001 Fall 2016 Final Exam December 21, 2016 Time Limit: 120 Minutes Name (Print): Recitation Section: Name of TA: This exam contains 13 pages (including this cover page) and 17 questions. Check to
More information1. are generally independent of the volume of units produced and sold. a. Fixed costs b. Variable costs c. Profits d.
Final Exam 61.252 Introduction to Management Sciences Instructor: G. V. Johnson December 17, 2002 1:30 p.m. to 3:30 p.m. Room 210-224 University Centre Seats 307-328 Paper No. 492 Model Building: Break-Even
More informationCIS QA LEVEL 2 WEEK 5 TOPIC: LINEAR PROGRAMMING OBJECTIVE AND SHORT ANSWER QUESTIONS
CIS QA LEVEL 2 WEEK 5 TOPIC: LINEAR PROGRAMMING OBJECTIVE AND SHORT ANSWER QUESTIONS 1. In the graphical method of solving a Linear Programming problem, the feasible region is the region containing A.
More informationUse an Excel spreadsheet to solve optimization problems
Math 19 Project 4 (Work in groups of two to four.) Linear Programming Names Use an Excel spreadsheet to solve optimization problems Example 1: The Solar Technology Company manufactures three different
More informationSUBJ SCORE # Version B: Page 1 of 10. (signature)
SUBJ SCORE # Version B: Page 1 of 10 Economics 001 NAME Professor Levinson GU ID # (9 digits) Midterm #2 Seat 2:00 pm November 6, 2013 DO NOT TURN TO PAGE 2 UNTIL THE INSTRUCTOR TELLS YOU TO DO SO. FOLLOW
More informationLinear Programming. Chapter 2: Basic Concepts. Lee-Anne Johennesse. Advanced Quantitative Methods 7 March 2016
Linear Programming Chapter 2: Basic Concepts Lee-Anne Johennesse Advanced Quantitative Methods 7 March 2016 Linear Programming Chapter 2: Basic Concepts Introduction Part A The Wyndor Glass Company Product
More informationExam A. To avoid the temptation to cheat on Exam A, you must agree to the following rules before taking your exam:
BA 452 Exam A Dr. Jon Burke This is a 100-minute exam (1hr. 40 min.). There are 5 questions (20 minutes per question). One of those questions involves solving a problem with a computer. You must turn in
More informationWind Turbine Project
Name: Date Hour Partner Name: Introduction: Alternative energy has been a hot topic in the last few years. We have seen more and more wind turbines and wind farms implemented to shift our main use of energy
More informationThis exam contains 15 pages (including this cover page) and 17 questions. Check to see if any pages are missing.
ECON 001 Fall 2016 Final Exam December 21, 2016 Time Limit: 120 Minutes Name (Print): Recitation Section: Name of TA: This exam contains 15 pages (including this cover page) and 17 questions. Check to
More informationChief Reader Report on Student Responses:
Chief Reader Report on Student Responses: 2017 AP Microeconomics Free-Response Questions Number of Students Scored 87,858 Number of Readers 92 Score Distribution Exam Score N %At Global Mean 3.26 5 20,614
More informationSPONSORSHIPS & PROMOTIONS
SPONSORSHIPS & PROMOTIONS VEHICLE DISPLAYS DETROIT 2018 BURTON MANOR CONFERENCE CENTER Sponsorship Opportunities Pages 1-3 Add Power to Your Vehicle Displays Detroit Exhibit with a Sponsorship Opportuntity
More informationSPONSORSHIPS & PROMOTIONS
SPONSORSHIPS & PROMOTIONS VEHICLE DISPLAYS DETROIT 2019 BURTON MANOR CONFERENCE CENTER Sponsorship Opportunities Pages 1-3 Add Power to Your Vehicle Displays Detroit Exhibit with a Sponsorship Opportuntity
More informationFinal Exam - Solutions
Econ 303 - Intermediate Microeconomic Theory College of William and Mary December 16, 2013 John Parman Final Exam - Solutions You have until 3:30pm to complete the exam, be certain to use your time wisely.
More informationEconomics 155/Earth Systems 112 Spring Final Exam
Economics 55/Earth Systems Spring 006-07 Final Exam Instructions Do not open this exam before it is time to begin. If you are a graduating, write Grad on your first bluebook so we can get your grades submitted.
More informationShort-Run Manufacturing Problems at DEC 2. In the fourth quarter of 1989, the corporate demand/supply group of Digital
Short-Run Manufacturing Problems at DEC 2 In the fourth quarter of 1989, the corporate demand/supply group of Digital Equipment Corporation (DEC) was under pressure to come up with a manufacturing plan
More informationManagerial Accounting Chapter 5
Managerial Accounting Chapter 5 It s really Economics Except we analyze entries to do the calculations Cost Behavior Analysis The study of how specific costs respond to changes in the level of business
More informationOptimization Prof. Debjani Chakraborty Department of Mathematics Indian Institute of Technology, Kharagpur
Optimization Prof. Debjani Chakraborty Department of Mathematics Indian Institute of Technology, Kharagpur Lecture - 39 Multi Objective Decision Making Decision making problem is a process of selection
More informationEconomics 230 Lab 4 Section 1 2 Due September 24 Fall 2010 WHOLE FARM BUDGET
Economics 230 Name Lab 4 Section 1 2 Due September 24 Fall 2010 WHOLE FARM BUDGET The purpose of this lab is to (a) learn how to prepare a whole farm budget for a hypothetical farming situation, and use
More informationMath142 Lecture Notes Optimization
c Jenn Whitfield & Marcia DrostOctober 3, 2007 1 Math142 Lecture Notes 5.6 - Optimization Today let s look at word problems which involve finding maximums or minimums. Note: the function to be maximized
More informationrig? ACTIVITY 5.6 b. Determine the population of Charlotte (in thousands) in 2002.
ACTIVITY 5.6 POPULATION GROWTH 581 OBJECTIVES ACTIVITY 5.6 Population Growth 1, Determine annual growth or decay rate of an exponential function represented by a table of values or an equation. 2. Graph
More informationCOMM 290 MIDTERM/FINAL EXAM REVIEW SESSION BY TONY CHEN
COMM 290 MIDTERM/FINAL EXAM REVIEW SESSION BY TONY CHEN TABLE OF CONTENTS I. Vocabulary Overview II. Solving Algebraically and Graphically III. Understanding Graphs IV. Fruit Juice Excel V. More on Sensitivity
More information12.3 Modeling with Linear Systems
Name Class Date 1.3 Modeling with Linear Sstems Essential Question: How can ou use sstems of linear equations or inequalities to model and solve contetual problems? Resource Locker Eplore Modeling Real-World
More informationUNIT 2: REASONING WITH LINEAR EQUATIONS AND INEQUALITIES
UNIT 2: REASONING WITH LINEAR EQUATIONS AND INEQUALITIES This unit investigates linear equations and inequalities. Students create linear equations and inequalities and use them to solve problems. They
More informationIt is useful to think of a price change as having two distinct effects, a substitution effect and an income effect. The substitution effect of a
It is useful to think of a price change as having two distinct effects, a substitution effect and an income effect The substitution effect of a price change is the change that would have happened if income
More informationIt is useful to think of a price change as having two distinct effects, a substitution effect and an income effect. The substitution effect of a
It is useful to think of a price change as having two distinct effects, a substitution effect and an income effect The substitution effect of a price change is the change that would have happened if income
More informationc) Will the monopolist described in (b) earn positive, negative, or zero economic profits? Explain your answer.
Economics 101 Summer 2015 Answers to Homework #4b Due Tuesday June 16, 2015 Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on
More informationExam 2 Review Problems (Hints and Answers) ECNS 204
Exam 2 Review Problems (Hints and Answers) ECNS 204 1.) Mutt and Jeff find themselves on a deserted island. The only two activities available are fishing and hunting rabbits. In a full day, Mutt can catch
More informationAPPENDIX A. THE MARKAL MODEL
APPENDIX A. THE MARKAL MODEL The analyses reported here are all made with the MARKAL model. MARKAL (acronym for MARKet ALlocation) is a dynamic, process oriented optimization model A. 1 Basic Principles
More informationCost-minimizing input combinations. Rush October 2014
Cost-minimizing input combinations Rush October 2014 Today s objectives Review marginal revenue productivity and firm resource demand Look at the optimal combination of resources for the competitive firm
More informationIntroduction to quantitative methods
Introduction to quantitative methods BSAD 30 Fall 2018 Agenda Introduction to quantitative methods Dave Novak Source: Anderson et al., 2015 Quantitative Methods for Business 13 th edition some slides are
More informationEconomics 11 Caltech Spring 2010
Economics 11 Caltech Spring 2010 Practice final This page left blank Following the Honor code, you should find 180 minutes and to do this test, by yourself and without using any notes. If you go over time
More informationMath 1314 Lesson 8 Business Applications: Break Even Analysis, Equilibrium Quantity/Price
Math 1314 Lesson 8 Business Applications: Break Even Analysis, Equilibrium Quantity/Price Three functions of importance in business are cost functions, revenue functions and profit functions. Cost functions
More informationBENCHMARK MA.6.A.3.2. Reporting Category
Grade MA..A.. Reporting Category BENCHMARK MA..A.. Algebra Standard Big Idea Write, interpret, and use mathematical expressions and equations. Benchmark MA..A.. Write, solve, and graph one- and two- step
More informationLecture : Applications of Maxima and Minima (Optimization) MTH 124
The motivation to minimize or maximize a function is strictly determined by the context of the problem. For example we may want to maximize the area of a fenced in area given a fixed amount of fencing
More informationConstant of Proportionality
Constant of Proportionality LAUNCH (6 MIN) Before How can you use the titles on the axes to help you understand the meaning of the graph? Does this graph show a proportional relationship? How can you tell?
More informationLinear programming A large number of decision pr
Linear programming A large number of decision problems faced by a business manager involve allocation of limited resources to different activities. Linear programming has been successfully applied to a
More informationWRITTEN PRELIMINARY Ph.D. EXAMINATION. Department of Applied Economics. University of Minnesota. June 16, 2014 MANAGERIAL, FINANCIAL, MARKETING
WRITTEN PRELIMINARY Ph.D. EXAMINATION Department of Applied Economics University of Minnesota June 16, 2014 MANAGERIAL, FINANCIAL, MARKETING AND PRODUCTION ECONOMICS FIELD Instructions: Write your code
More informationChapter 3: MARGINAL ANALYSIS FOR OPTIMAL DECISIONS. Essential Concepts
Solutions Manual Managerial Economics Foundations of Business Analysis and Strategy 12th Edition Thomas Maurice Completed downloadable package SOLUTIONS MANUAL for Managerial Economics 12th Edition by
More informationR = kc Eqn 5.1. R = k C Eqn 5.2. R = kc + B Eqn 5.3
5 Standard addition 5.1 Introduction An interference is anything that causes an analysis to be incorrect, which means in practice, that the measured concentration for the presented sample is wrong. There
More informationSITUATION ANALYSIS PERCEPTUAL MAP IDEAL SPOTS
SITUATION ANALYSIS The Situation Analysis will help your company understand the current market conditions and how the industry will evolve over the next eight years. There are five parts: Perceptual Map
More information*Remember to teach students to read inequalities from left to right. Which ever end they come to first is how it is read.
Equations Teacher Equations N.1: Understand numbers, ways of representing numbers, relationships among numbers, and number systems. 7.N.1.3 Use properties of the real-number system to explain reasoning
More informationMBF1413 Quantitative Methods
MBF1413 Quantitative Methods Prepared by Dr Khairul Anuar 9: Introduction to Linear Programming www.notes638.wordpress.com Content 1. Introduction 2. A Simple Maximization Problem 2 1. Introduction Linear
More informationARE UTILITY ECONOMIES OF SCALE REAL, OR A MIRAGE?
Energy/Utilities POINT OF VIEW MAY 212 ARE UTILITY ECONOMIES OF SCALE REAL, OR A MIRAGE? AUTHORS Alan Feibelman Michael Britt After 7 years of steady consolidation, there are real questions about the existence
More informationECONOMICS 1 - LECTURE 2 Suggested Answers to Problem Set #2
Department of Economics Prof. Kenneth Train University of California, Berkeley Fall Semester 2011 ECONOMICS 1 - LECTURE 2 Suggested Answers to Problem Set #2 1. a) The data given in the problem tells us
More informationFactors of Prodution. Unit 3: The Nature and Function of Factor Markets
Factors of Prodution Unit 3: The Nature and Function of Factor Markets 4 Factors of Production Labor Capital Land Entrepreneurship Factor Markets Factors of production (labor, capital, and land) are paid
More information9.7 Getting Schooled. A Solidify Understanding Task
35 9.7 Getting Schooled A Solidify Understanding Task In Getting More $, Leo and Araceli noticed a difference in men s and women s salaries. Araceli thought that it was unfair that women were paid less
More informationAnswer Key for homework 1. Review of Graphs and Formulas
Answer Key for homework 1 Review of Graphs and Formulas 1. a. question 2 on page3 The data lie along a straight line and (if economics enrollments are recorded along the vertical axis) the slope is.2,
More informationWe know that a line has the form y = mx + b, where m is the slope and b the y - intercept. With two points given, we can write:
Economics 102 Spring 201 Homework #1 Due: 2/11/201 Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the homework (legibly).
More informationProblem Set 4 Duality, Sensitivity, Dual Simplex, Complementary Slackness
Problem Set 4 Duality, Sensitivity, Dual Simplex, Complementary Slackness AM121/ES121 Fall 2018 Due 5:00 PM, Tuesday, October 16, 2018 Announcements The assignment is due by 5:00 PM, Tuesday, October 16,
More informationIntroduction to Management Science, 10e (Taylor) Chapter 4 Linear Programming: Modeling Examples
Introduction to Management Science, 10e (Taylor) Chapter 4 Linear Programming: Modeling Examples 1) When formulating a linear programming problem constraint, strict inequality signs (i.e., less than
More information