1. A furniture company makes TABLE and CHAIR.. The companyhas a maximum of 110 hours of labor and 300 board feet (bf) ofwood. They make a profit of $6 per TABLE and $8 per CHAIR.Each TABLE requires 30bf of wood and 5 hour for labor. EachCHAIR requires 20 bf of wood and 10 hours of labor.Read the above scenario and answer the following questions.A. Formulate an appropriate LPP for the above scenarioto find the maximum profit.B. Solve the LPP using graphical method to find theoptimal solution.

1st we will find decision variables and then find LPP using those decision variables . Then solve…

Answered: 1. A furniture company makes TABLE and…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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2.b. Given a monopsony's production function Q = 45L - 0.25L², market wage function w = 10 + 3L, and price of the Q in the product market P = 10, calculate the extent of monopsonistic exploitation if firm is profit maximizing. Using your calculated values, graphically illustrate and discuss your results.
Please provide me a step by step solution And which option is correct
A firm faces the following total revenue and total cost functions: TR = 150 - 0.20² and TC = 60 + 0.1Q + 0.05Q². Determine the profit maximising level of output. 39.8 19.8 20.8 29.8
5) A factory owner has 100 employees that produce 6000 computers per day. For each additional employee that the owner highers, the average production per employee decreases by 8 computers. How many employees should the owner have in order to maximize production?
A local electricity company produces and distributes electricity to residential customers. The firm is a monopoly and it is regulated such that p = MC. The firm faces the following demand function: p = 800 – 2g and its total cost function is: C = 22500 + 200g + q². a) Find the deadweight loss that would result if this company was allowed to operate as a profit maximizing firm, compared to the situation under regulation. b) Calculate the Lerner index of Monopoly Power at the profit maximizing point.
b) A company finds that it can sell out a certain product that it produces, at the rate of 7 2 Tk.2 per unit. It estimates the cost function of the product to be Tk. 1000 + for x units produced. Find the number of units produced that will maximize profit. What is the amount of this maximum profit? What would the profit if 6000 units are produced?
Anna, Elsa, and Olaf are trying to decide how many hours per week to run the heater, which costs $30 per hour, in the castle where they all live together. Anna and Elsa's individual demand curves for hours of heat per week are given below: Anna: P = = 45 – ½Q Elsa: P = 30 –- 1/3Q Anna, Elsa, and Olaf can all agree that they don't value more than 90 hours of heat per week.
We want to build a 100 m² rectangular shed with covered area, with walls 4 meters high. Each square meter of wall (including material and labor) has an estimated cost of $1,200.00 (including the walls where doors and windows will be placed. What is the minimum possible cost of the walls in this shed?
Refer to the production possibilities curves for Chairland and Tableland. Chairland can produce 36 chairs per day and no tables, or 18 tables table per day and no chairs. Tableland can produce 40 chairs per day and no tables, or 40 tables per day and no chairs. If the two countries split the difference between the buyer's willingness to pay for tables and the seller's willingness to accept, in terms of the number of chairs for 1 table, the terms of trade will be . (Enter your response rounded to one decimal place.) Country Quantity per day Opportunity cost of chairs Opportuity cost of tables Tableland 40 chairs, 40 tables 1 table 1 chair Chairland 36 chairs, 18 tables 1/2 table 2 chairs

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