(a) A company expects fixed cost of $55,000. Margin is to be 46 percent of the retail. Variable cost in addition to costs of goods is estimated at $0.06 per dollars of sale. Find the profit function using s for sales volume. (b) Square Hospital Limited charges every COVID patient a fixed amount for using their ICU facilities. What would be the graphical nature of the demand function of ICU in this case ? (c) Write down the general form of the Augmented matrix of a system of Linear Equation which consists of 5 equations and 4 unknowns. (0.5 0.5 (d) Calculate the steady state vector for the given transition matrix: (e) Assuming the nonnegativity constraints for each variables, calculate the total number of corner points for the following system of inequalities:
(a) A company expects fixed cost of $55,000. Margin is to be 46 percent of the retail. Variable cost in addition to costs of goods is estimated at $0.06 per dollars of sale. Find the profit function using s for sales volume. (b) Square Hospital Limited charges every COVID patient a fixed amount for using their ICU facilities. What would be the graphical nature of the demand function of ICU in this case ? (c) Write down the general form of the Augmented matrix of a system of Linear Equation which consists of 5 equations and 4 unknowns. (0.5 0.5 (d) Calculate the steady state vector for the given transition matrix: (e) Assuming the nonnegativity constraints for each variables, calculate the total number of corner points for the following system of inequalities:
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:1. (a) A company expects fixed cost of $55,000. Margin is to be 46 percent of the retail. Variable cost in addition
to costs of goods is estimated at $0.06 per dollars of sale. Find the profit function using s for sales volume.
(b) Square Hospital Limited charges every COVID patient a fixed amount for using their ICU facilities. What
would be the graphical nature of the demand function of ICU in this case ?
(c) Write down the general form of the Augmented matrix of a system of Linear Equation which consists of 5
equations and 4 unknowns.
(d) Calculate the steady state vector for the given transition matrix:
(e) Assuming the nonnegativity constraints for each variables, calculate the total umber of corner points for the
following system of inequalities:
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