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- Please help me answer the following question in the attachment. Thank you.1. Explain the decisions taken for an individual product.Suppose you have a linear optimization model where you are trying to decide which products to produceto maximize profit. Answer the following questions and be as specific as possible.(a) What does the additive assumption imply about the profit objective? (b) What does the proportionality assumption imply about the profit objective? (c) Can you think of any reasonable profit functions that would not be linear in the amounts of theproducts produced?
- It is known that the indifference curve is convex. What does this tell you about the relationship between the goods? 2. Using examples, does an increase in income affect a consumer’s budget line? Does it impact their total utility. 3.You are interested in starting a coffee shop at the University of the West Indies. Provide examples with explanations of explicit costs, implicit cost and sunk costs related to this business.(a) What do you mean by inventory carrying cost and ordering cost? Explain with examples. 2(b) Mr Mahmud operates a cosmetics shop at Dhanmondi. The annual demand for soap is 2,500 units. The setup cost is Tk.15 per order. The material cost per unit Tk.3 and the holding cost 10% of average inventory.. a) What is the optimum number of units per order? (Use EOQ formula)b) What is the expected number of orders per year if management considers the followings units for order placement: 100 units, 250 units, 500 units and 1250 units?(Use comparative tabular format)6. Using Marginal Utility analysis, carefully explain why the Demand Curve for a given product is sloping downward.
- Course dashboard Soru 12 SCENARIO 1: You are the owner and the only employee of a company that writes computer software that is used by gamblers to collect sports data. Last year you earned a total revenue Henüz cevaplanmadı of $90,000. Your costs for equipment, rent, and supplies were $60,000. To start this business 4 üzerinden you invested an amount of your own capital that could pay you a return of $40,000 a year işaretlenmiş Refer to Scenario 1. Your economic profit last year was P Soruyu işaretle Lütfen birini seçin: O A. - $ 10000 O B. $ 30000 O C -$ 30000 O D.-$ 40000 O E$10000 SONRAKİ SAYFA ÖNCEKİ SAYFAIntermediate Microeconomics Problem 1: Suppose two goods are perfect complements and the price of good x increases. (a) Draw indifference curves and budget lines to show the initial and new equilibrium. (12) (b) What is the total effect resulting from the price increase of good x?(c) What is the income effect resulting from the price increase of good x?(d) What is the substitution effect resulting from the price increase of x?(e) Provide an intuitive explanation for your answers in (b)-(d).(f) Sketch the consumer’s Marshallian demand curve for good x. Label clearly the pointsthat you used in deriving your graph and label this curve Dm.Please answer all the questions. Thanks in Advance.(a) Explain with the help of a graph the effect of an increase in the relative price of a labor-intensive good on input choice. (b) “Generally, an economy will tend to be relatively effective atproducing goods that are intensive in the factors with which the country is relatively wellendowed.” Explain the above statement with the help of a graph.
- Theory as model building A firm's supply depends on the prices of the good and of the materials used to make it: Qs = −6+ 0.8P 2Pm (d) The price of materials is Pm = 7. Find the optimal quantities to produce if the price of the good is P = 50 and P = 60. Graph the supply curve. (e) Now the price of materials changes to Pm,1 12. Find the optimal quantities to produce if the price of the good is P = 50 and P = 60. Show the shift of the supply curve on a graph. =A. At XYZ Restaurant, which sells only pepperoni pizza, has the cost profile: [Note that variable costs are per pizza] Fixed Costs Variable Costs General $1,500 Flour $0.50 Labor Rent $3,000 Yeast s0.05 Insurance $200 Water $0.01 Advertising $500 Cheese $3.00 $450 Pepperoni $2.00 Utitilies Total $5,650 Total $5.56 Based on the total variable expenses per pizza, we now know that XYZ Restaurant must price its pizzas at $5.56 ($0.50 + $0.05 + $0.01 + $3.00 + $2.00) or higher just to cover those costs. We also know that if the pizzeria charges $10 for the finished product, then it receives $4.44 per pizza to contribute to the fixed costs and ultimately the restaurants overall profits. Question: How many pizzas does XYZ Restaurant need to sell at $10 each to cover all those fixed monthly expenses?Economics ASAP) Average waiting time for ordering is 2minutes. However, in peak - hours, the timeincrease up to 6 minutes. Around 2- 4 people in line during thenormal time, and in the peak- hours, about4 - 6 people in the line for ordering. Customers usually wait 8 minutes to get their orders. In No peak- hour, No customers in the line.In No peak- hour, It took 3 minutes to getthe order. {ONLY ONE CASHIER AND ONE BARISTA CAN U CALCULATE THE ARRIVAL RATE,SERVICE RATE (CASHIER), SERVICE RATE (BARISTA)? AND BOTTLE NECK }