5.(Section 2.5)Consider an open economy with consumption matrix[1/2 1/4 1/4C= 1/2 1/8 1/41/2 1/4 1/8If the open sector demands the same dollar value from each product-producingsector, which such sector must produce the greatest dollar value to meet thedemand? Is the economy productive?

Answered: Image /qna-images/answer/5314d3d9-2b6a-474d-85bc-8cbefe2ebb22.jpg

Answered: Consider an open economy with…

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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Q2) Currently in a service location, there are 4 servers each able of processing 9 customers/hour. customers arrive at a rate of 40 customers per hour. Interarrival times and service times are exponentially distributed. The service cost is $10 and waiting cost is $7. They are considering three options. Option #2: Invested in training programs for the current 4 workers that made the workers serve on average 14 customers per hour. The service cost is $15 and waiting cost is $7. a) what is the notation for each system? b) is the system stable? why? c) What is the system characteristics. d) What is the Costs. e) What is the probability that 7 people are in the system?
(Note: This problem is similar to exercise 19 in section 6.3 (page 293) of your textbook.) Find the production schedule for the technology matrix and demand vector given below: A = X = 0.3 0.1 0 0 0.1 0 0.2 0.4 0 # # # 2 D= = 9 6 5
Suppose an economy has only two sectors: Goods and Services. Each year, Goods sells 80% of its outputs to Services and keeps the rest, while Services sells 60% of its output to Goods and retains the rest. Find equilibrium prices for the annual outputs of the Goods and Services sectors that make each sector's income match its expenditures. 0.2 Goods 0.8 0.6 Services Denote the prices (that is, dollar values) of the total annual outputs of the Goods and Services sectors by PG and Ps, respectively. If ps = $1000, then PG = $ (Type an integer or a decimal.) 0.4
1. Due to the quarantine, the demand for NineTendo On/Off console suddenly peaked and is expected to have the following demands for the next four quarters: 5million, 7million, 4million, and 5million units, respectively. The unit price starts at 20,000 and increase by 1,000 each quarter thereafter. The company Nine Tendo can supply no more than 7million units in any one quarter. Although, we can take advantage of lower prices in early quarters, a storage cost of 2,800 is incurred per unit per quarter. In addition, the number of units that can be held over from one quarter to the next must be 1.4million or less. Develop an LP to determine the schedule for purchasing the item to meet the demand while minimizing the cost.
This exercise requires the use of technology.Four sectors of the U.S. economy are (1) livestock and livestock products, (2) other agricultural products, (3) forestry and fishery products, and (4) agricultural, forestry, and fishery services. Suppose that in 1977 the input-output table involving these four sectors was as follows (all figures are in millions of dollars).Determine how these four sectors would react to an increase in demand for livestock (Sector 1) of $2,500 million, how they would react to an increase in demand for other agricultural products (Sector 2) of $2,500 million, and so on. (Round your answers to two decimal places. Let the columns of the matrix be given in millions of dollars.) To 1 2 3 4 From 1 11,937 9 109 855 2 26,649 4,285 0 4,744 3 0 0 439 61 4 5,423 10,952 3,002 216 Total Output 97,795 120,594 14,642 47,473 Answer will be 4x4 matrix.
Kelson Sporting Equipment, Inc., makes two different types of baseball gloves: a regular model and a catcher's model. The firm has 400 hours of production time available in its cutting and sewing department, 300 hours available in its finishing department, and 200 hours available in its packaging and shipping department. The production time requirements and the profit contribution per glove are given in the following table: Production Time (Hours) Cutting and Packaging and Model Sewing Finishing Shipping Profit/Glove Regular model 1/8 1 1/2 $5 Catcher's model 1/2 1/2 3/2 $7 Assuming that the company is interested in maximizing the total profit contribution, answer the following: (a) What is the linear programming model for this problem? If required, round your answers to 3 decimal places or enter your answers as a fraction. If the constant is "1" it must be entered in the box. Do not round intermediate calculation. If an amount is zero, enter "0". Let R = number of units of regular…
8. process consists of two machines only: A firm is producing two brass ornaments, a standard and a deluxe. The manufacturing Machine 1 Machine 2 Standard Model 1 Hour 1 Hour Deluxe Model 2 Hours 5 Hours There are 20 hours available on machine 1 and 35 hours on machine 2. The profit of £0.50 on the standard model and £1.50 on a deluxe model. that would maximise profit. firm makes a Determine the output
This exercise requires the use of technology.Four sectors of the U.S. economy are (1) livestock and livestock products, (2) other agricultural products, (3) forestry and fishery products, and (4) agricultural, forestry, and fishery services. Suppose that in 1977 the input-output table involving these four sectors was as follows (all figures are in millions of dollars).Determine how these four sectors would react to an increase in demand for livestock (Sector 1) of $1,000 million, how they would react to an increase in demand for other agricultural products (Sector 2) of $1,000 million, and so on. (Round your answers to two decimal places. Let the columns of the matrix be given in millions of dollars.) To 1 2 3 4 From 1 11,937 9 109 855 2 26,649 4,285 0 4,744 3 0 0 439 61 4 5,423 10,952 3,002 216 Total Output 97,795 120,594 14,642 47,473
ABC Corporation is considering three options for managing its data processing operation: continuing with its own staff, hiring an outside vendor to do the management (referred to as outsourcing), or using a combination of its own staff and an outside vendor. The profit of the operations depends on future demand. The annual profit of each option (in thousands of dollars) and for each state of demand is summarized in the following table: Staffing Options Own Staff Outside Vendor Combination High 650 900 800 Demand Medium 650 600 650 Low 600 300 400 1. If the manager of ABC Corporation is optimistic, which staffing option will he/she choose? 2. If the manager of ABC Corporation is conservative, which staffing option will he/she choose? 3. Suppose the probabilities of high, medium, and low demand are 40%, 10% and 50%, respectively. Using the expected value approach, which staffing option should the manager choose? 4. What is the expected value of perfect information?
4. A metal fabrication shop has a single punch press. There are currently three parts that the shop has agreed to produce that require the press, and it appears that they will be supplying these parts well into the future. You may assume that the press is the critical resource for these parts, so that we need not worry about the interaction of the press with the other machines in the shop. The relevant information is listed below: Part Number Annual Demand Setup Cost ($) Cost per unit ($) Production Rate per year 1 2,500 80 16 45,000 2 3 5,500 120 18 40,000 1,450 60 22 26,000 Holding costs are based on an 18 percent annual interest rate, and the products are to be produced in sequence on a rotation cycle. Setup times can be considered negligible. a. What is the optimal time between setups for part number 1? b. What percentage of the time is the punch press idle, assuming an optimal rotation cycle policy?
(b) Let xij be the amount shipped from source i to destination j in a 5X5 transportation problem, and let Cij be the corresponding transportation cost per unit. The amounts of supply at sources 1,2,3,4 and 5 are 210, 150,250,190 and 150 units respectively and the demands at destinations 1,2,3,4 and 5 are 205, 220,180,180 and 165 units respectively. The cost of shipping from source 1 to destinations 1,2,3,4 and 5 are 29, 28, 31, 27 and 32 respectively. The cost of shipping from source 2 to destinations 1,2,3,4 and 5 are 26, 27, 30, 37 and 31 respectively. The cost of shipping from source 3 to destinations 1,2,3,4 and 5 are 32, 38, 29, 27 and 35 respectively. The cost of shipping from source 4 to destinations 1,2,3,4 and 5 are 33, 39, 27, 29 and 33 respectively. The cost of shipping from source 5 to destinations 1,2,3,4 and 5 are 35,31, 34, 23 and 35 respectively. (i)Find the associated optimal cost. (ii)Determine each non basic variable.
Find the demand matrix for the following input-output and production matrices using the open model. 13 14 A = 0.4 0.4 0.3 0.5 X= The demand matrix is (Type an integer or decimal for each matrix element.)

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Consider an open economy with consumption matrix 1/2 1/4 1/4 C= 1/2 1/8 1/4 1/2 1/4 1/8] product-producing If the open sector demands the same dollar value from each sector, which such sector must produce the greatest dollar value to meet the demand? Is the economy productive?