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- You are managing sports apparel sales. The way contracts are writlen, you purchase the rights to buy a fixed block of copyrighted materials for a negotiated price for a given yoar. You then sell these materials through your channels and try to make the moat possible. Apparel sales are automated through online channels so the additional cost of selling a given unit is negligible. In other words, the cost structure is relatively fixed no matter how many units you sell. What is an aporopriate optimization target for this type of cost structure and what will elasticity equal if you optimize prices well?1. ThedemandfunctionforagoodisgivenbytheequationP=a−bQwhilethetotalcost function is TC = dQ2 + eQ + f, where a, b, d, e and f are positive constants. (a) Derive the equation for profit.(b) Derive an expression for the value of Q for which profit is maximised.A small manufacturing plant makes three types of inflatable boats: one person, two-person,and four-person models. Each boat requires the services of three departments, as listed in thetable. The cutting, assembly, and packaging departments have available a maximum of 380,330, and 120 labor-hours per week, respectively.Department One-PersonBoatTwo-PersonBoatFour-PersonBoatCutting 0.5 hr 1.0 hr 1.5 hrAssembly 0.6 hr 0.9 hr 1.2 hrPackaging 0.2 hr 0.3 hr 0.5 hra) Calculate how many boats of each type must be produced each week for the plant tooperate at full capacity.b) Calculate how is the production schedule in part (a) affected if the packagingdepartment is no longer used.c) Calculate how is the production schedule in part (a) affected if the four-person boat isno longer produced
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- Systems applicationSolve and analyze the following problems. Make sure all the steps are properly justified. Correctly use mathematical notation or terminology. Interpret the solution in the context of the problem.Suppose the supply and demand equations for printed shirts for a graduating class are given byp = 0.7q + 3p = -1.7q +15where p is the price in dollars and q is the quantity in hundreds.Determine supply and demand if the shirts cost $ 9.00. Analyze and discuss the stability of the shirt market at this price level. Prepare the graph of the two equations in the same coordinate system and identify the equilibrium point, the supply curve, and the demand curve.DrivingNowhere is producing automobile spare parts. Consider the following data to answer below given questions. Annual demand 30500 Daily demand 100 Daily production 800 Desired lot size 200 Holding cost per uit per year $10 (a) Compute the setup cost so as to comply with the desired lot size. (b) Compute the setup time if hourly setup labor cost is $40.ary Test Locked mode is on. To avoid losing your progress, comple newl985@s.acsdsc.org Required money-making financially successful * slum O infrastructure Oprofitable prosperous A sudden attempt by a small group of people to take over the g usually through violence. venue Coup eybean