Final Reduced Objective Allowable Allowable Zel Kame 93 Amount to produce Cotton Value 50 Dest Coefficient increase Decrease 50 29.93333338 S SOS Amount te produce en 125 60 166666666667 112.63157895 Constraints Cell Alame SES23 Storage DHS Final Shadow Value Price 175 Constraint Allowable Allowable R.H.Side Increase Decrease 180 1F+30 SES04 Weaving Stage 2 UHS 300 9.090909091 320 12 175 SESIS Weaving Stage 2 UMS 260 2727272727 260 24.44444444 57.89473884 SESTA Dyeing LHS 0 170 16+30 37.5 SES Quality Check UHS 715 0 100 d 22.3 b) Fill in the four empty spaces (indicated with letters a-d) in the Sensitivity Report (4 marks) off the company wanted to increase the available hours for one of the production processes by 10 hours, which one should they increase and why? (4 marks) 07:05

Final Reduced Objective Allowable Allowable Zel Kame 93 Amount to produce Cotton Value 50 Dest Coefficient increase Decrease 50 29.93333338 S SOS Amount te produce en 125 60 166666666667 112.63157895 Constraints Cell Alame SES23 Storage DHS Final Shadow Value Price 175 Constraint Allowable Allowable R.H.Side Increase Decrease 180 1F+30 SES04 Weaving Stage 2 UHS 300 9.090909091 320 12 175 SESIS Weaving Stage 2 UMS 260 2727272727 260 24.44444444 57.89473884 SESTA Dyeing LHS 0 170 16+30 37.5 SES Quality Check UHS 715 0 100 d 22.3 b) Fill in the four empty spaces (indicated with letters a-d) in the Sensitivity Report (4 marks) off the company wanted to increase the available hours for one of the production processes by 10 hours, which one should they increase and why? (4 marks) 07:05

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter12: Environmental Protection And Negative Externalities

Section: Chapter Questions

Problem 11SCQ: The state of Colorado requires oil and gas companies who use fracking techniques to retune the land...

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The state of Colorado requires oil and gas companies who use fracking techniques to retune the land to its original condition after the oil and gas extractions. Table 12.9 shows the total cost and total benefits (in dollars) of this policy. Calculate the marginal cost and the marginal benefit at each quantity (acre) of land restored. See Production. Costs and Industry Structure if you need a refresher on how to calculate marginal costs and benefits. If we apply marginal analysis, what is the optimal amount of land to be restored?
What is deflation?
Think back to a purchase that you made recently. How would you describe your thinking before you made that purchase?
The rules of politics are not always the same as the rules of economics. In discussions of setting budgets for government agencies, there is a strategy called closing the Washington Monument. When an agency faces the unwelcome prospect of a budget cut, it may decide to close a high-visibility attraction enjoyed by many people (like the Washington Monument). Explain in terms of diminishing marginal utility why the Washington Monument strategy is So misleading. Hint: If you are really trying to make the best of a budget cut, should you cut the items in your budget with tile highest marginal utility or line lowest marginal utility? Does the Washington Monument strategy cut the items with the highest marginal utility or line lowest marginal utility?
What is die difference between accounting and economic profit?
Consider two ways of protecting elephants from poachers in African countries. In one approach, the government sets up enormous national parks that have sufficient habitat for elephants to thrive and forbids all local people to enter the parks or to injure either the elephants or their habitat in any way. In a second approach, the government sets up national parks and designates 10 villages around the edges of the park as official tourist centers that become places where tourists can stay and bases for guided tours inside the national park. Consider the different incentives of local villagers-who often are very poor-in each of these plans. Which plan seems more likely to help the elephant population?
HighFlyer Airlines wants to build new airplanes with greatly increased cabin space. This will allow HighFlyer Airlines to give passengers more comfort and sell more tickets at a higher price. However, redesigning the cabin means rethinking many other elements of the airplane as well, like engine and luggage placement, and the most efficient shape of the plane for moving through the air. HighFlyer Airlines has developed a list of possible methods to increase cabin space, along with estimates of how these approaches would affect the planes operating costs and ticket sales. Based on these estimates, Table 13.5 shows the value of R, how much should the firm invest in R on top of the private return; that is, an R private return to HighFlyer Airlines would have a 9 social return. How much investment is socially optimal at the 6 interest rate?
Suppose a city releases 16 million gallons of raw sewage into a nearby lake. Table 12.8 shows the total costs of cleaning up the sewage to different levels, together with the total benefits of doing so. (Benefits include environmental, recreational, health, and industrial benefits.) Using the information in Table 12.8, calculate the marginal costs and marginal benefits of reducing sewage emissions for this city. See Production, Costs and Industry Structure if you need a refresher on how to calculate marginal costs. What is the optimal level of sewage for this city? Why not just pass a law that films can emit zero sewage? After all, the total benefits of zero emissions exceed the total costs.
What is productive efficiency? Allocative efficiency?
Becky and Sarah are sisters 1who share a room. Their room can easily get messy, and their parents am always telling them to tidy it. Here are the costs and benefits to both Becky and Sarah, of taking the time to clean their room: If both Becky and Sarah clean, they each spends two hours and get a clean room. If Becky decides not to clean and Sarah does all the cleaning, then Sarah spends 10 hours cleaning (Becky spends 0) but Sarah is exhausted. The same would occur for Becky if Sarah decided not to cleanâ€”Becky spends 10 hours and becomes exhausted. If both girls decide not to clean, they both have a dirty room. What is the best outcome for Becky and Sarah? What is the worst outcome? (It would help you to construct a prisoners dilemma table.) Unfortunately, we know that the optimal outcome will most liker not happen, and that the sisters probably will choose the worst one instead. Explain what it is about Beckys and Sarahs reasoning that will lead them both to choose the worst outcome.
What would the gasoline price elasticity of supply mean to UPS or FedEx?
Continuing from Exercise 7.1, the films factory sits on land owned by the firm that it could rent for 30,000 per year. What was the films economic profit last year?