Engineering Economy Plus Mylab Engineering With Pe Format: Cloth Bound With Access Card
17th Edition
ISBN: 9780134873206
Author: Sullivan, William G.^wicks, Elin M.^koelling, C. P
Publisher: Prentice Hall
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Textbook Question
Chapter 14, Problem 14P
The additive weighting model is a decision tool that aggregates information from different independent criteria to arrive at an overall score for each course of action being evaluated. The alternative with the highest score is preferred.
The general form of the model is
where
Vj = the score of the jth alternative;
ωi = the weight assigned to the ith decision attribute (1 ≤ i ≤ n);
xij = the rating assigned to the ith attribute, which reflects the performance of alternative j relative to maximum attainment of the attribute.
Consider Table P14-14 (p. 597) in view of these definitions and determine the value of each “?” shown. (14.7)
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Use the following table to work Problems 5 to 9.
Minnie's Mineral Springs, a single-price monopoly,
faces the market demand schedule:
Price
Quantity demanded
(dollars per bottle)
10
8
(bottles per hour)
0
1
6
2
4
3
2
4
0
5
5. a. Calculate Minnie's total revenue schedule.
b. Calculate its marginal revenue schedule.
6. a. Draw a graph of the market demand curve
and Minnie's marginal revenue curve.
b. Why is Minnie's marginal revenue less than
the price?
7. a. At what price is Minnie's total revenue maxi-
mized?
b. Over what range of prices is the demand for
water from Minnie's Mineral Springs elastic?
8. Why will Minnie not produce a quantity at which
the market demand for water is inelastic?
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Chapter 14 Solutions
Engineering Economy Plus Mylab Engineering With Pe Format: Cloth Bound With Access Card
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