User Account

All Pages

Formulate, graph, and solve this decision problem

Assignment Help Microeconomics
Reference no: EM13879731

An athlete carefully watches her intake of calcium, protein, and calories. Her breakfast diet consists mainly of milk and cereal, whose prices and nutrient contents appear in the following table:

 

 

 

Calcium

 

Milk (1 oz.)

2

 

Cereal (1 oz.)

2

Protein

2

6

Calories

6

2

Price

$.10

$.15

She seeks a diet that supplies at least 50 units of calcium, 90 units of protein, and 66 calories at minimum cost.

a. Formulate, graph, and solve this decision problem. What is the minimum cost of meeting the nutrient requirements?

b. Calculate and provide an economic interpretation of the shadow price associated with calcium.

Reference no: EM13879731

Questions Cloud

Differences between cost-based and value-based pricing? : What are the differences between cost-based and value-based pricing?
Why have supply chain management issues : Why have supply chain management issues often been ignored by senior management?   How would you convince senior management to focus more attention on supply chain management? (Please incorporate examples drawn from the required readings.)
Advantage of using new common stock financing compared : advantage of using new common stock financing compared to new debt financing?
How you think these sub-climates affect political climate : Describe at least two "pockets of politics" that you believe exist in your organization or in an organization with which you are familiar. Explain how you think these sub-climates affect the political climate of the organization
Formulate, graph, and solve this decision problem : Formulate, graph, and solve this decision problem. What is the minimum cost of meeting the nutrient requirements?
Review the currency exposure of that countrys firm or mnc : Country risk and  retrospectively monitor spot foreign exchange rates over a continuous period of time, review the currency exposure of that country's firm or MNC*, present the information to the reader in a concise and clear manner.
Compute the temperature at point : A large billet of steel initially at 260°C is placed in a radiant furnace where the surface temperature is held at 1200°C. Assuming the billet is infinite in extent, compute the temperature at point P shown in the accompanying sketch after 25 min ..
What are two items regarding the manufacturing process : What type of process design do they use: Make to Order, Make to Stock, or Batch? What are two items regarding the manufacturing process related to the organization that the team finds unique or interesting
Financial statements of hollingsworth industries : At December 31, 2013, the financial statements of Hollingsworth Industries included the following:

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd