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Business Administration students are offered a matrix algebra course that is taught in 12 class hours and a linear programming (PL) course that is taught in 20 class hours. The math department requested that the matrix algebra course be divided into 5 or more topics, and the PL course be divided into 8 or more topics. In the summer, no more than 400 class hours are available. The courses are taught by two advisors, the one who teaches the subjects related to matrix algebra charges €2,400 pesos and the one who teaches the LP subjects charges €7,650 pesos. For these two courses to take place, more than 21 students must be enrolled. Formulate an LP model that determines the minimum number of LP and matrix algebra courses that can be taught at the University.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..
Explain each of the following using supply and demand diagrams, With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.
The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.
Draw the production possibility curve and a. Define consumer surplus and producer surplus.
The Australian government administers two programs that affect the market for cigarettes
How many tickets to sell to maximize total welfare.
The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled
Depict the von Neumann-Morgenstern utility index u in a diagram
What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution
Calculate gross national product and net national product
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