Obtain a specific level of utility at lowest possible cost

Reference no: EM13188855

the owner-manager of good guys enterprises obtains utility from income(profit)and from having the firm behave in a socially conscious manner, such as making charitable contributions or civic expenditures. can you set up the problem and derive the optimization conditions if the owner-manager wishes to obtain a specific level of utility at the lowest possible cost? do these conditions differ from the utility-maximizing conditions?

Reference no: EM13188855

Questions Cloud

Philippe has just completed medical school : Philippe has just completed medical school. In reflecting on his years of formal education, he is able to recall the names of all his instructors except the fifth-grade teacher who flunked him. According to Freud, his forgetting illustrates:

Why do you think sonny showed compassion : The movies are RESERVOIR DOGS1992, and DOG DAY AFTERNOON 1975. In my paper I have to answer the following: 1 why do you think Sonny showed compassion for his hostages?

How many seats should the airline sell : Given a cancellation rate of 10%, how many seats should the airline sell in order to minimize their expected losses?

What is the number : The product of 10 and a number, plus 12 is 52. What is the number? (Be sure to type only the number in the answer blank. No variables or words.)

Obtain a specific level of utility at lowest possible cost : the owner-manager of good guys enterprises obtains utility from income(profit)and from having the firm behave in a socially conscious manner, such as making charitable contributions or civic expenditures. can you set up the problem and derive the ..

How much would she have to invest annually : Jackie, a 25 year old client, want to retire by age 65 with $2,000,000. How much would she have to invest annually, assuming a 6% rate of return?

Find the equation of a sphere of radius : Find the equation of a sphere of radius 3 which is tangent to both the planes x-2y+2z=3 and 3x+4z=8

What is the assembly force constant : It takes a force of 21,714 lb to compress a coil spring assembly on a New York City Transit Authority subway car from its free height of 8in. to its fully compressed height of in.

Describe which representation may be more suitable : A vector can be used to represent the path of a drill tip used to bore a deep mine shaft in Sudbury one quarter of the way to the centre of the Earth. Represent the vector using a directed line segment and Cartesian co-ordinates and describe which..

User Account

All Pages