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Question: Suppose that the weekly production function takes the form X = 2L + K, with the firm facing a weekly wage rate of £100 and capital rentals of £300.
(a) Will the firm use any labour at all in the production process?
(b) Suppose that output of X is 500 units per week. What are marginal costs? What are average costs?
(c) Suppose that the wage rate increases by 60 per cent. What happens to the cost of production? What happens to average and marginal cost?
Why not use a multi period planning model? How can one study the dynamic issues associated with developing the proposed fleet for 1982?
Suppose that a particular light bulb is advertised as having an average lifetime of 2,000 hours and is known to satisfy an exponential failure law.
Formulate a linear programming problem to minimize total cost for this transportation problem. Solve the linear programming formulation from part (a) by using either Excel or QM for Windows. Find and interpret the optimal solution and optimal value..
A person's utility function (U) is given by the following expression: U(x,y) = (x + 2)(y + 1)- Write the LaGrange function for this problem
A process is monitored using an X? chart with UCL = 13.8 and LCL = 8.2. The process standard deviation is estimated to be 6.6. If the X? chart.
Question 1: When comparing two population means with an unknown standard deviation you use a t test and you use N-2 degrees of freedom.
During each quarter, the company loses 15% of its personnel (including secretaries trained in the previous quarter). Formulate the problem as a linear-programming problem.
Let p be a nonzero polynomial with nonnegative coefficients, ? ⊂ C a bounded open region, ?¯ its closure, and f: ?¯ → C a continuous function analytic on ?. Prove that the function p(|f(z)|) achieves a maximum on the boundary ∂?. Find the number ..
Decimal to Binary: Complete the following table to practice converting a number from decimal notation to binary format. Mark each hexadecimal number with h
Draw a tree diagram to illustrate the different possibilities. In hoe many ways will the 2nd , 3rd, and 4th coins all turn heads.
The panel box supplies 120 volts. The electrician is using No. 12 solid copper-coated wire. What is the approximate voltage delivered to the saw? And what is the approximate voltage drop from the house to garage if No. 10 gage solid copper-coated ..
SMQ1024 PROGRAMMING IN MATHEMATICS write a program to solve the following questions Compute the determinant of matrix A and compute elements of vector X
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