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1. Write linear constraints with continuous and integer variables for the following problems. You need to clearly de?ne the variables that you introduce and give an explanation of your constraints. (a) If we invest $100 or more on project 1, then we can only invest at most $100 on project
2. Suppose the investment amount on each project is a continuous variable. (b) If two continuous variables x1,xz satisfy the linear constraint x1 +x2 < 1, then they also need to satisfy x1 - x2 2 1. Plot the feasible region of (161,162) that satis?es the above if-then statement. Is this feasible region a convex set? Now use linear constraints with continuous and integer variables to model this if-then statement. Define all the variables you need and explain the constraints that you write down.
Pete’s Pie Shop is a perfectly competitive firm. If the total output of pies in Pete’s Pie Shop increases from 20 per hour to 30 per hour as he hires the second worker, then. Every time Pete makes another pie in his shop, he uses $1.20 worth of pastr..
What is Freedom? How Can we be free? Carefully explain what the concept of freedom is according to each thinker (If a thinker has more than one conception of freedom be sure to explain each conception). Then explain each thinkers theory of how we can..
Suppose that in response to a severe recession a country with an overvalued currency and a fixed exchange rate does, in fact, move to a floating exchange rate system. This move to a floating exchange rate will cause the exchange rate to:
Describe competency models, case-based decision making, and systems thinking.
There are 2 fishermen, Zach and Jacob, who fish along a certain coast. Both would benefit if lighthouses were built along the coast where they fish. The marginal cost of building each additional lighthouse is $25. The demand curves for lighthouses ar..
It charges $70 per unit and the average variable costs are $25 and the average costs are $65. What should the firm do in the short run?
When should this item be reordered. What could be the risk of stockout would result from a decision not to have any safety stock.
There is a saying among bank examiners (people working for government regulators who inspect the condition of banks),
Why is the number of unemployed lower than the number of people available to work?
In December 2017, Congress passed a substantial decrease in taxes. Assume economy starts out at potential output.
Write one page powerpoint style on how current commodity prizes are impacting globla economy. Please touch on 3-4 commodities in you powerpoint.
Express the production function in per worker terms. Thus, y = f (k) where y = Y/L and k=K/L. Suppose that both countries start off with a capital stock per worker of 2 (i.e. k = 2). What are the levels of income per worker and consumption per worker..
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