Let say you have 3 products: cake, candy, and bread. The revenue per cake is $8. The revenue per candy is $4. The revenue per bread is $5. Define the number of cake, candy, and bread you are about to produce per day as x, y, and z respectively. The manager wants that the number of cake accounts for at least 30% of the total production per day. What is the correct linear constraint to show this? Group of answer choices 0.3x – 0.7y – 0.7z ≥ 0 0.7x – 0.3y – 0.3z ≥ 0 0.7x – 0.3y – 0.7z ≥ 0 0.3x – 0.7y – 0.3z ≥ 0

Let say you have 3 products: cake, candy, and bread. The revenue per cake is $8. The revenue per candy is $4. The revenue per bread is $5. Define the number of cake, candy, and bread you are about to produce per day as x, y, and z respectively. The manager wants that the number of cake accounts for at least 30% of the total production per day. What is the correct linear constraint to show this? Group of answer choices 0.3x – 0.7y – 0.7z ≥ 0 0.7x – 0.3y – 0.3z ≥ 0 0.7x – 0.3y – 0.7z ≥ 0 0.3x – 0.7y – 0.3z ≥ 0

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter2: Mathematics For Microeconomics

Section: Chapter Questions

Problem 2.6P

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Let say you have 3 products: cake, candy, and bread. The revenue per cake is $8. The revenue per candy is $4. The revenue per bread is $5. Define the number of cake, candy, and bread you are about to produce per day as x, y, and z respectively. The manager wants that the number of candy is at least equal to the total number of cake and bread. What is the correct linear constraint to show this? Group of answer choices z – x – y ≥ 0 x – 2y – z ≥ 0 y – x – z ≥ 0 x – y – z ≥ 0
A company finds that there is a linear relationship between the amount of money that it spends on advertising and the number of units it sells. If it spends no money on advertising it sells 250 units. For each additional $2500 spent, an additional 25 units are sold. 1. If x is the amount of money that the company spends on advertising, find a formula for y, the number of units sold as a function of x. y= 2. How many units does the firm sell if it spends $25,000 on advertising? = ____ units 3. How many units does the firm sell if it spends $50,000 on advertising? = ____ units 4. How much advertising money must be spent to sell 700 units? = _____$ 5. Which of the following statements CORRECTLY explains the meaning of the slope? (select all as there may be more than one correct statment) A. If the company spends an additional $1000 on advertising, it will increases the number of units it sells by 10 . B. If the company increases the amount of money it spends on advertising by $250, it…
Let S represent the amount of steel produced (in tons). Steel production is related to the amount of labor used (L) and the amount of capital used (C) by the following function. S = 20L 0.30c0.70 In this formula L represents the units of labor input and C the units of capital input. Each unit of labor costs $50, and each unit of capital costs $100. (a) Formulate an optimization problem that will determine how much labor and capital are needed in order to produce 55,000 tons of steel at minimum cost. Min 50L + 100C s.t. ,0.300.70 20L = 55,000 L, C 2 0 (b) Solve the optimization problem you formulated in part (a). (Hint: When using Excel Solver, start with an initial L > 0 and C > 0. Round your answers to the nearest integer.) at (L, C) = ( 2467, 2880 2$
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Let say you have 3 products: cake, candy, and bread. The revenue per cake is $8. The revenue per candy is $4. The revenue per bread is $5. Define the number of cake, candy, and bread you are about to produce per day as x, y, and z respectively. What is the total revenue?
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