(1) Use the least cost method to find an initial feasible solution (5%)

2. University Students have a choice of living in residence at the university or in private accommodation. The demand for university residence is shown below. The university has 1100 spaces at $200 each, per week, and cannot build more accommodation in the short run. Price per week (S) 300 280 260 240 220 210 200 190 180 Number of students per week 300 420 500 580 650 800 1200 1600 2000 a. What problem results from the current pricing policy? b. How can the problem be solved? c. Estimate the market-clearing price. d. Suppose now that prices from private accommodation and transportation increase, while the prices of university rooms remain unchained. How will these price increases affect demand for university accommodation?

Scenario One: An 86-year widow comes in monthly to have her blood drawn and monitored ever since her heart attack 2 years ago. Her husband has recently passed away and she has no family nearby to help her. She has Medicare but does not have supplemental insurance to cover office visits. When leaving the office today, she starts to cry and tell you that she can no longer afford her blood pressure medications, cholesterol medications, blood work, and office visits each month. She will not be able to get her medications refilled unless she sees the doctor and has blood work each month. She currently owes $180 on her account today. Scenario 2: A 19-year-old mother of 3 children, all under the age of 5, brings in all of the kids today for their recommended check-ups and vaccinations. She does not have insurance for any of the children as she was denied Medicaid based on a previous fraud. She has been diligent paying for the children’s healthcare, with assistance from a grandmother, but she…

The list price of the snow blower is $200 less 25%, 10%, less 5%.  There is a 2% cash discount offered for your payment in 10 days. What is the amount to be remitted if the cash discount is earned?