y > 2x! 4 0 > 2(0)! 4
|
|
- Cory Terry
- 5 years ago
- Views:
Transcription
1 y > 2x! 4 0 > 2(0)! 4? 0 >!4 y x
2 y! " 1 3 x + 3 y 6 0! x
3 y > 2x! 4 0 >? 2(0)! 4 0 >!4 y 6 y! " 1 3 x + 3 0! x
4 Linear Programming A School Board is investigating various ways of composing the faculty for a proposed new elementary school. They can hire teachers and aids. The amount of money the school district will have to spend on salaries each year depends on how many teachers and how many aids are hired. Let t = number of teachers hired. Let a = the number of aids hired. Let d = the number of thousands of dollars spent annually on faculty salaries. The board finds that the average teacher s annual salary is $35,000, and the average aide s salary is $25, Write an equation for the amount of money spent on salaries annually. d = 35t + 25a Therefore d is a function of two independent variables, t and a. The domain of this function is the set of all ordered pairs, (t, a) that fit the situation.
5 d = 35t + 25a Suppose that the Board finds the following requirements concerning the numbers of teachers and aides. i. The building can accommodate no more than 50 faculty members, total. ii. t + a 50 A minimum of 20 faculty members is needed to staff the school. t + a 20 iii. The school can not be run entirely by aides, so there must be at least 12 teachers. t 12 iv. For a proper teacher-to-aide ratio, the number of teachers must be at least half the number of aides. t (1/2)a v. It is impossible to hire a negative number of teachers or aides. t 0 and a 0
6 50 a t + a 50 t + a 20 t 12 t (1/2)a 2t a a 2t Feasible Region t
7 The school can spend at most 1 million dollars annually on salaries. Minimize the overall cost. a t t + a 50 t + a 20 t 12 a 2t 35t + 25a = d 35t + 25a 1000 t = 12 and t + a = a = 20 a = 8 (t, a) = (12, 8) This is the Optimum Point d = 35(12) + 25(8) = = 620 The minimum (optimal) cost is $620,000.
8 The school can spend at most 1 million dollars annually on salaries. Maximize the feasible cost. a t t + a 50 t + a 20 t 12 a 2t 35t + 25a = d 35t + 25a 1000 t + a 50 and a = 0 t + 0 = 50 t = 50 (t, a) = (50, 0) This is the Optimum Point d = 35(50) + 25(0) = = 1750 The maximum feasible cost is $1,750,000.
9 Liela Tov bakes cookies for her high school cookie sale. Her chocolate chip cookies sell for $3 a dozen, and her oatmeal brownie cookies sell for $4.50 a dozen. She will bake up to 20 dozen chocolate chip cookies, and up to 40 dozen oatmeal brownie cookies, but no more than 50 dozen cookies, total. Also, the number of oatmeal brownie cookies will be no more than three times the number of chocolate chip cookies. How many of each kind should Liela make in order for the high school to make the most money? How much money will this be?
10 Liela Tov bakes cookies for her high school cookie sale. Her chocolate chip cookies sell for $3 a dozen, and her oatmeal brownie cookies sell for $4.50 a dozen. Let c = a dozen chocolate chip cookies. Let b = a dozen oatmeal brownie cookies. Let P = profit 3c + 4.5b = P
11 She will bake up to 20 dozen chocolate chip cookies, and up to 40 dozen oatmeal brownie cookies, but no more than 50 dozen cookies, total. Also, the number of oatmeal brownie cookies will be no more than three times the number of chocolate chip cookies. Let c = a dozen chocolate chip cookies. Let b = a dozen oatmeal brownie cookies. Let P = profit c 20 b 40 c + b 50 b 3c
12 How many of each kind should Liela make in order for the high school to make the most money? How much money will this be? 55 b Let c = a dozen chocolate chip cookies. Let b = a dozen oatmeal brownie cookies. Let P = profit Liela should make 12.5 dozen chocolate chip cookies and 37.5 dozen oatmeal brownie cookies to make a maximum profit of $ c 3c + 4.5b = P c 20 b 40 c + b 50 b 3c c 3c + b + = 4.5b 50 = b = 50 b 3c = 3c + 4.5b = 120 b = 37.5 c + 3c = 50 3(12.5) + 4.5(37.5) = c = 50 c = 12.5
Linear Programming. C. Plot the graph of the system in part (B). Lightly shade the intersected areas.
Linear Programming 1. Define 3 variables. 2. Write a statement that tells what is to be maximized or minimized. 3. List the constraints (restrictions). 4. Label the axes. a. Graph the constraints (mostly
More informationPre-Calculus Midterm Exam REVIEW January 2013
Pre-Calculus Midterm Eam REVIEW Januar 0 Name: Date: Teacher: Period: Your midterm eamination will consist of: 0 multiple-choice questions (including true/false & matching) these will be completed on the
More informationGrade 9 Math Practice Midterm Examination. 1. Which of the following numbers is a perfect square number? a) b) c) 4.9 d) 490.
Section One: Selected Response Grade 9 Math Practice Midterm Examination 1. Which of the following numbers is a perfect square number? a) 0.0049 b) 0.049 c) 4.9 d) 490 2. What is the square root of 36
More informationEastern Mediterranean University Faculty of Business and Economics Department of Economics Spring Semester
Eastern Mediterranean University Faculty of Business and Economics Department of Economics 2015 16 Spring Semester ECON101 Introduction to Economics I Second Midterm Exam Duration: 90 minutes Type A 23
More informationContinuing Education Course #287 Engineering Methods in Microsoft Excel Part 2: Applied Optimization
1 of 6 Continuing Education Course #287 Engineering Methods in Microsoft Excel Part 2: Applied Optimization 1. Which of the following is NOT an element of an optimization formulation? a. Objective function
More informationSetting Up Linear Programming Problems
Setting Up Linear Programming Problems A company produces handmade skillets in two sizes, big and giant. To produce one big skillet requires 3 lbs of iron and 6 minutes of labor. To produce one giant skillet
More informationFalse_ The average revenue of a firm can be increasing in the firm s output.
LECTURE 12: SPECIAL COST FUNCTIONS AND PROFIT MAXIMIZATION ANSWERS AND SOLUTIONS True/False Questions False_ If the isoquants of a production function exhibit diminishing MRTS, then the input choice that
More informationThe homework is due on Wednesday, September 7. Each questions is worth 0.8 points. No partial credits.
Homework : Econ500 Fall, 0 The homework is due on Wednesday, September 7. Each questions is worth 0. points. No partial credits. For the graphic arguments, use the graphing paper that is attached. Clearly
More informationAssignment 2 Answers Introduction to Management Science 2003
Assignment Answers Introduction to Management Science 00. a. Top management will need to know how much to produce in each quarter. Thus, the decisions are the production levels in quarters,,, and. The
More informationFinal Examination December 14, Economics 5010 AF3.0 : Applied Microeconomics. time=2.5 hours
YORK UNIVERSITY Faculty of Graduate Studies Final Examination December 14, 2010 Economics 5010 AF3.0 : Applied Microeconomics S. Bucovetsky time=2.5 hours Do any 6 of the following 10 questions. All count
More informationMath1090 Midterm 2 Review Sections , Solve the system of linear equations using Gauss-Jordan elimination.
Math1090 Midterm 2 Review Sections 2.1-2.5, 3.1-3.3 1. Solve the system of linear equations using Gauss-Jordan elimination. 5x+20y 15z = 155 (a) 2x 7y+13z=85 3x+14y +6z= 43 x+z= 2 (b) x= 6 y+z=11 x y+
More informationOnline Shopping Intermediaries: The Strategic Design of Search Environments
Online Supplemental Appendix to Online Shopping Intermediaries: The Strategic Design of Search Environments Anthony Dukes University of Southern California Lin Liu University of Central Florida February
More informationPractice Problems 1: Moral Hazard
Practice Problems 1: Moral Hazard December 5, 2012 Question 1 (Comparative Performance Evaluation) Consider the same normal linear model as in Question 1 of Homework 1. This time the principal employs
More informationAlgebra with Calculus for Business: Review (Summer of 07)
Algebra with Calculus for Business: Review (Summer of 07) 1. Simplify (5 1 m 2 ) 3 (5m 2 ) 4. 2. Simplify (cd) 3 2 (c 3 ) 1 4 (d 1 4 ) 3. 3. Simplify (x 1 2 + y 1 2 )(x 1 2 y 1 2 ) 4. Solve the equation
More informationSetting Up Linear Programming Problems
Setting Up Linear Programming Problems A company produces handmade skillets in two sizes, big and giant. To produce one big skillet requires 3 lbs of iron and 6 minutes of labor. To produce one giant skillet
More informationContinuing Cookie Chronicle
1 CCC1 Natalie Koebel spent much of her childhood learning the art of cookiemaking from her grandmother. They spent many happy hours mastering every type of cookie imaginable and later devised new recipes
More informationGolden rule. The golden rule allocation is the stationary, feasible allocation that maximizes the utility of the future generations.
The golden rule allocation is the stationary, feasible allocation that maximizes the utility of the future generations. Let the golden rule allocation be denoted by (c gr 1, cgr 2 ). To achieve this allocation,
More informationPFL Math 4.10B: calculate profit in a given situation
Lesson Description This lesson continues with characters from Mr. Cash s fourth grade class. The students want to raise money for the playground fund at Capital Elementary School. Students are to determine
More informationLP OPTIMUM FOUND AT STEP 2 OBJECTIVE FUNCTION VALUE
The Wilson Problem: Graph is at the end. LP OPTIMUM FOUND AT STEP 2 1) 5520.000 X1 360.000000 0.000000 X2 300.000000 0.000000 2) 0.000000 1.000000 3) 0.000000 2.000000 4) 140.000000 0.000000 5) 200.000000
More informationReview for Test 3: Linear Functions
Name: Date: Period: Review for Test 3: Linear Functions Slope Formula: y 2 y 1 x 2 x 1 1. Graph the line that passes through the given points. Then identify the slope, whichever intercept is asked for,
More informationIn Jormungand, Koko Hekmatyar is an arms dealer. Suppose she faces the market for Javelin ATGM missiles, and the demand is given by Px = 10,000-2Qx.
Economics 101 Fall 2012 Homework #3 Due 11/06/2012 Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the homework (legibly).
More informationHomework 2 ECN205 Spring 2011 Wake Forest University Instructor: McFall
Homework 2 ECN205 Spring 2011 Wake Forest University Instructor: McFall Instructions: Answer the following problems and questions carefully. Just like with the first homework, I ll call names randomly
More informationMath 1101 Exam 1 Practice Problems
Math 1101 Eam 1 Practice Problems These problems are not intended to cover all possible test topics. Rather, the should serve as an activit in preparing for our test, but other stud is required to full
More informationQuadratic Modeling Elementary Education 10 Business 10 Profits
Quadratic Modeling Elementary Education 10 Business 10 Profits This week we are asking elementary education majors to complete the same activity as business majors. Our first goal is to give elementary
More information19 Decision Making. Expected Monetary Value Expected Opportunity Loss Return-to-Risk Ratio Decision Making with Sample Information
19 Decision Making USING STATISTICS @ The Reliable Fund 19.1 Payoff Tables and Decision Trees 19.2 Criteria for Decision Making Maximax Payoff Maximin Payoff Expected Monetary Value Expected Opportunity
More informationSection 1.1 Notes. May 29, 2018
Section 1.1 Notes May 29, 2018 Mathematical Models Goal: Recall the following facts about lines: 1) Equation: 2) Slope: 3) x-intercept: 4) y-intercept: Definition 1. Let D and R be two collections of objects.
More informationMathematics for Management Science Notes 07 prepared by Professor Jenny Baglivo
Mathematics for Management Science Notes 07 prepared by Professor Jenny Baglivo Jenny A. Baglivo 2002. All rights reserved. Calculus and nonlinear programming (NLP): In nonlinear programming (NLP), either
More informationLecture 11 - Business and Economics Optimization Problems and Asymptotes
Lecture 11 - Business and Economics Optimization Problems and Asymptotes 11.1 More Economics Applications Price Elasticity of Demand One way economists measure the responsiveness of consumers to a change
More informationTopic 4b Competitive consumer
Competitive consumer About your economic situation, do you see the light at the end of the tunnel? I think the light at the end of the tunnel has been turned off due to my budget constraints. 1 of 25 The
More informationPORTFOLIO OPTIMIZATION AND EXPECTED SHORTFALL MINIMIZATION FROM HISTORICAL DATA
PORTFOLIO OPTIMIZATION AND EXPECTED SHORTFALL MINIMIZATION FROM HISTORICAL DATA We begin by describing the problem at hand which motivates our results. Suppose that we have n financial instruments at hand,
More informationExercise 1 Modelling and Convexity
TMA947 / MMG621 Nonlinear optimization Exercise 1 Modelling and Convexity Emil Gustavsson, Michael Patriksson, Adam Wojciechowski, Zuzana Šabartová September 16, 2014 E1.1 (easy) To produce a g. of cookies
More informationEconomics 101 Fall 2018 Answers to Homework #1 Due Thursday, September 27, Directions:
Economics 101 Fall 2018 Answers to Homework #1 Due Thursday, September 27, 2018 Directions: The homework will be collected in a box labeled with your TA s name before the lecture. Please place your name,
More informationWEEK 1 REVIEW Lines and Linear Models. A VERTICAL line has NO SLOPE. All other lines have change in y rise y2-
WEEK 1 REVIEW Lines and Linear Models SLOPE A VERTICAL line has NO SLOPE. All other lines have change in y rise y- y1 slope = m = = = change in x run x - x 1 Find the slope of the line passing through
More informationEcon Homework 4 - Answers ECONOMIC APPLICATIONS OF CONSTRAINED OPTIMIZATION. 1. Assume that a rm produces product x using k and l, where
Econ 4808 - Homework 4 - Answers ECONOMIC APPLICATIONS OF CONSTRAINED OPTIMIZATION Graded questions: : A points; B - point; C - point : B points : B points. Assume that a rm produces product x using k
More informationList the quadrant(s) in which the given point is located. 1) (-10, 0) A) On an axis B) II C) IV D) III
MTH 55 Chapter 2 HW List the quadrant(s) in which the given point is located. 1) (-10, 0) 1) A) On an axis B) II C) IV D) III 2) The first coordinate is positive. 2) A) I, IV B) I, II C) III, IV D) II,
More informationEconomics 101 Fall 2013 Homework 5 Due Thursday, November 21, 2013
Economics 101 Fall 2013 Homework 5 Due Thursday, November 21, 2013 Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the
More informationReview of Production Theory: Chapter 2 1
Review of Production Theory: Chapter 2 1 Why? Trade is a residual (EX x = Q x -C x; IM y= C y- Q y) Understand the determinants of what goods and services a country produces efficiently and which inefficiently.
More informationRepresenting Linear Functions. Constant Rate of Change and Direct Variation. Writing Linear Equations
Lesson 7-1 Lesson 7-2 Lesson 7-3 Lesson 7-4 Lesson 7-5 Lesson 7-6 Lesson 7-7 Lesson 7-8 Functions Representing Linear Functions Rate of Change Constant Rate of Change and Direct Variation Slope Slope-Intercept
More informationUNIVERSITY OF OSLO. Faculty of Mathematics and Natural Sciences
UNIVERSITY OF OSLO Faculty of Mathematics and Natural Sciences Examination in MAT2700 Introduction to mathematical finance and investment theory. Day of examination: Monday, December 14, 2015. Examination
More informationDiscrete Random Variables
Discrete Random Variables MATH 130, Elements of Statistics I J. Robert Buchanan Department of Mathematics Fall 2018 Objectives During this lesson we will learn to: distinguish between discrete and continuous
More informationDiscrete Random Variables
Discrete Random Variables MATH 130, Elements of Statistics I J. Robert Buchanan Department of Mathematics Fall 2017 Objectives During this lesson we will learn to: distinguish between discrete and continuous
More informationUniversity of Toronto November 28, ECO 100Y INTRODUCTION TO ECONOMICS Midterm Test # 2
Department of Economics Prof. Gustavo Indart University of Toronto November 28, 2008 SOLUTIONS ECO 100Y INTRODUCTION TO ECONOMICS Midterm Test # 2 LAST NAME FIRST NAME STUDENT NUMBER INSTRUCTIONS: 1. The
More informationLecture 2: Marginal Functions, Average Functions, Elasticity, the Marginal Principle, and
Lecture 2: Marginal Functions, Average Functions, Elasticity, the Marginal Principle, and Constrained Optimization The marginal or derivative function and optimization-basic principles The average function
More informationand. Which is the higher score? Decimal Percent Decimal Percent % % % 1.2 2%
Math 60, Sections 2.5-2.6 Notes and Practice Name: Section 2.5 One-Step Equations with Percentages Review of Percentages Compare these two quiz scores: 42 50 17 and. Which is the higher score? 20 1. Complete
More informationMIDTERM #2 VERSION 1
Econ 101 Lec 3 Fall 2001 Midterm #2 Version 1 November 6, 2001 Student Name: ID Number: Section # (Official): TA Name (Official): MIDTERM #2 VERSION 1 DO NOT BEGIN WORKING UNTIL THE INSTRUCTOR TELLS YOU
More informationMod 3 Word Problems #1 CW/HW
Name KEY Math 075 Mod 3 Word Problems #1 CW/HW 1. Suppose that the water level of a river is 34 feet and that it is receding at a rate of 0.5 foot per day. Find the slope, including units, and write a
More informationLucas s Investment Tax Credit Example
Lucas s Investment Tax Credit Example The key idea: It is 1975 and you have just been hired by the Council of Economic Adviser s to estimate the effects of an investment tax credit. This policy is being
More informationMathematics for Business and Economics - Fall 2015
NAME: Mathematics for Business and Economics - Fall 2015 Final Exam, December 14, 2015 In all non-multiple choice problems you are required to show all your work and provide the necessary explanations
More informationDEBT ISSUANCE AND MANAGEMENT
AP 6307 Administrative Procedure Chapter 6 Business & Fiscal Affairs AP 6307 DEBT ISSUANCE AND MANAGEMENT Reference: Government Code Section 8855 Purposes for Which Debt Proceeds may be used The laws of
More informationChapter 2 An Economic Model of Tort Law
Chapter 2 An Economic Model of Tort Law 2.1. The Basic Accident Model Unilateral Care Model. Suppose first that only the injurer can take care. Let x = the dollar expenditure on care by the injurer; L(x)
More informationEcon 101A Final Exam We May 9, 2012.
Econ 101A Final Exam We May 9, 2012. You have 3 hours to answer the questions in the final exam. We will collect the exams at 2.30 sharp. Show your work, and good luck! Problem 1. Utility Maximization.
More informationIntroduction to Operations Research
Introduction to Operations Research Unit 1: Linear Programming Terminology and formulations LP through an example Terminology Additional Example 1 Additional example 2 A shop can make two types of sweets
More informationApplication of Actuarially Fair Premiums to Health Insurance
Application of Actuarially Fair Premiums to Health Insurance Ben Segel-Brown (100791531) Econ 4460, November 2011 If sick, The budget function for a sick person is Finding the derivative Finding the maximum
More informationSection 3.1 Relative extrema and intervals of increase and decrease.
Section 3.1 Relative extrema and intervals of increase and decrease. 4 3 Problem 1: Consider the function: f ( x) x 8x 400 Obtain the graph of this function on your graphing calculator using [-10, 10]
More informationPhD Qualifier Examination
PhD Qualifier Examination Department of Agricultural Economics May 29, 2015 Instructions This exam consists of six questions. You must answer all questions. If you need an assumption to complete a question,
More information2016 EXAMINATIONS ACCOUNTING TECHNICIAN PROGRAMME PAPER TC 3: BUSINESS MATHEMATICS & STATISTICS
EXAMINATION NO. 16 EXAMINATIONS ACCOUNTING TECHNICIAN PROGRAMME PAPER TC : BUSINESS MATHEMATICS & STATISTICS WEDNESDAY 0 NOVEMBER 16 TIME ALLOWED : HOURS 9.00 AM - 12.00 NOON INSTRUCTIONS 1. You are allowed
More informationMean-Variance Analysis
Mean-Variance Analysis If the investor s objective is to Maximize the Expected Rate of Return for a given level of Risk (or, Minimize Risk for a given level of Expected Rate of Return), and If the investor
More informationSupplementary Material to: Peer Effects, Teacher Incentives, and the Impact of Tracking: Evidence from a Randomized Evaluation in Kenya
Supplementary Material to: Peer Effects, Teacher Incentives, and the Impact of Tracking: Evidence from a Randomized Evaluation in Kenya by Esther Duflo, Pascaline Dupas, and Michael Kremer This document
More informationENGG OPT TECHNIQUES Fall 2008 SOLVED EXAMPLES
EXAMPLE 1 HILLIARD Electronics produces specially coded chips for laser surgery in 256MB and 512MB (MB stands for megabyte; where one megabyte is roughly equal to one million characters of information).
More informationSOLUTIONS TO TEXT PROBLEMS:
44 Chapter 3/Interdependence and the Gains from Trade SOLUTIONS TO TEXT PROBLEMS: Quick Quizzes The answers to the Quick Quizzes can also be found near the end of the textbook. 1. Figure 1 shows Robinson
More informationChapter 5 Inventory model with stock-dependent demand rate variable ordering cost and variable holding cost
Chapter 5 Inventory model with stock-dependent demand rate variable ordering cost and variable holding cost 61 5.1 Abstract Inventory models in which the demand rate depends on the inventory level are
More informationThe Lagrangian method is one way to solve constrained maximization problems.
LECTURE 4: CONSTRAINED OPTIMIZATION QUESTIONS AND PROBLEMS True/False Questions The Lagrangian method is one way to solve constrained maximization problems. The substitution method is a way to avoid using
More informationHomework #2 Graphical LP s.
UNIVERSITY OF MASSACHUSETTS Isenberg School of Management Department of Finance and Operations Management FOMGT 353-Introduction to Management Science Homework #2 Graphical LP s. Show your work completely
More informationLecture 10: The knapsack problem
Optimization Methods in Finance (EPFL, Fall 2010) Lecture 10: The knapsack problem 24.11.2010 Lecturer: Prof. Friedrich Eisenbrand Scribe: Anu Harjula The knapsack problem The Knapsack problem is a problem
More information1. Factors: Write the pairs of factors for each of the following numbers:
Attached is a packet containing items necessary for you to have mastered to do well in Algebra I Resource Room. Practicing math skills is especially important over the long summer break, so this summer
More informationLesson Topics. B.3 Integer Programming Review Questions
Lesson Topics Rounding Off (5) solutions in continuous variables to the nearest integer (like 2.67 rounded off to 3) is an unreliable way to solve a linear programming problem when decision variables should
More informationProblem Set 3. Part I Multiple Choice
Part I Multiple Choice Problem Set 3 1. Bev is opening her own court-reporting business. She financed the business by withdrawing money from her personal savings account. When she closed the account, the
More informationHedonic Equilibrium. December 1, 2011
Hedonic Equilibrium December 1, 2011 Goods have characteristics Z R K sellers characteristics X R m buyers characteristics Y R n each seller produces one unit with some quality, each buyer wants to buy
More informationIssues. Senate (Total = 100) Senate Group 1 Y Y N N Y 32 Senate Group 2 Y Y D N D 16 Senate Group 3 N N Y Y Y 30 Senate Group 4 D Y N D Y 22
1. Every year, the United States Congress must approve a budget for the country. In order to be approved, the budget must get a majority of the votes in the Senate, a majority of votes in the House, and
More information3.3 - One More Example...
c Kathryn Bollinger, September 28, 2005 1 3.3 - One More Example... Ex: (from Tan) Solve the following LP problem using the Method of Corners. Kane Manufacturing has a division that produces two models
More informationDUOPOLY MODELS. Dr. Sumon Bhaumik (http://www.sumonbhaumik.net) December 29, 2008
DUOPOLY MODELS Dr. Sumon Bhaumik (http://www.sumonbhaumik.net) December 29, 2008 Contents 1. Collusion in Duopoly 2. Cournot Competition 3. Cournot Competition when One Firm is Subsidized 4. Stackelberg
More informationProblem Set 2: Answers
Economics 623 J.R.Walker Page 1 Problem Set 2: Answers The problem set came from Michael A. Trick, Senior Associate Dean, Education and Professor Tepper School of Business, Carnegie Mellon University.
More informationx x x1
Mathematics for Management Science Notes 08 prepared by Professor Jenny Baglivo Graphical representations As an introduction to the calculus of two-variable functions (f(x ;x 2 )), consider two graphical
More informationDO NOT BEGIN WORKING UNTIL YOU ARE TOLD TO DO SO. READ THESE INSTRUCTIONS FIRST.
First Sample Midterm Exam #2; Page 1 of 11 Economics 101 Professor Scholz First Sample Midterm #2, Part #1 October 22, 2009 DO NOT BEGIN WORKING UNTIL YOU ARE TOLD TO DO SO. READ THESE INSTRUCTIONS FIRST.
More informationLesson Master 7-1B VOCABULARY. USES Objective D. Questions on SPUR Objectives See pages for objectives.
Back to Lesson 7-1 7-1B VOCABULARY 1. Arturo deposits $3,000 into a savings account. At the end of the year, the bank pays him 4% interest, which amounts to $120. The total amount of money in his account
More informationMath Review Chapter 1
Math 60 - Review Chapter Name ) A mortgage on a house is $90,000, the interest rate is 8 %, and the loan period is 5 years. What is the monthly payment? ) Joan wants to start an annuity that will have
More informationUse the following to answer questions 1-3:
Ryerson University Department of conomics CN 0 Test Two F09 Instructor: Dr. T.Barbiero Duration: 0 minutes Name Student No. Choose the BST answer and record on your scanner sheet. The questions are of
More informationPublic Economics Final exam
Public Economics Final exam Marc Sangnier - marc.sangnier@univ-amu.fr April 23 rd, 2013 The exam lasts 90 minutes. Documents are not allowed. The use of a calculator is allowed. Any other electronic devices
More informationConsumers cannot afford all the goods and services they desire. Consumers are limited by their income and the prices of goods.
Budget Constraint: Review Consumers cannot afford all the goods and services they desire. Consumers are limited by their income and the prices of goods. Model Assumption: Consumers spend all their income
More information1 Optimal Taxation of Labor Income
1 Optimal Taxation of Labor Income Until now, we have assumed that government policy is exogenously given, so the government had a very passive role. Its only concern was balancing the intertemporal budget.
More informationComputing Optimal Randomized Resource Allocations for Massive Security Games
Computing Optimal Randomized Resource Allocations for Massive Security Games Christopher Kiekintveld, Manish Jain, Jason Tsai, James Pita, Fernando Ordonez, Milind Tambe The Problem The LAX canine problems
More informationDUALITY AND SENSITIVITY ANALYSIS
DUALITY AND SENSITIVITY ANALYSIS Understanding Duality No learning of Linear Programming is complete unless we learn the concept of Duality in linear programming. It is impossible to separate the linear
More informationThe objectives of the producer
The objectives of the producer Laurent Simula October 19, 2017 Dr Laurent Simula (Institute) The objectives of the producer October 19, 2017 1 / 47 1 MINIMIZING COSTS Long-Run Cost Minimization Graphical
More informationMock Midterm 2B. t 1 + (t 4)(t + 1) = 5 = 5. 0 = lim. t 4 + (t 4)(t + 1) = 80
Mock Midterm B Note: The problems on this mock midterm have not necessarily been selected to allow them to be easy to work without a calculator. The problems on the real midterm will not require the use
More information1. Introduction of another instrument of savings, namely, capital
Chapter 7 Capital Main Aims: 1. Introduction of another instrument of savings, namely, capital 2. Study conditions for the co-existence of money and capital as instruments of savings 3. Studies the effects
More informationANSWER KEY 3 UTILITY FUNCTIONS, THE CONSUMER S PROBLEM, DEMAND CURVES. u(c,s) = 3c+2s
ANSWER KEY 3 UTILITY FUNCTIONS, THE CONSUMER S PROBLEM, DEMAND CURVES ECON 210 GUSE REVISED OCT 3, 2017 (1) Perfect Substitutes. Suppose that Jack s utility is entirely based on number of hours spent camping
More informationInteger Programming Models
Integer Programming Models Fabio Furini December 10, 2014 Integer Programming Models 1 Outline 1 Combinatorial Auctions 2 The Lockbox Problem 3 Constructing an Index Fund Integer Programming Models 2 Integer
More informationFigure 1 MC ATC. Demand. Dr. John Stewart April 2, 2002 ECONOMICS Exam 2
ECONOMICS 10-007 Exam 2 Dr. John Stewart April 2, 2002 Instructions: Mark the letter for the best answer for each question on the computer readable answer sheet. Please note that some questions have four
More informationGraphs Details Math Examples Using data Tax example. Decision. Intermediate Micro. Lecture 5. Chapter 5 of Varian
Decision Intermediate Micro Lecture 5 Chapter 5 of Varian Decision-making Now have tools to model decision-making Set of options At-least-as-good sets Mathematical tools to calculate exact answer Problem
More informationHomework #3 Microeconomics (I), Fall 2010 Due day: 7 th Dec., 2010
組別 姓名與學號 Homework #3 Microeconomics (I), Fall 2010 Due day: 7 th Dec., 2010 Part I. Multiple Choices: 60% (5% each) Please fill your answers in below blanks, only one answer for each question. 1 2 3 4
More informationMarket demand is therefore given by the following equation:
Econ 102 Spring 2013 Homework 2 Due February 26, 2014 1. Market Demand and Supply (Hint: this question is a review of material you should have seen and learned in Economics 101.) Suppose the market for
More informationMt. Douglas Secondary
Foundations of Math 11 Section 6.3 Linear Programming 79 6.3 Linear Programming Linear inequalities can be used to solve optimization problems, problems in which we find the greatest or least value of
More informationMath Performance Task Teacher Instructions
Math Performance Task Teacher Instructions Stock Market Research Instructions for the Teacher The Stock Market Research performance task centers around the concepts of linear and exponential functions.
More informationd. Find a competitive equilibrium for this economy. Is the allocation Pareto efficient? Are there any other competitive equilibrium allocations?
Answers to Microeconomics Prelim of August 7, 0. Consider an individual faced with two job choices: she can either accept a position with a fixed annual salary of x > 0 which requires L x units of labor
More informationNo books, notes, or other aids are permitted. You may, however, use an approved calculator. Do not turn to next pages until told to do so by examiner.
Economics 103 F11 Principles of Microeconomics: Sample Test #2 Dr. H.J. Schuetze 70 Minutes Part A Multiple Choice 30 x 2 marks each = 60 (note this is 10 more than will be on our exam but I thought the
More informationOUR SERVICES INCLUDE :
LONG-TERM DATA AND CHARTS (FROM THE YEAR 1800 TO PRESENT TIME) FOR 28 CURRENCY PAIRS WITH ELLIOTT WAVE ANALYSIS AND FORECASTING FOR THE NEXT 100 YEARS (TO 2100) Here at our website, we provide the necessary
More informationProblem set 2. Filip Rozsypal November 23, 2011
Problem set 2 Filip Rozsypal November 23, 2011 Exercise 1 In problem set 1, Question 4, you were supposed to contrast effects of permanent and temporary changes in government consumption G. Does Ricardian
More informationModule 2 THEORETICAL TOOLS & APPLICATION. Lectures (3-7) Topics
Module 2 THEORETICAL TOOLS & APPLICATION 2.1 Tools of Public Economics Lectures (3-7) Topics 2.2 Constrained Utility Maximization 2.3 Marginal Rates of Substitution 2.4 Constrained Utility Maximization:
More informationMidterm 2 (Group A) U (x 1 ;x 2 )=3lnx 1 +3 ln x 2
Econ 301 Midterm 2 (Group A) You have 70 minutes to complete the exam. The midterm consists of 4 questions (25,30,25 and 20 points). Problem 1 (25p). (Uncertainty and insurance) You are an owner of a luxurious
More informationFall Midterm Examination Solutions Monday 10 November 2014
EC 03. & 03.3 Fall 04 Deniz Selman Bo¼gaziçi University Midterm Examination Solutions Monday 0 November 04. (5 pts) Defne is now in her senior year of high school and is preparing for her university entrance
More information