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The market price of an item is $250.The production cost C for the particular company is a function of its output level, q, and is given by C = 100q^(1.2), where C is in units of dollars and q is the number of units produced. The firm wants to maximize the profit, defined as total revenue minus total cost.
Determine the optimum output level to maximize the profit for the firm and derive the sufficient condition to show that the output does, in fact, represent a local maximum.
Use lagrange’s multiplier method.
Discuss the Traveling Salesman Problem, its history, importance and complexity. Discuss practical applications (e.g. in Business) which rely on the TSP. Find out what you can about methods that have been used to approach this problem in industry or o..
Assume now that after the implementation of the control chart, the mean of the statistic has shifted down by 1 standard deviation
problem newsboy model betty cooker runs a bakery in san francisco that specializes in her famous black forest cakes.
Compare and contrast the transport planning models for passenger and freight transport. This may require you to do additional research in the online Library or Internet. Minimum of at least 250 words and APA Format too.
What is the purpose of Porter's five forces model? Support your argument with an example of a strong force and an example of a weak force. Be sure to support your example by explaining why it was a strong force or a weak force using Porter's five for..
Develop a concept for a new restaurant business. You may choose to develop your concept as a local, regional, or national company—but in all cases, you must plan to open a restaurant in your local area. What are the challenges of achieving sustainabl..
Workplace deviance is costly to both organizations and employees. Victims of workplace deviance suffer from stress-related conditions, decreased productivity, and low morale, and are more likely to leave the organization. How can norms be used to red..
Create a 18- to 22-slide Microsoft® PowerPoint® presentation to be given to the selected organization's board of directors (Starbucks). As part of the new business development team, you have been exploring new transportation options for the organi..
Robert is repaying a debt with 21 annual end-of-the-year payments of $1300 each. At the end of the 4th year, he makes an extra payment of $2600. He then refinances his loan by reducing his remaining payment period by 2 years and making level payments..
Under these circumstances, should the company buy the new equipment and increase the selling price?
Formulate the problem as a linear programming model (i.e. define the variables, and write down the objective function and all constraints in algebraic form).
A firm selling different products to different markets would probably benefit from a logistics organization that is:
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