Set up the lp model in general form

Assignment Help Microeconomics
Reference no: EM13879724

A small Mexican food restaurant is open from 11:00 A.M. to 10:00 P.M. on weekdays. There are only two full-time employees, the chef and the owner. The waiters and wait- resses are part-time, scheduled for 4-hour shifts. Due to variance in the arrival of cus- tomers throughout the day, the total number of full-time and part-time employees required and the wage-rate for part-time employees varies with the time of the day as follows:

 

 

Hour

 

Number of Employees Required

Wage-Rate for Part-Time Employees ($/hour)

11:00 A.M.-1:00 P.M.

6

8

1:00 P.M.-4:00 P.M.

4

9

4:00 P.M.-6:00 P.M.

5

9

6:00 P.M.-9:00 P.M.

10

10

9:00 P.M.-10:00 P.M.

8

8

The owner of the restaurant arrives at 11:00 A.M., works two hours, takes one hour off, and returns for three hours, takes another hour off and then works till 10:00 P.M. when the restaurant is closed. The chef also arrives at 12:00 A.M., works four hours, takes two hours off, and returns for another four hours. Develop a minimum-cost Monday schedule for the part-time employees. Set up the LP model in general form.

Reference no: EM13879724

Questions Cloud

What are two items regarding the manufacturing process : What type of process design do they use: Make to Order, Make to Stock, or Batch? What are two items regarding the manufacturing process related to the organization that the team finds unique or interesting
Financial statements of hollingsworth industries : At December 31, 2013, the financial statements of Hollingsworth Industries included the following:
There are increasing returns to scale in production : The firm can vary the amounts of two basic chemicals in producing a specialty chemical, but, for quality control reasons, the relative proportions of chemicals must be between 40/60 and 60/40.
The banking system in china. how safe is this system? : The banking system in China. How safe is this system? Any recent banking crisis in China?
Set up the lp model in general form : The chef also arrives at 12:00 A.M., works four hours, takes two hours off, and returns for another four hours. Develop a minimum-cost Monday schedule for the part-time employees. Set up the LP model in general form.
How does this metaphor apply to the dynamics : The Eames film shows incremental changes in perspective as the camera moves in or out by a factor of 10. How does this metaphor apply to the dynamics within an organization for which you work or with which you are familiar
Single channel per unit length of the platen : Determine the heat rate from a single channel per unit length of the platen normal to the page, q;. Determine the outer surface temperature of the cover plate, Ts.
What is block ownership? : What is block ownership? How does it affect corporate governance?
Define different types of exposure the firm might encounter : Define the different types of exposure the firm might encounter

Reviews

Write a Review

Microeconomics Questions & Answers

  Q1 dick and jane are living in a two-bedroom unit in an

q.1 dick and jane are living in a two-bedroom unit in an apartment complex that has a swimming pool spa fitness center

  Supply or demand

Discuss one (1) recent price change that you have noticed while visiting your local supermarket. Speculate on whether or not the price change that you identified was a result of a change in either supply or demand. Provide a rationale for your re..

  Countrys public debt as a percentage of real gdp in year

What price would I want to sell my 12 posters to my 12 friends if my first friend will buy it for $11 dollars, my second at $10 dollars, and so on until that 12th friend would get the poster for $0 dollars?

  Maximize the total revenue received from selling advertising

Suppose you are in charge of setting the price for commercial advertisements shown during Enemies, a top network television show. There is a 60 minute slot? For the show. However, the running time for the show itself is only 30 minutes?

  How sensitive is the calculation to the rate of return

Presume that you have saved $10,000 for retirement and are currently 20 years old. Moreover, suppose that you will earn the historical return of about six percent on your portfolio of stocks. How sensitive is the calculation to the rate of return?

  Evaluate the equilibrium price and quantity

Draw the market diagram and calculate the equilibrium price and quantity, and total welfare in the market (graph at end of answer).

  How to regulate the nations banks

A Federal Reserve Bank has employed the economic consulting company to make a paper on how the use of money has changed over the past twenty years.

  Impose a protectionist policy such as a tariff

Impose a protectionist policy such as a tariff - domestic market following the removal of an import quota?

  1 use the following information to list the total fixed

1. use the following information to list the total fixed costs total variable costs average fixed costs total variable

  What is the present value of his lost expected earnings

Calculate the present value of his expected earnings for the years 2015-2022 -  Explain and show your calculations - What is the present value of his lost expected earnings.

  Explain the role of adjustable-rate mortgages

Explain the role of adjustable-rate mortgages (ARMs) in exacerbating the financial crisis. Explain the Basel requirements and how banks got around the Basel accords, which limited the amount of mortgages and other risky assets that banks could hold..

  What are the arguments for using real per capita gni

Among the problems that hinder growth in developing economies are poor infrastructure, lack of financial institutions and a sound money supply, a low saving rate, poor capital base, and lack of foreign exchange. Explain how these problems are inte..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd