Constant elasticity curve is to be used to model demand

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Reference no: EM132243853

1. Assume that the optimal solution for a profit maximization problem is $100,000. If we add an integer constraint for changing cells and rerun the Solver, then the optimal solution of the same problem

Will be less than $100,000

Will be more than $100,000

May be less than $100,000

May be more than $100,000

2. Which of the following types of fit should be selected in Excel's Trendline function if a constant elasticity curve is to be used to model the demand?

Power

Exponential

Logarithmic

Polynomial

3. The current demand for a certain product produced by XYZ Company is 18,760 and the current elasticity of demand is -2.5%. If the company will increase a unit selling price of the product by 1%, what would be the expected demand?

18,291

19,229

18,600

19,100

4. Changing cells in any linear programming model should be a single range (i.e., a single rectangular area) in the Excel spreadsheet.

TRUE OR FALSE

Reference no: EM132243853

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