Formulate and solve this problem using a linear program

Assignment Help Business Economics
Reference no: EM131666133

The company must determine how many storage rooms of each size to build.

x1:the number of large spaces developed

x2: the number of small spaces developed.

A: 4x1 + 4 x2 ≤ 480 (advertising budget)

B: 80x1 + 40x2 ≤ 5600 (square footage required)

C:x1 ≤ 50 (rental limit expected)

Question:

Several assumptions must implicitly be made to formulate and solve this problem using a linear program. Identify at least one LP assumption which is violated in this context, i.e., which may not be appropriate when the decision variables relate to the number of storage units developed.

Reference no: EM131666133

Questions Cloud

Employee morale and business performance : How does the ethical code of conduct and behavior at your organization influence employee morale and business performance? Provide specific examples.
Find an example of conflict : Find an example of conflict (Oprah Winfrey) this Leader dealt with and use the course concepts to judge its results.
Define what is law and economics : What is Law and Economics, Why do we study it, How is it different than either law or economics
What is aristophanes doing during eryximachus speech : What is Aristophanes' doing during Eryximachus' speech. According to Aristophanes' myth, what do humans look like at first?
Formulate and solve this problem using a linear program : Several assumptions must implicitly be made to formulate and solve this problem using a linear program. Identify at least one LP assumption which is violated.
How to allocate indirect costs to the division : Cost allocation to divisions. Rembrandt Hotel & Casino is situated on beautiful Lake Tahoe in Nevada. The complex includes a 300-room hotel, a casino.
Define what was congress intent in passing that law : How does the HCQIA help in peer review; what was Congress' intent in passing that law
Quantity surveying master program : Quantity Surveying Master Program - The assignment which need to consider for the three types of construction standard contract form, JCT, NEC & FIDIC
Define what are exculpatory agreements : What are the consequences for intentionally altering, falsifying, or destroying medical records

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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