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1. 2. Suppose a firm has a cost function: TC = 4x2 + 10y2. The production manager want to know the quantities of each product that will minimize the total cost if the total output of x & y must equal 800. a. Solve this problem for the manger using the Lagrangian method. b. How would this manager use the resulting Lagrangian multiplier in this case? 2. 1. Suppose a firm sells two products labeled: x & y. The total revenue function for these products is: TR = 36x - 3x2 + 40y - 5y2. And the total cost function is: TC = x2 + 2xy + 3y2. Find: a. The optimal levels of x & y this form should produce to maximize profits. b. Be sure to check and show the second order conditions confirming your results. c. What are the prices of both goods x & y at the optimal levels? 3. 3. The supply function for a particular kind of cheese is: Qs = 100 + 3P where Qs is the quantity supplied of this cheese in millions of pound per year, and P is the price of this cheese in dollars per pound. If the demand function is: Qd = 106 million pound of cheese per year and if the government imposes a price floor of $1 per pound: a. Will there be excess supply or excess demand for this cheese? How big will it be? b. What if the government sets a price floor of $3 per pound? Will there be excess demand or supply? How big will it be?
Illustrate what is wrong with explain how Gold Coast Advertising measures its quality? Explain why Gold Coast should ask its consumers about explain how they define quality.
Welcome to the New York. all the toy firms display their items. It is also where the major trade shows and competitions are held.
Sources that support your responses need not be scholarly, but they do need to be cited, and there should be at least five citations in your submission.
Weighted average cost of capital - How does the capital asset pricing model help explain changing costs of capital?
Organizational Culture explains - Identify subcultures that existed. What role did they play in the success of the organization?
Should a manager use all three of these styles situationally? What challenges might a manager, trying to meet the expectations of each style, expect to encounter?
Looking ahead, speculate illustrate what the pending issues in business will be 15 years from today. Based upon your answer to the previous discussion, determine how these pending issues will affect you and illustrate what you can do to prepare.
Make an interesting distinction between 'internal' and 'external' customers?
Explain what are the four elements of transformational leadership and why are these four elements important to influencing organizational change?
Explain what primary research is and what it entails. Also discuss how one might plan to do primary research in terms of data collection.
They contend that they are too busy "putting out fires" and "running the industry." As an advocate of planning, Explain how would you convince such a manager that planning is essential?
Why are strategic decisions different from other types of decisions?
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