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2 years ago

What is the pareto-optimal frontier?

1 answer:

4 0

No individual or preference criterion can be made better off without at least one of them becoming worse off, which is known as Pareto efficiency or Pareto optimality.

<h3>What is the pareto-optimal frontier?</h3>

No individual or preference criterion can be made better off without at least one of them becoming worse off, which is known as Pareto efficiency or Pareto optimality. When no additional adjustments to the economy can make one person better off without also making another person worse off, the economy is said to be in a Pareto optimal state. The concept of Pareto optimality, also known as Pareto efficiency, is widely applied in economics. It represents a condition in which there are no more ways to increase society's well-being through resource reallocation that benefits at least one individual without harming another.

The Pareto front, also known as the Pareto frontier or the Pareto set, is the collection of all Pareto efficient solutions in multi-objective optimization. The idea is frequently applied in engineering. Pareto efficiency is crucial because it offers a flimsy but frequently used yardstick for contrasting economic results. It's a flawed criteria because the Pareto test doesn't explain how to choose between the several feasible scenarios.

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After graduation you face a choice. One option is to work for a highly regarded consulting firm and earn a starting salary (bene

Kaylis [27]

Answer:

(a) $93,000

(b) $55,600

(d) -$1,000

Explanation:

An explicit cost refers to the costs that are incurred to run a business such as rent, wages and materials.

Explicit costs:

= Rent + supplies + Office staff + salary + Telephone expenses

= $18,000 + $1,000 + $50,000 + $20,000 + $4,000

= $93,000

Implicit cost is also known as opportunity costs.

Implicit cost:

= (Amount of saving × Rate) + Salary from consulting firm

= ($12,000 × 0.05) + $55,000

= $600 + $55,000

= $55,600

Accounting profit = Revenues - Explicit cost

= $147,600 - $93,000

= $54,600

Economic profit = Accounting profit - Implicit costs

= $54,600 - $55,600

= -$1,000

5 0

3 years ago

Read 2 more answers

Marine Components produces parts for airplanes and ships. The parts are produced to specification by their customers, who pay ei

Marina CMI [18]

Answer:

Results are below.

Explanation:

Giving the following information:

Estimated manufacturing overhead= $10 million.

Client 1 Client 2

Machine-hours (thousands) 2,000 2,000

Direct labor cost ($000) $2,500 $7,500

<u>To calculate the predetermined overhead rate, we need to use the following formula:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Machine hours:

Predetermined manufacturing overhead rate= 10,000,000 / 4,000

Predetermined manufacturing overhead rate= $2,500 per machine hour

Direct labor:

Predetermined manufacturing overhead rate= 10,000,000 / 10,000

Predetermined manufacturing overhead rate= $1,000 per direct labor dollar

6 0

3 years ago

Your company repairs household appliances such as microwaves, dishwashers, and clothes dryers. Your manager, Naomi, is excited a

muminat

Answer:

bbb

Explanation:

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2 years ago

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Monies that are earmarked for certain purposes from the moment that they are collected are __________. non-dedicated funds dedic

Annette [7]

Answer: Dedicated Funds

Explanation: A dedicated fund is a part of an income that is strictly set aside for a fixed purpose from the moment they are gotten.

A dedicated fund can take any format, some of which includes; money set aside for savings, money kept as tax, money set aside for insurance payments etc.

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3 years ago

The next two questions pertain to the problem below: You researched Jersey Kids Corp on Yahoo Finance and you found the followin

Leona [35]

Answer:

The current stock price of Jersey Kids Corp in 2021 is expected to be $39.02.

Explanation:

The current stock price of Jersey Kids Corp in 2021 can be calculated using the formula for the dividend discount model as follows:

P2021 = D2022 / (r - g) ............................ (1)

Where,

P2021 = current stock price in 2021 = ?

D2020 = Annual dividends per share paid in 2020 = $3.00

D2021 = Annual dividends per share paid in 2021 = D2020 * (1 + g) = $3 * (1 + 0.02) = $3.06

D2022 = Annual dividends per share paid in 2022 = D2021 * (1 + g) = $3.06 * (1 + 0.02) = $3.1212

r = required return = 10%. or 0.10

g = growth rate = 2% = 0.02

Substituting the values into equation (2), we have:

P2021 = $3.1212 / (0.10 - 0.02)

P2021 = $3.1212 / 0.08

P2021 = $39.02

Therefore, the current stock price of Jersey Kids Corp in 2021 is expected to be $39.02.

7 0

3 years ago