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1 year 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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Knowing yourself is the basis for all steps in career planning. is this statement true or false?

Fynjy0 [20]

Of course, the answer for this is <u>TRUE!</u> Career planning needs basis and the best basis you could have is knowing yourself.

How to know yourself as a basis for career planning? You must answer these questions about you:

- Who are you and what do you want to become?

- What are your skills and talents?

- What is your educational background?

- What are your dreams and ambitions?

Among the steps in career planning are:

1. Assessing your abilities, interests, values, and personality to learn more about yourself.

2. Knowing what you desire by determining where, how, and how much money you need to live and survive.

3. Making preparations for an interest-based career will help you get ready for a career.

4. Discovering job trends, transferrable skills, and professional growth will help you maintain your career.

Learn what mentors should teach a recent graduate about career planning if the recent graduate's mentor is explaining the importance of career planning: brainly.com/question/28275628

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3 0

1 year ago

Bailey Furniture Company has prepared the following flexible budget for April and is in the process of interpreting the variance

Grace [21]

Answer:

See notes below

Explanation:

Rate variance

The rate variance is the the difference between the standard labor cost of the actual hours paid for and the actual cost.

<em>Possible reasons:</em>

An increase in wage rate

Skilled workers were as against using the unskilled workers planned for

Efficiency variance

Labour efficiency variance is the difference between the actual time taken to achieve a given production output less the standard hours allowed for same multiplied by the standard labour rate

<em>Possible reasons:</em>

The use of skilled workers who worked faster than the unskilled workers planed for

The workers were trained making them more efficient in saving time

3 0

3 years ago

The following account balances were extracted from the accounting records of Thomas Corporation at the end of the year:

Savatey [412]

Answer: $1,063,000

Explanation:

Net realizable value is the value of an asset that a company will get when the asset is sold minus the cost that came with the asset sales.

The net realizable value of the accounts receivable will be the accounts receivable of $1,100,000 minus the allowance for uncollectible accounts which was given as $37,000.

= $1,100,000 - $37,000

= $1,063,000

7 0

3 years ago

Shasta Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing ha

k0ka [10]

Answer:

a. Determine the standard cost per unit for direct materials and direct labor.

standard direct labor rate = $20 x 30/60 minutes = $10 per faucet

standard direct materials rate = $1.80 x 2.5 lbs = $4.50 per faucet

b. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance.

direct materials price variance = (actual price x actual quantity) - (standard price x actual quantity) = ($1.95 x 13,000) - ($1.80 x 12,500) = $25,350 - $22,500 = $2,850 UNFAVORABLE

direct materials quantity variance = (standard price x actual quantity) -(standard price x standard quantity) = ($1.80 x 13,000) - ($1.80 x 12,500) = $23,400 - $22,500 = $900 UNFAVORABLE

total direct materials variance = direct materials price variance + direct materials quantity variance = $2,850 + $900 = $3,750 UNFAVORABLE

8 0

3 years ago

Paula is in charge of maintaining good relationships between her organization and local government, business leader groups, and

N76 [4]

Answer:

a. public relations

Explanation:

As the name suggest that public relations means the relations that should be made between the organization and the general public, local government, leader groups, etc. It would create a positive image for the public at large by communicating with the people so that they get to know about the company

Therefore according to the given situation, the option a is correct

4 0

3 years ago