All categories

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.

To learn more about pareto-optimal frontier refer to:

brainly.com/question/22365112

#SPJ4

You might be interested in

Given the following data: Work in process, beginning $14,000 Work in process, ending 20,000 Direct labor costs 4,000 Cost of goo

Natali [406]

Answer:

correct option is d.$2,000

Explanation:

given data

Work in process, beginning = $14,000

Work in process, ending = 20,000

Direct labor costs = 4,000

Cost of goods manufactured = 8,000

Factory overhead = 8,000

solution

we get her first Total manufacturing cost that is getting by Cost of goods manufacture formula that is express as

Cost of goods manufacture = Total manufacturing cost + beginning Work in process - ending Work in process .....................1

put here value and we will get

Total manufacturing cost = $20,000 - $14,000 + $8,000

Total manufacturing cost = $14,000

now we get here Direct material used that is express as

Direct material used = Total manufacturing cost - Factory overhead - Direct labor costs ................2

put here value we get

Direct material used = $14,000 - $8,000 - $4,000

Direct material used = $2,000

so correct option is d.$2,000

7 0

3 years ago

ABC Company, which is headquartered in the U.S., has its production plant located in a less- developed country. In this producti

SashulF [63]

Answer:

The answer is: a

Explanation:

Ethics refer to moral values which govern a person or in this instance, an organisation. Business ethics encompasses the use of appropriate business policies and practices by companies when handling controversial matters such as corporate social responsibility, bribery, workplace discrimination and so on. These policies and practices are governed by the company's values. ABC company has a dismal code of ethics when it comes to their overseas production. The company is enjoying low cost production at the expense of its employees working under hazardous conditions with very little pay. These employees will potentially suffer long-term illness as a result of their work and they would not be able to afford treatments or requisite medication. These actions by ABC company are morally unjust and therefore not ethical in the lieu of their operations.

4 0

3 years ago

If local shell gasoline stations look at bp stations' prices as the primary method of determining its own prices, shell is using

djyliett [7]

<span>If local shell gasoline stations look at bp stations' prices as the primary method of determining its own prices, shell is using</span> competition-based pricing.
In this we considers costs have not much value and consider to be less important than competitor's prices, means competitor's price is important.

4 0

3 years ago

Strategically thinking, why might management opt for other than the most economical choice

Anton [14]

Answer:

Management might opt for other than the most economical choice because:

- Controlling. E.g. Franchise can be helpful to increase earnings fast but the uncertainly of quality supplied by franchisees can hurt a firm in the long run.

- Branding. E.g. Some firms have a reputation for their hand-made products. Industrialized production can reduce cost per unit and increase productivity but the brand surely is affected.

Explanation:

6 0

4 years ago

Before year-end adjusting entries, Dunn Company's account balances atDecember 31, 2017, for accounts receivable and the related

mixas84 [53]

Answer:

b.$1,375,000

Explanation:

Dunn Company's

Allowance for uncollectible accounts $1,500,000

Less Accounts receivable expected to be Uncollectible $125,000

Net Realizable value of account receivable $1,375,000

Therefore the net realizable value of accounts receivable after adjustment will be $1,375,000

5 0

3 years ago