In accounting for uncollectible receivables, the balance in Allowance for Doubtful Accounts will directly impact the amount of t
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Answer:
C) There was no price control on gasoline at the time.
Explanation:
During the 1970s the US government established a price ceiling on gasoline, but as all price ceilings set below the equilibrium price, it results in both a deadweight loss and a supply shortage.
Since the price is "too cheap", then the quantity demanded will be more than the quantity supplied. Rising costs in gasoline production made things worst, since suppliers were constantly reducing their supply of gasoline, while consumer demand was constantly increasing.
Answer :
Some answers are attached below
Explanation:
a) Based on the information provided, below are the all possible sensible patterns the lumberyard may use to cut the 10-ft boards -
Pattern Number 3-ft boards 4-ft boards 5-ft boards Waste (<3-ft)
1 3 0 0 1
2 2 1 0 0
3 1 0 1 2
4 0 1 1 1
5 0 2 0 2
6 0 0 2 0
b) ILP Formulation
Objective Function
Minimize Number of 10 ft-boards to be cut
Z = x1+x2+x3+x4+x5+x6 where xi is the number of boards for pattern i
subject to constraints -
3x1+2x2+x3>=90 ----> 3-ft boards
x2+x4+2x5>=60 ----->4-ft boards
x3+x4+2x6>=60 ----->5-ft boards
Xi>=0 ---->Non-negativity constraint
Below is the excel solver formulation and solution -
The optimal number of Pattern 1,5,6 =0, Pattern 2,3 and 4 = 30
The minimum number of 10 ft-boards to be cut = 90
