1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ratelena [41]
3 years ago
15

The owner of Chips etc. produces two kinds of chips: lime (L) and vinegar (V). He has a limited amount of the three ingredients

used to produce these chips available for his next production run: 4800 ounces of salt, 9600 ounces of flour, and 2000 ounces of herbs. A bag of lime chips requires 2 ounces of salt, 6 ounces of flour, and 1 ounce of herbs to produce; while a bag of vinegar chips requires 3 ounces of salt, 8 ounces of flour, and 2 ounces of herbs. Profits for a bag of lime chips are $0.40, and for a bag of vinegar chips $0.50. What is the formulation for this problem? Suppose that L and V are the decision variables respectively of Lime and Vinegar.
Business
1 answer:
Sloan [31]3 years ago
3 0

Answer:

Objective function (maximize)

Profit=0.40L+0.50V

Constraints

- Availabitily of salt: 2L+3V\leq4800

- Availability of herbs: 1C+2V\leq 2000

- Availability of flour: 6C+8V\leq9600

Explanation:

This a linear programming problem. We have an objective function (in this case it is the profit) that we want to optimize, but complying with constraints (in this case, the availability of ingredients).

The objective function can be defined taking into account the profits of the two kind of chips:

Profit=0.40L+0.50V

The constraints can be expressed taking into account the amount of ingredients every unit of chip needs and stating that it has to be less or equal to the availability of this ingredient:

- Availabitily of salt:

2L+3V\leq4800

- Availability of herbs

1C+2V\leq 2000

- Availability of flour

6C+8V\leq9600

With these expressions the linear programming problem can be solved.

You might be interested in
The accounts of Melissa Manufacturing showed the following balances at the beginning of​ December: Account Debit Raw Materials I
Rudik [331]

Answer:

$115,000

Explanation:

Data provided as per the question is below:-

Beginning balance = $81,000

Direct material issued = $27,000

Direct labor incurred = $7,000

The computation balance Process Inventory is shown below:-

Balance in the​ Work-in-Process Inventory = Beginning balance + Direct material issued + Direct labor incurred

= $81,000 + $27,000 + $7,000

= $115,000

4 0
3 years ago
In our aggregate expenditure model we assume that:
maria [59]

Answer:

The correct answer is regarding the model, is that an individual firms prices are flexible but the level of the price is fixed.

Explanation:

The aggregate expenditure model is the model in which the sum or total of all the expenditures are undertaken in the economy with the factors during the particular time period.

The equation is:

AE = C (Consumption) + I (Investment) + G (Government) + NX (Net Exports)

In this model, it is assumed that the prices of the individual firm are flexible whereas the price level is fixed.

7 0
3 years ago
Joe was tired of working for other people. He had an idea to start his own ice cream business and wanted to set it up where he a
d1i1m1o1n [39]

Answer:

Authority - Responsibility Balance & Incentive Development.

Explanation:

Authority refers to the power to command, give orders to somebody. And enjoying the position of having right to get it obeyed.

Responsibility refers to being in a position of accountability, answerability for an allocated task or job & its performance.

For Eg : A manager  given responsibility to complete a task of production targets achievement, is also given authority to command the entire staff at the production site.

Joe had problem while working for someone else that :- he had responsibility to complete employers allocated task, but may be not given enough authority to do so, thats why he felt he is being 'commanded by, working for' someone else. Also, he doesn't owe the rewards of his acts, so lacks incentive.

Being an entrepreneur will entitle him with managerial responsibilities, but at the same time will also give him higher authority to take his own independent decisions. And, he is himself responsible for his acts, will bear losses or enjoy profits for himself. So, it also incentivises him to work for himself.

8 0
3 years ago
Nicki paid $900 for a camera that she thought was worth $1100 for all the features included in it. for the consumer electronics
FinnZ [79.3K]

Consumer surplus is difference between the amount that consumers are willing and able to pay for a good or service

In this case, Nicki is willing to pay $1,100 for the camera, but she is only asked to pay 900. So Nicki has a consumer surplus of $200

7 0
3 years ago
When an auctioneer decides that no one will bid any higher for the goods on sale, the bidding is closed, usually by
Black_prince [1.1K]

Answer:

True

Explanation:

An auction is defined as a public sale of properties that considers bids from prospective buyers.

The highest bidder eventually makes the purchase.

The auctioneer calls for bids and when there is an unchallenged bid he pounds the gavel to indicate the item has been sold.

The auctioneer is the seller himself of am agent representing him.

At the start of the auction the seller sets a minimum price before bidding commences

8 0
3 years ago
Other questions:
  • what is the amount of the overall tax (corporate level + shareholder level) on the $590.000 of pre-interest expense earnings if
    15·2 answers
  • When underapplied or overapplied manufacturing overhead is prorated, amounts can be assigned to which of the following accounts?
    9·1 answer
  • How is the relationship between unitss in the money system in the u.s. similar to the metric system
    5·1 answer
  • For a certain product, the cost function is linear with fixed costs of $480. If the product will sell for $25 per unit and the b
    13·1 answer
  • The following is a list of costs that were incurred in the production and sale of large commercial airplanes:___________.
    11·1 answer
  • Kern Company deposited $1,000 in the bank on January 1, 2017, earning 8% interest. Kern Company withdraws the deposit plus accum
    6·1 answer
  • Jeanie acquires an apartment building in 2008 for $280,000 and sells it for $480,000 in 2019. At the time of sale there is $60,0
    9·1 answer
  • Monette Corporation has found that 70% of its sales in any given month are credit sales, while the remainder are cash sales. Of
    12·1 answer
  • Which of the following are arguments that are given to support trade barriers?
    15·1 answer
  • Why is ceo. how can we become ceo​
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!