<u>Explanation</u>:
This is an example of a linear programming problem.
THE CONSTRAINTS
Let d, c represents number of desk and chair.
Marketing restrictions
c ≥ 2d; which can be written as
2d - c ≤0
Wood restriction
4d + 3c ≤ 20
OBJECTIVE FUCTION (MAX)
= 40d + 25c
Where d ≥ 0, c ≥ 0
With this details you can then find the solutions either graphically or using any other linear programming solution methods.
Answer:
His conclusion is based on his own soul-interest.
Explanation:
In the following situation, Ayden is a sole Proprietor he has no team or management system to discuss the idea of opening a new shop, Ayden has to decide about his all expenses, revenues, sources of finance and decision cost from his knowledge and experience.
- Ayden is behaving rationally because he is fully liable for his decisions.
Answer is A
Explanation: Consumer surplus actually happens when a customer is willing and ready to pay for a particular product than its current market price. It is a measure of the additional benefits a consumer gets after paying for a product even though they are willing to pay more.
For example: Let's assume you want to get a IPhone 8 plus and you value it at $800 dollars, which you are ready to pay, but realise it is sold at $700. When you buy it at $700, the customer surplus is $100, that is a difference between how much you were willing to pay and the price you eventually got it.
Consumer Surplus changes as the equilibrium price of a good rises or falls. If the price of a good rises, the consumer surplus decreases but when the price of the good falls, the consumer surplus increases.
Answer:
D. Recession
Explanation:
Aggregate output in an economy declines during a recession. This is because economic activities are declining. When such occurs GDP declines. This is different from stagflation in the sense that during a recession, only real GDP declines. However, in a stagflation, the fall in GDP also results to the increase in inflation. During recessions, economic activities are low so is price level.
