<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:
The price elasticity of supply is 1.22
Explanation:
Please refer to the attached file
Answer:
d. cut spending equal to the reduction in tax revenue
Explanation:
Recession is basically a period of temporary economic decline where people usually buy less and less trade happens. When this happens, the government loses TAX revenue (money coming in from taxes) so a good way for govt. to balance the budget (amount that govt needs for spending on different areas) is to cut spending equal to the reduction in tax revenue (the reduction came about due to recession)
In other words, reduce spending by x dollars (here x dollar represents the lost tax revenue.
Answer: increase the income of farmers in developing nations.
Explanation:
Due to having weaker currencies, a lower standard of living and supplying raw materials, the farmers in developing nations are not paid a lot and so have to produce a significant amount of produce in order to get paid better.
International Commodity Agreements (ICAs), recognize that this is exploitative towards these farmers and so is working to increase the income that these farmers get in line with the fair trade system.
Answer:
Project manager
Explanation:
A project manager is responsible for coordinating activities that have a particular scope and defined ending or goal.
The project manager usually does not directly work on the project, but coordinates activities of various departments, making sure the project is on track at every stage.
He is responsible for conveying the goals and objectives of the undertaking.
In this instance, the manager takes on the role of project manager by successfully working with several people to raise $500,000.