Answer:
The objective function is to minimize cost thru use of linear programming
Explanation:
A craftsman named William Barnes builds two kinds of birdhouses, one for wrens and a second for bluebirds. Each wren birdhouse takes 4 hours of labor and 4 units of lumber. Each bluebird house requires 2 hours of labor and 12 units of lumber. The craftsman has available 72 hours of labor and 120 units of lumber. Wren houses yield a profit of $ 10 each and bluebird houses yield a profit of $ 15 each. The aim of the objective function for William should be to ▼ Minimize Maximize the objective value.
The objective function is to minimize cost thru use of linear programming
<span>Through specialization, both producers and consumers benefit. On the producer side, specialization allows producers to best use their resources in the most efficient manner possible by playing to their strengths, thus maximizing profit. On the consumer side, the fact that producers are specialized and thus efficient in their production ensures lower production costs than if products were made by less-specialized producers, translating into lower consumer-facing prices.</span>
Read the fine print, if it says “after signing, this contract is final.” Then Otto is screwed, because he must pay the $50,000
Or, Otto could hire a lawyer to fight it in court
Hope this helped ♥︎
Answer:
The answer is: True
Explanation:
First of all, the classical dichotomy in economics assumes that real variables of the economy such as output of goods and services and real interest rates are not influenced by what happens to their nominal counterparts, such as the monetary value of output and nominal interest rate. It doesn´t consider inflation or the nominal supply, in other words money supply is neutral in the economy (because its value is adjusted to inflation).
The real problem with this theory, at least in the short run, is that in real life money supply, interest rates and inflation do affect the GDP of a country. When the money supply of an economy is increased then aggregate demand also increases. More money equals more demand. That happens because the prices of goods and services doesn´t adjust as fast as a change in the money supply. Also this theory doesn´t consider the monetary circuit theory about money being "created" by the banking system every time a loan is made.
