A. To supervise employees over their daily tasks. Typically, middle-level managers are responsible for overseeing their teams and employees to help a company accomplish its goals through project and team management. They will implement policies and objectives, and manage expectations with senior-level management.
Answer:
Objective function:
Maximize Z: 30P1 + 25P2 + 28P3
Subject to: 2.00P1 + 1.50P2 + 3.00P3 ≤ 450 (Department A constraint)
2.50P1 + 2.00P2 + P3 ≤ 350 (Department B constraint)
0.25P1 + 0.25P2 + 0.25P3 ≤ 50 (Department C constraint)
P1, P2, P3 ≥ 0 (Non-negativity)
Explanation:
The objective function is formulated from the contribution margin of the three products. For instance, the contribution of Product 1 is $30, the contribution of Product 2 is $25 and the contribution of Product 3 is $28. Thus, the objective function will be 30P1 + 25P2 + 28P3.
The constraints were obtained from the departmental labour hours requirements for each product. For instance, Product 1 requires 2 hours in department A, Product 2 requires 1.50 hours in department A and Product 3 requires 3 hours in Department A. Thus, the constraint will be 2.00P1 + 1.50P2 + 3.00P3.
Answer: Option (c) is correct.
Explanation:
Correct option: The demand facing the firm is downward-sloping because it is the market demand.
In a monopoly market conditions, there is a single seller in the market and the monopolist firm is price setter. But the demand curve faced by the monopoly firm is downward sloping because monopolist is a single firm who is operating in the market and there is a need to reduce prices if he wants to sell an additional units.
Answer:
C. a movement down along the supply curve for that good.
Explanation:
A decrease in price would lead to a decrease in the quantity supplied and a movement down along the supply curve.
This is in accordance to the law of supply which says the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.
The answer is Congress :)
