Answer:
Command
Explanation:
In the command economic model, the government determines the level of economic productions in the country. It decides what will be produced, its quantity, and the cost price. A central authority or the government owns all the factors of production.
The command economy is also the planned economy. The government plans and produces all goods and services. The private sector is not present in the command economy.
Answer:
$0.40 ; $1 and $71.43%
Explanation:
The computation is shown below:
Excess cost is
= Unit cost - Salvage Value
= $1 - $0.60
= $0.40
The shortage cost is
= Selling value - unit cost
= $2 - $1
= $1
And, the optimal service level is
= Shortage cost ÷ (Shortage cost + excess cost)
= $1 ÷ $1.60
= 71.43%
Basically we applied the above formulas
Answer:
a. x3+x4<=1
Explanation:
We need a multiple choice constraint. Constraint x3+x4 <= 1 states that only one of the 2 options of landlord or contractor working on kitchen tiles can be used. (Assuming x3, x4 are binary variables)
Hence if x3 = 1, x4 is 0, and if x4=1, x3 becomes 0. Please note, there is no constraint in question specifying that kitchen tile has to be done. Hence, both x3 and x4 can be 0 depending on cost optimization, and x3+x4<=1 will still hold correct.
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Answer:
1. Y = 3730
2. Consumption function
Explanation:
1. Given that,
C = 140 + 0.9 (Yd)
T = 0.3Y
Yd=Y-T
I = 400, G = 800, X = 600, M = 0.15Y
Y = C + I + G + (X - M)
Y = 140 + 0.9 (Y - 0.3Y) + 400 + 800 + (600 - 0.15Y)
Y = 140 + 0.9 Y - 0.27Y + 1,800 - 0.15Y
Y = 1,940 + 0.48Y
Y - 0.48Y = 1,940
0.52Y = 1,940
Y = 3,730.76 or 3,730
2. C = 210 + 0.8 (Yd) is a consumption function.
