Question: The question is incomplete. See the full question below and the answer.
You are an up-and-coming developer in downtown Seattle and are interested in constructing a building on a site you own. You have collected four bids from prospective contractors. The bids include both a cost ($millions) and time to completion (months):
Contractor Cost Time
A 100 20
B 80 25
C 79 28
D 82 26
The problem now is to decide which contractor to choose. B has indicated that for another $20 million, he could do the job in 18 months, and you have said that you would be indifferent between that bid and the original proposal. In talking with C, you have indicated that you would just as soon pay her an extra $million if she could get the job done in 26 months. Who gets the job? Explain your reasoning. (It may be convenient to plot the four alternatives on a graph.)
Answer:
See the explanation for the answer and find attached of the graph.
Explanation:
So we draw a regression line of Time vs Cost and best fit a curve based on the data given, given in the above figure. The four alternatives are marked in the figure as well. Our main objective is to reduce both time and cost, but that might not be possible So the best thing would be to look for alternatives which lie below the line. If C gets an extra million, then that point would come below the regression line, and it would be a better alternative than D, because for the same time we are getting the job done at a cheaper cost.
Also if B is paid extra 20 million, that point also comes below the regression line, and hence will be a better alternative than A because for the same cost again we are getting the job done earlier. We need to choose between B and C. Now in order to optimise both cost and time, we need to choose a point close to the middle point of the regression line segment in 1st quadrant. We see that C is much more closer to the middle point and hence seems like a better option.
So we choose C as our contractor if we consider B's alternative bid, but if we do not consider B's alternative bid and stick to the original one, we choose B as our contractor.
This will decrease the supply of low-skilled workers and increase the supply of high-skilled workers.
- The economic theory of supply and demand describes how prices are set in a market. In a competitive market, it is hypothesized that, all else being equal, the unit price for a specific good or other traded good, such as labor or liquid financial assets, will fluctuate until it settles at a point where the quantity demanded will equal the quantity supplied, resulting in an economic equilibrium for price and quantity transacted. It is the theoretical cornerstone of contemporary economics.
- The link between supply and demand is crucial because it helps to establish the costs and availability of the majority of goods and services in a given market. The interplay between supply and demand eventually balances out in accordance with the tenets of a market economy.
Thus this is the answer.
To learn more about supply and demand, refer: brainly.com/question/2398546
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Diagnostic and Statistical Manual of Mental Disorder (DSM), Fifth Edition. It is the 2013 refresh to the American Psychiatric Association's (APA) order and analytic instrument. In the United States, the DSM fills in as an all inclusive specialist for psychiatric conclusions. Treatment proposals, and also installment by human services suppliers, are regularly dictated by DSM orders, so the presence of another variant has critical functional significance.
Answer:
Inventory levels will increase
Explanation:
CVP stands for cost volume profit analysis, under this analysis, there is basic assumption with respect to cost and revenue, that they are linear.
That means with the increase in output or sales, there will be increase in costs associated as cost is linear, and also the revenue is linear as with increase or decrease in number of units sold, the revenue will also increase or decrease.
But, it has an assumption that the inventory balance do not change, and inventory in hand do not show a linear equation as with the number of units produced or sold.
Thus, "Inventory levels do not increase under CVP analysis".
Answer:
Software comprises the entire set of programs, procedures, and routines associated with the operation of a computer system. The term was coined to differentiate these instructions from hardware—i.e., the physical components of a computer system.
