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3 years ago

An optimization model __________.

Business

1 answer:

storchak [24]3 years ago

3 0

Answer:

3) is a type of mathematical model used when the user seeks to optimize some objective function subject to some constraints

Explanation:

Optimization models are used by businesses to try to solve some specific problem by optimizing or minimizing its function.

For example, you want to optimize your inventory management. Your goal will be to lower your inventory costs by maximizing inventory turnover.

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4 years ago

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Answer:

The definition becomes outlined throughout the clarification subsection according to the particular circumstance.

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3 years ago

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The answer is participative leadership (option C)

Explanation:

Participative leadership is a style of management that welcomes input, ideas and observations from employees before the company embarks on or adopt a decision.

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3 years ago

Rain spoils the strawberry crop, the price of strawberries rises from $2 to $4 a box, and the quantity demanded decreases fr

Veseljchak [2.6K]

Answer:

a. Price elasticity of demand is 3.5.

b. Demand for strawberries elastic.

Explanation:

a. Calculate the price elasticity of demand over this price range.

Price elasticity of demand can be calculated as the percentage change in price divided by percentage change in quantity demanded.

We can therefore proceed as follows:

Percentage change in price = [(4 - 2) ÷ 2] × 100 = 100%

Percentage change in quantity demanded = [(1,400 - 1,000) ÷ 1,400] × 100 = 28.57%

Price elasticity of demand = 100% ÷ 28.57% = 3.5

Therefore, the price elasticity of demand over this price range is 3.5.

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Since the calculated price elasticity of demand of 3.5 is greater 1, this implies that demand for strawberries elastic. That is, customers are sensitive and more responsive to the change in price of strawberries.

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4 years ago