4. A decorator, who is a monopolist, makes two types of specialty picture frames. From experience, the decorator has determined that if x frames of the first type and y frames of the second type are made and put on sale in a showroom, they can be sold for (100 – 2x) dallars and (120 – 3y) dollars each, respectively. The total cost of constructing these frames is (12x +12y +4xy) dollars. How many frames of each type should be produced to realize the maximum profit, and what is the maximum profit? Make sure to verify that this is indeed a maximum.
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- Mika earns $232 per week which she spends entirely at the grocery store, purchasing either food or alcohol. The price of food is $1/unit, while the price of alcohol is $3/unit. If Mika receives an additional $75/week in food stamps that can only be only be used to buy food at the grocery store (so, this money could be used to buy food but NOT alcohol), what is the vertical coordinate of the vertical intercept of Mika's budget constraint if she were to graph quantity of food on the horizontal axis and quantity of alcohol on the vertical axis? (Note: The answer may not be a whole number, so round to the nearest hundredth) (Note: The numbers may change between questions, so read carefully).4.4 how am i supposed to show this, are there going to be two lines crossing over eachother?You'd like to study social networks. Consider the following 7 people {A,B,C,D,E,F,G} in a social network graph. (These people can be thought of as "nodes" or points drawn on a piece of paper.) Here, we'd like to model "followers." How many different ways can we draw arrows between two people from these 7? Here, "A-->B" (A is a follower of B) is not the same as "B-->A" (B is a follower of A). Order matters here
- Suppose that Verania and Josimar are roommates that need to complete some household chores. Vacuuming and washing dishes need to be done. They know from the last time they did these chores that it takes Verania 2 hours to vacuum and 1 hour to wash dishes. It takes Josimar 3 hours to vacuum and 2 hours to wash dishes. Josimar says it does not matter which task each of them performs because Verania is faster at both tasks. Josimar’s reasoning a. is wrong. Because Verania has a comparative advantage in washing dishes, she should wash dishes, and Josimar should vacuum. b. is correct. Because Verania is faster at both tasks, there is no benefit in each volunteer specializing in one task or the other. c. is wrong. Because Verania has an absolute advantage in both tasks, she should perform both tasks herself. d. is wrong. Because Josimar has a comparative advantage in washing dishes, he should wash dishes, and Verania should vacuum.Assume the market clearing price is $5.00 for deli sandwiches and the amount of exchange that would take place at that price is 200 deli sandwiches per day. You, however, don't have this information and have just opened your deli. You decide to price your sandwiches at $9.00 and are willing and able to sell 285 sandwiches per day at that price. When you do this, you notice you sell 100 sandwiches per day. Draw this situation on a graph and then explain what will happen in this market -- i. e., if there is a shortage or surplus, show this on the graph and then explain what the shortage or surplus will cause to happen in the market. Make sure you talk about inventories in your answer.Olivia and Yixing are volunteering at a cat rescue shelter. The shelter supervisor asks them to clean out kennels and haul bags of cat food from the donation area into storage. It takes Olivia 6 minutes to clean out a kennel and 6 minutes to move a bag of food. It takes Yixing 10 minutes to clean out a kennel and 12 minutes to move a bag of food. For the following questions, round each answer to the nearest tenth. a. ( Yixing, Olivia _______has an absolute advantage in completing both tasks. b. Olivia’s opportunity cost of cleaning a kennel: _____ bags of food moved. c. Olivia’s opportunity cost of moving one bag of food: ______kennels cleaned. d. Yixing’s opportunity cost of cleaning a kennel: ______bags of food moved. e. Yixing’s opportunity cost of moving one bag of food: ______kennels cleaned. f. Yixing says it does not matter which task each of them performs, because Olivia is faster at both tasks.…
- How do I graph this? My equilibrium I'm getting P=14 but when I plug that into the equations I'm getting Qs= 21 and Qd= 7.Minerals 25 (millions of tons) 20 15 10 5 5 10 15 20 25 Grapes (millions of tons) Figure 1 Production possibility frontier for Highland Towards the right of Figure 1 are two circular red markers with a line between them that you can use to draw a production possibility frontier on Figure 1. You can move the markers with the mouse by clicking on them and dragging. Alternatively, you can tab to each marker and then use the keyboard arrow keys. Decide where to position the red markers based on the information below. There are two countries, called Highland and Lowland, with very different geography. They both produce grapes and dig for minerals, using only labour, with constant returns to scale. Figure 1 shows the production possibility frontier for Highland and the table shows the working population and productivity for Lowland. Working population and production possibilities Working population Production of tons of grapes per person per year Production of tons of minerals per person per…There was once a tree on the Campus of Benedict College that students labeled the “Dummy Tree.” This was done because students that were often seen under the tree were considered to be wasting their very valuable time. Therefore, this tree was attributed with contributing to the bad grades of those students that were constantly under the tree. Let’s say that a student spent 4 hours a week under the tree and was supposed to spend 15 hours a week in class. Further suppose that this particular student made some new friends through out the semester that are bad influences. They were able to convince him to hang out longer under the tree. So now he is under the tree 7 hours a week. What happened to his class time? Show a production possibilities model that may have demonstrated this student’s behavior. Do not forget to include opportunity costs in your analysis.
- Need help with this. Thanks! Just for information the point can move left and right and the line can move up and down. When line moves up the point can move to the left only and when the line moves down, the point can move to the right only. I hope that makes sense to you.10. A retail store in Des Moines, Iowa, receives shipments of a particular product from Kansas City and Minneapolis. Let x = number of units of the product received from Kansas City y = number of units of the product received from Minneapolis a. Write an expression for the total number of units of the product received by the retail store in Des Moines. b. Shipments from Kansas City cost $0.20 per unit, and shipments from Minneapolis cost $0.25 per unit. Develop an objective function representing the total cost of ship- ments to Des Moines. c. Assuming the monthly demand at the retail store is 5000 units, develop a constraint that requires 5000 units to be shipped to Des Moines. d. No more than 4000 units can be shipped from Kansas City, and no more than 3000 units can be shipped from Minneapolis in a month. Develop constraints to model this situation. e. Of course, negative amounts cannot be shipped. Combine the objective function and constraints developed to state a mathematical model…In the Disney movie Frozen, the Kingdom of Arendelle changes overnight from a warm, flower filled place to being completely frozen (the story takes place in July). Just after this change in weather, there is a scene where two characters visit a trading post. At the trading post one character (Kristoff) is looking to buy winter transportation equipment and eventually sell some ice. The other character (Anna) is looking to buy some winter clothes. A link to the scene can be found in the module. For this assignment, please show how this change in weather would likely effect the markets for winter transportation equipment, winter clothes, and ice (assume the ice would be used by people who want to cool drinks). Specifically, draw a new supply or demand curve for the products and identify new equilibrium quantity or supply if you think the change in weather would have an impact on any of those measurements. In the clip Kristoff calls Oaken a crook for charging higher prices than he…