Maximizing revenue should be the goal of the firm Select one: O a. True O b. False
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A: The measure is as follows:
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- 4. A publisher prints copies of a popular weekly tabloid for distribution and sale. The fixed costs are $500 per print run, with each copy printed costing an additional $0.40. If C(q) is the cost function (in $) of the price of the print run as a function of copies printed, what is the formula for C(q)? Select one: a. C(q) = 500 + 0.4q b. C(q) = 500q + 0.4 c. C(q) = (500 + 0.4)q d. C(q) = 500 - 0.4q e. C(q) = 500q - 0.4 5. A hot dog vendor sells an average of 50 hot dogs during a Little League baseball game. If the sales are Normally distributed with a standard deviation of 7 hot dogs, what is the probability the vendor will sell between 45 and 65 hot dogs? Select one: a. 74.50% b. 92.36% c. 99.78% d. 174.50% e. 2.14 f. -0.71 g. 0.71Please do not give solution in image formate thanku. What is the difference between the breakeven and profit maximization objectives of the firm. Suppose a firm's revenue is given by R ( x ) = 30 x − 0.02 x 2 and its cost function can be represented by C ( x ) = 2 x + 5 , find the firm's profit-maximizing output.In a typical product mix model, where a companymust decide how much of each product to produceto maximize profit, discuss possible situations wherethere might not be any feasible solutions. Could these be realistic? If you had such a situation in your com-pany, how might you proceed?
- 1. Suppose you are going on a weekend trip to a city that is d miles away. Develop a model that determines your round-trip gasoline costs. What assumptions or approximations are necessary to treat this model as a deterministic model? Are these assumptions or approximations acceptable to you? 2. Suppose that a manager has a choice between the following two mathematical models of a given situation: (a)a relatively simple model that is a reasonable approximation of the real situation, and (b)a thorough and complex model that is the most accurate mathematical representation of the real situation possible. Why might the model described in part (a) be preferred by the manager?3. As an owner of a restaurant known as Ryuichi House, you have decided to break down the salesof the club into four categories, the first category is beverages. Your estimate of beverages salesis that 30,000 drinks will be served. The selling price for each unit will average 60Php; cost is30Php. The second category is meals, which you expect to be 10,000 units with an average priceof 400Php and a cost of 200Php. The third category is desserts, of which you also expect to sell10,000 units but with an average price of 100Php per unit sold and cost of 40Php per unit. Thefinal category is snacks, which you expect to total 20,000 units at an average price of 250Php witha cost of 130Php. You will also expense 72,000Php for rent, 8,000Php for utilities, and 80,000Phpfor the entertainment.a. How much is the total sales?b. What is your break-even point in pesos per month?I need help with d, e, and f. I already did a, b, and c. You do not need to use Solver or solve the problems. Just respond to the problem questions using the outputs provided in the problem. A picture in the attach image is a complete question. 1. Recall the Innis Investments problem (Chapter 2, Problem 39). Letting S= units purchased in the stock fund M= units purchased in the money market fund leads to the following formulation: Min 8S + 3M s.t. 50S + 100M≤ 1,200,000 funds available 5S + 4M≥ 60,000 Annual income M≥ 3,000 Units in money market S, M≥ 0 a. What is the optimal solution, and what is the minimum total risk? Already did this part b. Specify the objective coefficient ranges. Already did this part c. How much annual income will be earned by the portfolio? I also did this part too d. What is the rate of return for the portfolio? e. What is the dual value for the funds available constraint? f. What is the marginal rate of…
- A)What would the model be if the minimum calories were 450? B)What happens to the model if the total Liquid value is 3? C)What happens in the model if the coefficient of the objective function of peanut butter is 8? D)What should be the coefficient of the objective function for the cracker to be the basic variable? None of above less than 5.50 less than 1.43 less than 7.76 less than 6.56 E)What is the objective function value? Please donot provide solution in image format and it should be in step by step format and provide solution asap2 What is the role of linear programming in the business management? whay we need to study and understand LP? explain the special forms of LP.AutoTime, a manufacturer of electronic digital timers, has a monthly fixed cost of $50,000 and a production cost of $7 for each timer manufactured. The timers sell for $15 each. (a) What is the cost function C(x)?C(x) = (b) What is the revenue function R(x)?R(x) = (c) What is the profit function P(x)?P(x) = (d) Compute the profit (loss) corresponding to production levels of 3000, 6000, and 11,000 timers, respectively. (Input a negative value to indicate a loss.) 3000 timers $ 6000 timers $ 11,000 timers $
- Rollo Megabux has $1 million to invest in stocks orbonds. The percentage yield on each investment during thecoming year depends on whether the economy has a goodor a bad year (see Table 17). It is equally likely that theeconomy will have a good or a bad year.a If Rollo is risk-neutral, how should he invest hismoney?b For $10,000, Rollo can hire a consulting firm toforecast the state of the economy. The consulting firm’sforecasts have the following properties:P(good forecast|economy good) .80P(good forecast|economy bad) .20Should Rollo hire the consulting firm? What are EVSIand EVPI? Economy EconomyHas Good Has BadYear YearYield on stocks 22% 10%Yield on bonds 16% 14%XYZ Corporation manufactures two products, Simple and Complex. The following annual information was gathered: Simple Complex Selling price per unit P47.00 P26.00 Variable cost per unit 42.00 22.00 Total annual fixed costs are P18,000. Assume XYZ Corporation can produce and sell any mix of Simple or Complex at full capacity. It takes one hour to make one unit of Complex. However, Simple takes 50% longer to manufacture when compared to Complex. Only 120,000 hours of plant capacity are available. How many units of Simple and Complex should XYZ Corporation produce and sell in a year to maximize profits?We all hate to keep track of small change. By us-ing random numbers, it is possible to eliminate the need for change and give the store and the customera fair deal. This problem indicates how it couldbe done.a. Suppose that you buy something for $0.20. Howcould you use random numbers (built into the cashregister system) to decide whether you should pay$1.00 or nothing?b. If you bought something for $9.60, how wouldyou use random numbers to eliminate the need forchange?c. In the long run, why is this method fair to both thestore and the customers? Would you personally (asa customer) be willing to abide by such a system?