Business PGDM – 30th Batch Syllabus Subject Name: Operations Research Semester – II Subject Code: 203 Objective: Effective decision-making is the key to a manager’s success. Enhancement of productivity‚ optimum use of available resources and maximization of achievement of goals are important to the survival of an organization in today’s fiercely competitive world. Operations research provides mathematical & scientific tools for effective decision making. Objective of the course is to introduce
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For-Profit Education For-Profit education has been present for many years however has recently become a popular commodity. The for-profit educational world has been gaining popularity for a number of reasons. These include such aspects as access‚ student population‚ financial cost‚ etc. This paper will explore For-Profit education‚ a brief history‚ the students these institutions aim to serve‚ the intended focus of For-Profits and quality‚ the impact on higher education‚ and the roles of student
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investment) per month are: C = 20‚000 + 50Q + 3Q2 a. Express total profits (() in terms of Q. b. At what level of output are total profits maximized? What price will be charged? What are total profits at this output level? c. What market structure did you assume? Why? d. Would your answers in b change if the market for sewing machines were competitive? How? (Specify price‚ quantity‚ and profit levels.) 2. Zar Island Gas Company is the sole producer of natural gas
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Non-Profit vs. For-Profit The main difference between non-profit and for profit healthcare organizations are; Non-profit hospitals don’t need to pay property‚ sales or income taxes and receive grants from the government and through donations. They were designed to provide discounted fees for service or no fee to those in the surrounding communities with limited to no funds for healthcare‚ basically the poor or those who fall within the guidelines of those below poverty level. The tax exemptions
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For profit vs. not for profit organizations Melinda Colp AIU Online Healthcare Administration HCM630-1203D-01 Professor Michael Schmitt September 16‚ 2012 Non-Profit healthcare organization vs. for-profit healthcare organization “Hospitals can be non-profit‚ for-profit‚ and government-owned and/or operated” (Baker & Baker‚ 2006). There are different terms for each classification in how to report and handle the finances but the basics are the same for any type of business. Business
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Raggs‚ Ltd.‚ a clothing firm‚ determines that the marginal profit and marginal cost are given by ‚ . Find the total revenue if R(0) = 3000. 1‚ The distance profit is given by the definiteinte gral of (P’(x)) Px=P’x=150-0.5xdx =150x-0.25x2+CThe distance cost is given by the definiteinte gral of (C’(x)) Cx=C’x=4000+0.25x2dx =4000x-112x3+CWe have the total revenue is R(x) = P(x) + C(x) Cx=150x-0.25x2+C+4000x+112x3+C =112x3-0
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Total revenue Total cost Profit Pizza slice 1.50 6/8 slices = $0.75 0.75 Hot dog 1.50 0.45 1.05 Barbeque sandwich 2.25 0.90 1.35 Profit =Sell- Cost The profit function: maximize Z = $0.75* x1 + $1.05 * x2 + $1.35 * x3
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order to pursue a certain action. Put another way‚ the benefits you could have received by taking an alternative action. Opportunity cost can be defined as the value of the next best alternative forgone. It can be defined as the revenue or the profit that a person/organization would have been able to earn if it had exercised the alternative decision instead of the decision that has been made. Opportunity-cost has many practical business applications‚ because opportunity costs will exist as
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monopolistic competition are not price takers. Rather‚ they face a downward-sloping demand curve for their product. Profit for each firm is driven to zero in the long run as the demand for each firm’s product adjusts with the entry and exit of other firms. Scores: Average: 1 /1 ~~‚.‚.....‚.---..""""‚‚~ Next Question Aplia QNA 2.49 c 2004-2009 Aplia Inc. All rights reserved. 2. Profit maximization of a seller in a monopolistically competitive market Consider a shop that produces bagels in a monopolistically
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X1 ≥ X2 + X3 = X1 - X2 - X3 ≥ 0 Julia can sell at least twice as many hot dogs as barbecue sandwiches X2/X3 ≥ 2 = X2 ≥2 X3 =X2 - 2 X3 ≥ 0 X1‚ X2‚ X3 >= 0 (Non negativity constraint) Objective Function (Maximize Profit): Profit =Sell- Cost Profit function: Z = 0.75 X1 + 1.05 X2 + 1.35 X3 LPP Model: Maximize Z = 0.75 X1 + 1.05 X2 + 1.35 X3 Subject to 24.5 X1 + 16 X2 + 25 X3 ≤ 55296 0.75 X1 + 0.45 X2 + 0.90 X3 ≤ 1500 X1 - X2 - X3 ≥ 0 X2 - 2 X3
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