Department of Career & Professional Development Final Examination — Spring 2012 Student Name Student Number Mathematics for Management CMS2 500 Lecturer: G. Brown Date: Time: 11July 2012 6:00 – 9:00 p.m. INSTRUCTIONS: This is a closed book examination. Mark your answers in the exam booklet. You are permitted non-electronic translation dictionaries only. Handheld devices capable of storing text are NOT permitted. Calculators are permitted. Only noiseless non-programmable calculators are permitted
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Arizona; with nearly 615‚000 estimated pools‚ there is definitely a chance to make money. H2O Pro Pool Services‚ LLC seized upon this chance in 2011 and is currently servicing about 65 pools in the Scottsdale area. Looking to increase revenues and profits‚ H2O Pro developed a plan to create a new service called a “One-Time Clean” in which the company would provide a clean-up service to customers on a one time basis. With the housing market currently turning around‚ people are purchasing homes that
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the handsets‚ no perfect knowledge. (b) Explain the statement ‘one result will be that cross-subsidisation will disappear and the price of a new handset will go up considerably.’ Explanation of meaning of subsidising one product or service by the profits on another which
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furniture itself and has 480 hours of labour available each month. Each table or chair requires 6 hours of labour. Each table nets Oak Works $400 in profit‚ while each chair nets them $100 in profit. Since chairs are often sold with tables they want to produce at least twice as many chairs as tables. Formula a linear program to maximize profit. Let T = # of tables to produce C = # of chairs to produce Maximize P = $400T + $100C subject to 50T + 25C≤ 2‚500 -> Raw Material Constraint 6T
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University of Toronto Department of Economics (STG) ECO 204 2011 - 2012 Sayed Ajaz Hussain Lecture 1 © Sayed Ajaz Hussain‚ Department of Economics‚ University of Toronto‚ STG 1 Today About ECO 204 Motivational Example HBS Case: The Prestige Telephone Company Types of Optimization Methods in ECO 204 Unconstrained Optimization Evaluating change in optimal solution due to a small increase in a parameter Feedback? economics204@gmail.com © Sayed Ajaz Hussain‚ Department of Economics
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PERFECT COMPETITION Short Run Equilibrium of the Firm Under Perfect Competition: Definition and Explanation: By short run is meant a length of time which is not enough to change the level of fixed inputs or the number of firms in the industry but long enough to change the level of output by changing variable inputs. In short period‚ a distinction is made of two types of costs (i) fixed cost and (ii) variable cost. The fixed cost in the form of fixed factors i.e.‚ plant‚ machinery
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Nonprofit versus For-Profit Healthcare and Organizations Abstract This paper explores articles and research conducted on nonprofit versus For-Profit Healthcare and Organizations. There are three types of entities that own hospitals‚ which are: nonprofit‚ for-profit‚ and government. However‚ it can’t be determined if they specialize in different medical services or how their service profits affect certain specializations. More than likely‚ the for-profits offer profitable medical services that
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needs to make a decision as to if 60 additional rooms reservations should be accepted which could lead to overbooking (Weatherford & Bodily‚1990). It is a problem of capacity utilization that is being faced in this particular case where revenue maximization is aimed while minimizing customer dissatisfaction. In this report the case is put forward and various methods have been chosen to come to a sensible conclusion. Firstly the raw data provided is used and the exponential smoothing model (ESM)
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markets is practicing price discrimination Selected Answer: b. when it is charging different consumers different prices and the price difference is not based upon cost differences. Question 2 4 out of 4 points To maximize profit a price discriminating firm should Selected Answer: d. both a and c Question 3 0 out of 4 points If a firm is selling a product in two markets‚ A and B‚ and the marginal revenue in A is $25 and the marginal revenue
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of this topic‚ you should be able to: 1. outline the charcateristics of monopoly‚ monopolistic and oligopoly; 2. draw the demand curve for the monopoly‚ 3. explain how monopoly achieves market equilibrium in the short run; 4. analyse the different profit situations encountered by the monopolist; and; 5. discuss the characteristics of monopolistic and oligopoly. 114 OUM TOPIC 8: MONOPOLY‚ MONOPOLISTIC AND OLIGOPOLY 8.1 Monopoly Monopoly is an industry that has only one firm that sells
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