00 O 10 Ⓒ 20 30 20 10 GSS Consider the following linear program, with a graph of the feasibile region provided below the formulation max-402 +50 SE.. +2, 540 + ≤ 30 Of Ste+ lag 02 Faila 40 (10,20) (40/3, 40/3) (20, 10) What is the shadow price of the third constraint? 20 30 40
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- Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand will grow at 5% a year. If the company builds a plant that can produce x units of Wozac per year, it will cost 16x. Each unit of Wozac is sold for 3. Each unit of Wozac produced incurs a variable production cost of 0.20. It costs 0.40 per year to operate a unit of capacity. Determine how large a Wozac plant the company should build to maximize its expected profit over the next 10 years.Suppose that Pizza King and Noble Greek stopadvertising but must determine the price they will chargefor each pizza sold. Pizza King believes that Noble Greek’sprice is a random variable D having the following massfunction: P(D $6) .25, P(D $8) .50, P(D $10) .25. If Pizza King charges a price p1 and NobleGreek charges a price p2, Pizza King will sell 10025( p2 p1) pizzas. It costs Pizza King $4 to make a pizza.Pizza King is considering charging $5, $6, $7, $8, or $9 fora pizza. Use each decision criterion of this section todetermine the price that Pizza King should charge.Consider the following profit matrix O Oz 02 0, 04 30 23 10 -3 a2 15 27 20 19 az 13 17 29 32 18 a4 31 21 13 No probabilities are known for the occurrence of the nature states. Compare the solutions obtained by each of the following criteria: а. Laplace b. Махіmin(Minimax) c. Savage d. Hurwitz (assume that a = 0.5)
- Consider the payoff matrix for a game with players A and B. bị b2 a1 (2,5) (4,2) az (3,4) (1,8) How many pure Nash equilibria does this game have? 1 0. 4.10. For the elementary single period model on the state space = {H,T}, we have interest rate r = 13 and the prices of a risky asset S are S₁ = 1, S₁(H) = 3, S₁(T) (a) Identify the risk-neutral probability measure P = (b) Find the replicating trading strategy for the European put option with strike price K2 with the underlying risky asset S.Consider a project with the following cash flows: year 1, 2$400; year 2, $200; year 3, $600; year 4, 2$900; year 5, $1000; year 6, $250; year 7, $230. Assume a discount rate of 15% per year.a. Find the project’s NPV if cash flows occur at the ends of the respective years.b. Find the project’s NPV if cash flows occur at the beginnings of the respective years.c. Find the project’s NPV if cash flows occur at the middles of the respective years.
- The alternatives shown are to be compared on the basis of their present worth values. At an interest rate of 8% per year, the values of n that you should use in the uniform series factors to make a correct comparison by the present worth method are: Alternative(A) Alternative (B) -25,000 -10,000 10,000 First Cost M&O cost/year 3,000 Salvage value 6,000 -2,000 Life 4 O A n 4 years for A and n =4 years for B OB. None of the above O C. n = 4 years for A and n =3 years for B O D. n = 12 years for A and n = 12 years for BIn a particular bond market, thetwo - year par yield at time t = 0is 4.15% and the issue price attime t = 0 of a two - year fixedinterest stock, paying coupons of8% annually in arrears and redeemed at 98, is $105.40 per$100 nominal. Calculate: (a) theone - year spot rate (b) the two -year spot rateSuppose the equilibrium price for good quality used cars is $20,000. And the equilibrium price for poor quality used cars is $10,000. Assume a potential used car buyer has imperfect information as to the condition of any given used car. Assume this potential buyer believes the probability a given used car is good quality is .60 and the probability a given used car is low quality is .40. Assume the seller has perfect information on all cars in inventory. What policy or mechanism could solve any informational imbalances and restore the market to an efficient allocation of used cars? a. Third-party provided information on the history of the car (ex: maintenance records, accident records, verified millage and verify repairs). b. Legal remedies and laws restricting fraudulent sales of used cars. c. Obtainablepublications discussing quality, price and possible repairs of all cars --used and new. d. All of the above.
- Maximize C- 16A + 21B subject to 9A +15B $22 10A + 3B ≤ 29 and A≥0, B20. What is the optimal value of A? O 2.444 O 0.000 39.11 O 4.222Player A and B play a game in which each has three coins, a 5p, 10p and a 20p. Each selects a coin without the knowledge of the other’s choice. If the sum of the coins is an odd amount, then A wins B’s coin. But, if the sum is even, then B wins A’s coin. Find the best strategy for each player and the values of the game.Billy's Bakery bakes fresh bagels each morning. The daily demand for bagels is a random variable with a distribution estimated from prior experience given by the following table, where X= Number of Bagels Sold in One Day: 10 15 20 25 30 35 Probability 0.05 0.10 | 0.10 0.20 0.25 0.15 0.10 | 0.05 The bagels cost Billy's 8 cents to make, and they are sold for 35 cents each. Bagels unsold at the end of the day are purchased by a nearby charity soup kitchen for 3 cents each. Based on the given discrete distribution, how many bagels should Billy's bake at the start of each day?