SOLUTION: Question One a) Explain the purpose of in-put output analysis in an economy. b) Discuss the assumptions of linear programming. c) Solve the following using matrix algebra

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Question 1142326: Question One
a) Explain the purpose of in-put output analysis in an economy.
b) Discuss the assumptions of linear programming.
c) Solve the following using matrix algebra

d) Describe the term game theory and describe at least three types of games.
e) Differentiate the following equation
f) Solve the following game

TABLE 1
PLAYER B
B1 B2
30 2
4 14
6 9
A1
PLAYER A A2
A3



g) A company estimates that the demand for its product fluctuates with the price it charges. The demand function is

Where q equals the number of units demanded and p equals the price in dollars. The total cost of producing q units of the product is estimated by the function

i. Determine how many units q should be produced in order to maximize the annual profit
ii. What price should be charged
iii. Determine The annual profit expected

Found 2 solutions by Alan3354, ikleyn:
Answer by Alan3354(69443)   (Show Source): You can put this solution on YOUR website!
Go away.
Answer by ikleyn(52835)   (Show Source): You can put this solution on YOUR website!
.

For this post , there is very appropriate phrase from O'Henry 

     . . . as busy as one-armed man with the nettle-rush when he is pasting on wall-paper . . .


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