Question: This combination is optimal because Job 2 has the higher wage and the binding constraint x + y 23 x+y23 allows allocating all 23 available

This combination is optimal because Job 2 has the higher wage and the binding constraint x + y 23 x+y23 allows allocating all 23 available hours to Job 2 while still satisfying 2 x + y 27 2x+y27

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

In 20x1, Fleming Chemicals used the following input combination to produce 55,000 gallons of an industrial solvent:...

In 2000, Melrose Company used the following input combination to produce 10,000 units of output: In 2001, Melrose again planned to produce 10,000 units and was considering two different changes in...

In 2012, Fleming Chemicals used the following input combination to produce 55,000 gallons of an industrial solvent: Materials ...................... 33,000 lbs. Labor .............................

In 2006, Fleming Chemicals used the following input combination to produce 55,000 gallons of an industrial solvent: In 2007, Fleming again planned to produce 55,000 gallons of solvent and was...

In 2014, Fleming Chemicals used the following input combination to produce 55,000 gallons of an industrial solvent: Materials .....33,000 lbs. Labor ......66,000 hrs. In 2015, Fleming again planned...

In 2009, Melrose Chemicals used the following input combination to produce 55,000 gallons of an industrial solvent: Materials ... 33,000 lbs. Labor ..... 66,000 hrs. In 2010, Melrose again planned to...

ECON6032 Application assessment 1 Consult the factsheets on overtime rates and penalty rates and the discussion of the effects of penalty rate reductions linked to below. 1. A worker is currently...

Productivity Measurement, Technical and Price Efficiency In 20x1, Fleming Chemicals used the following input combination to produce 55,000 gallons of an industrial solvent: Materials 33,000 lbs....

Productivity Measurement, Technical and Price Efficiency In 2014, Fleming Chemicals used the following input combination to produce 59,500 gallons of an industrial solvent: Materials 33,150 lbs....

Consider an undirected graph G with vertices V and edges E. For each edge (u,v) in E, we have a weight w(u,v) specifying the cost to connect vertices u and v. We then wish to find an acyclic subset T...

When preparing the 2015 schedule, you do not know about any changes that come about in 2016 (i.e., prepare the 2015 schedule with 2015 information only). Given the following information for Company Z...

A cylinder fitted with a spring-loaded piston serves as the supply of steam for a steam turbine. Initially, the cylinder pressure is 2 MPa and the volume is 1.0 m3. The force exerted by the spring is...

Find the average rate of change per year during the period from 2 0 0 3 to 2 0 0 9 .

How to make best data base management in real estate to catch fraud of consumer.