Isoprofit - Study guides, Class notes & Summaries
Looking for the best study guides, study notes and summaries about Isoprofit? On this page you'll find 7 study documents about Isoprofit.
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ECON 212 Final exam 2024 with 100% correct answers
- Exam (elaborations) • 24 pages • 2024
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TRS correct answers-w1/w2 
 
Cost Function correct answersC(w1,w2,y) = w1x1 + w2x2 
 
Output (y) correct answersSub in x1 and x2 into Production Function 
 
Isoprofit Slope correct answersw1/p 
 
Isoprofit Y-int correct answersy = π/p + w1/p (x1) + w2/p (x2) 
 
Profit Function correct answersπ = Py - w1x1 - w2x2 
 
Gov Instituted Tax correct answersCosts Increase 
 
Gov Instituted Subsidy correct answersCosts Decrease 
 
Isoprofit Line correct answersProduction Function = f(x1,x2) = s.t. one o...
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DSCI Exam 1 2023 with 100% correct answers
- Exam (elaborations) • 5 pages • 2023
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Other names for business decision modeling 
-management science 
-operations research 
-quantitative analysis 
-operations management 
 
 
 
constrained mathematical model 
costs of an objective and one or more constraints 
 
 
 
classification by the model purpose 
-optimization models 
-prediction models 
 
 
 
classification by the degree of certainty of the data in the model 
-deterministic models 
-probabilistic models 
 
 
 
BDM Scientific Process 
1. prob definition 
2.. mathematical mode...
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Principles of Macroeconomics Question & Answers
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Principles of Macroeconomics Question & Answers 
Explain the aggregate demand in the Great Depression. - ANSWER: The downswing was driven 
by big falls in household and business investment, and in consumption of nondurables = shocks 
to AD. 
How are demand and isoprofit curves shown on a marginal cost diagram? - ANSWER: Demand 
curve = Firm's feasible frontier (slope = MRT) 
Isoprofit curves = Firm's indifference curves (slope = MRS) 
Firm maximises profits by choosing point where MRS = MRT 
H...
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IBA Year 1 Quantitative Decision Making Summary
- Summary • 13 pages • 2022
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The summary contains all chapters of the course Quantitative Decision making. I paid attention to all lecture slides, the workshops and the book. Received a 7.4 as a grade but I didnt study well and focused more on Operations Management.
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Linear Programming
- Presentation • 24 pages • 2022
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Linear Programming Presentation is about introduction, allocating resources, examples of successful LP applications, requirements of a linear programming problem, 5 basic assumptions of linear programming, formulating linear programming problems, formulation of LP problem, graphical solution method, slack and surplus variables, Iso-profit line solution, isoprofit lines steps, special cases in LP, the valuation of scarce resources and sensitivity analysis.
And that's how you make extra money
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Principles of Microeconomics Chapter 7 Notes
- Class notes • 4 pages • 2023
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Bullet points summarizing the contents of Chapter 7 of "The Economy" by Core.
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Consider again the two ways in which we can view the producer’s profit maximization problem. A: Suppose a homothetic production technology involves two inputs, labor and capital, and that its producer choice set is fully convex. (a) Illustrate the product
- Study guide • 3 pages • 2020
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Consider again the two ways in which we can view the producer’s profit maximization problem.
A: Suppose a homothetic production technology involves two inputs, labor and capital, and that its producer choice set is fully convex.
(a) Illustrate the production frontier in an isoquant graph with labor on the horizontal axis and capital on the vertical.

b) Does this production process have increasing or decreasing returns to scale? How would you be able to see this on an isoquant graph like the o...
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