Jimmy will have $85979 in wealth and a utility of 336 when he is healthy and $38400 in wealth and a utility of 206 when he is ill. What is Jimmy’s expected utility if the chance of illness is 0.12?
** Show work please
Joan Salmon is the 35 year old daughter of Garret Salmon the owner of a medium sized party invitation company “Invitations Inc.” Joan has recently received a degree from UMUC in Business Management and is anxious to take over her father’s company. She is a single mother, very attractive but a little retiring in her manner. She and her father have been planning her take over for several years, ever since her ex-husband left the business after their divorce, an event that did not go unnoticed within the company. Joan has always worked in some capacity within the company but never in a serious leadership role. She is simply known as the “boss’ daughter”. Joan and her father have agreed that she will take over as CEO in the next two months. No one knows of this decision.
Jimmy wants to take English 111, a 3 credit course, at a local community college. He was told by the college business office that the course would cost him $712.30. What is the cost per hour of this course
JOAN OF ARC: Joan’s Mission
What is Joan’s story? How did a teenage girl become a hero that is still revered centuries later?did Joan of Arc actually live? How is she viewed today by the French people and by Catholics worldwide?
indifferent between owning the lottery ticket or owning $400 in cash.
True or false and explain: if the probability of the lottery ticket winning decreases to 25%, Jimmy will be willing to sell the lottery ticket for $150.
Joan is on summer break and spends most of her time either playing video games
or browsing the internet. Her utility function is U(q1; q2) = 3q0:2
1 q0:8
2 , where q1 represents the
hours spent browsing the internet and q2 hours playing video games. Joan does not have a budget
constraint but she has 15 hours to spend on both activities.
(a) (5 points) Write the equation for one of Joan’s indifference curves when the level of utility is
equal to 100.
(b) (5 points) Write Joan’s time constraint.
(c) (10 points) Find the amount of hours that Joan will spend on each activity that maximizes her
utility and satisfies her time constraint. Use either the substitution or Lagrangian method.
(d) (5 points) Can Joan afford any bundle that yields a utility of 50? Explain.
(e) (5 points) How does Joan’s optimum amount of time spent on each activity change if her
utility function is U(q1; q2) = 5ln(3) + ln(q1) + 4ln(q2)?
Jimbo Enterprises produces n products. Each product can be produced in one of m machines. Let t_ij be the time in hours needed to produce one unit of product i on machine j. For month k, the number of hours available on machine j is h_kj .Customers are willing to buy UP TO d_ik units of product i in month k at the unit cost of c_ik.
Formulate an LP that Jimbo can use to maximize the revenue by selling the products for the next p months.
I’m looking for the most detailed answer with explanation for each step. Thanks!
production
20,000
20,000
20,000
20,000
Actual production
20,000
14,000
–
–
The company’s plant is heavily automated, so fixed manufacturing overhead costs total $800,000 per quarter. Variable manufacturing costs are $30 per unit. The fixed manufacturing overhead cost is applied to units at the rate of $40 per unit (based on the budgeted production shown above → $800,000/20,000 units = $40 per unit). Any Production Volume Variance is closed directly to COGS for the quarter.
The company had 3,000 units in inventory at the start of the first quarter. Variable selling and administrative expenses are $5 per unit.
Required:
Prepare a variable cost (contribution format) income statement for the first two quarters. (worth 40%)Explain why the operating incomes are different. (worth 20%)
Joan has been a manager with Argos for the past 15 years. She is known to be aggressive and tough and always gets results. She is demanding of her employees and is often brusque with them. Last Thursday, she passed James in the hall and remarked that he looked good in his new gray suit. James filed a sexual harassment lawsuit naming Argos and Joan. Which of the following statements is most correct?a) James has no chance of winning, based on the facts presented. Joan was simply trying to make a positive comment and ‘ease’ her tough demeanor.b) James could win the suit if he provided information that showed that Joan had never made such comments to anyone before and had made them to him before.c) James could win if Joan had winked at him when she made the comment.d) James can win if he can show that he and Joan had had a relationship in the past.e) He can win, but only if Joan has implied that she wants him to have sex with her and offers a promotion if he will.f) James can win if he shows that Joan makes such comments to him alone, although he has said that he does not feel comfortable with such comments.RationaleInclude your rationale essay here. (Please cite references to support your answer.)
Solution a) James has no chance of winning, based on the facts presented. Joan was simply trying to makea positive comment and ‘ease’ her tough demeanor.There has been no instance of a sexual…
3. Joan buys gasoline and food. When the price of gasoline is $1.00 per gallon, she
buys 50 gallons per week and spends $50 on food per week. the government want to
reduce consumption of gasoline as part of an environmental policy and is considering two
alternatives. They are: (1) restrict the number of gallons of gasoline anyone can buy to
40 gallons per week, and (2) Raise the price of gasoline to $1.25 per gallon. Assume for
simplicity that food always costs $1 per unit.
(a) Show on a graph Joan’s initial budget line and the budget lines under policy (1)
and policy (2).
(b) Suppose that Joan’s most preferred market basket under policy (2) is to consume
40 gallons per week. Show this on the consumption diagram. Would Joan be better o
under policy (1) or (2)?
(c) If Joan’s preferred market basket under policy (2) is to consume 70 gallons per
week, would your answer to (b) change?
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