Economics 3070 Fall 2008
Problem Set 1
(Due Sept. 10th in class) Chapter problems are from edition 2 of the textbook 1. Ch 1, Problem 1.3
A firm produces cellular telephone service using equipment and labor. When it uses E machine-hours of equipment and h
Let us flip a fair coin once (there is a fee).
If you win I give you $102. If I win, you give me $100.
How much fee will you pay me for playing the game: $5, $2, $1, $0?
Transportation is considered as a special
case of LP
it can be formulated using LP technique so is
Here, we attempt to firstly define what
are them and then studying their solution
Dr. Ron Lembke
Linear programming is good at solving
problems with zillions of options, and
finding the optimal solution.
n Could it work for transportation problems?
n Costs are linear, and shipment quantit
USING EXCEL SOLVER IN OPTIMIZATION PROBLEMS
John Jay College of Criminal Justice of CUNY
Mathematics and Computer Science Department
445 West 59th Street, New York, NY 10019
We illustrate the use of spr
Degree of Inflation
Depending on the percentage of inflation in a country, different
technology is use to explain the nature of the inflation.
This is a situation where the inflation rate is below 6% most Economists
would agree that this type of inflation