Consider the Scenario Given Below

question 62

Multiple Choice

Consider the scenario given below.Use Excel solver to answer the following question(s) .
Peca Inc.is a small manufacturer of two types of office chairs,the swivel and no-swivel models.The manufacturing process consists of two principal departments: fabrication and finishing.The fabrication department has 24 skilled workers,each of whom works 7 hours per day.The finishing department has 6 workers,who also work a 7-hour shift.A swivel type requires 7 labor hours in the fabricating department and 2 labor hours in finishing.The no-swivel model requires 8 labor hours in fabricating and 3 labor hours in finishing.Peca Inc.makes a net profit of $100 on the swivel model,and $130 on the no-swivel model.The company anticipates selling at least twice as many no-swivel models as swivel models.The company wants to determine how many of each model should be produced on a daily basis to maximize net profit.
-The difference between the right- and left-hand sides of the fabrication labor constraint is ________.

• A)5.25 units
• B)10.5 units
• C)0 units
• D)47.25 units

Distinguish between nomothetic and idiographic approaches and understand Allport’s contribution to personality psychology.

Learn about the mechanisms of the MMPI and the importance of validity scales in detecting biased responses.

Analyze the situation vs. trait controversy and critique the trait approach with respect to this debate.

Understand the various types of interests in land and their characteristics.

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Definitions:

Elastic Demand

A situation where the quantity demanded of a good or service changes significantly in response to price changes.

Inelastic Supply

A supply condition where quantity supplied does not change significantly when there is a change in price.

Deadweight Loss

A loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable, leading to a reduction in total surplus.

Excess Burden

A measure of the economic loss that can occur when market behavior is distorted, often due to inefficient taxation or government policies.