ABC,Inc,Is a Small Clothing Manufacturer That Produces Shirts and Pants

question 100

Multiple Choice

ABC,Inc.,is a small clothing manufacturer that produces shirts and pants using two resources: sewing machine hours and cutting machine hours.The production manager can schedule up to 240 hours of sewing machine time and up to 150 hour cutting machine time.Production of one shirt requires 3 hours of sewing time and 1 hour of cutting time.Each pair of pants requires 2 hours of sewing time and 1.5 hours of cutting time.Each shirt yields a profit of $5,and each pair of pants generates a $6 profit.The objective is to maximize profits.Let X₁ = Number of shirts to be produced,X₂ = Number of pairs of pants to be produced.Determine the value of X₁ and X₂ (that maximizes profit) using corner point method.

• A)X₁ = 0,X₂ = 100
• B)X₁ = 120,X₂ = 0
• C)X₁ = 84,X₂ = 24
• D)X₁ = 24,X₂ = 84

Grasp the interplay between market forces in determining wages, interest, and rent.

Understand the determinants and implications of land value and supply.

Compare different theories of profit, focusing on risk-bearing and innovation.

Explain the role of supply and demand in determining rent and interest rates.

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Definitions:

Racial Discrimination

Behaviour that has a discriminatory effect based on race; there does not have to be an intention to discriminate.

International Day

A day recognized globally to celebrate, remember, or bring awareness to specific issues, cultures, or social causes.

Residential Schools

Residential schools were government-sponsored religious schools established to assimilate Indigenous children into Euro-Canadian culture, often involving forced separation from their families and cultures, and have been widely criticized for their abuse and negative impacts on Indigenous communities.

Institutional Racism

Behaviour, policies, or practices that disadvantage racialized persons; can be intentional or unintentional.