An Electronics Firm Produces Two Models of Pocket Calculators: the A-100

question 59

Multiple Choice

An electronics firm produces two models of pocket calculators: the A-100 (A) and the B-200 (B) . Each model uses one circuit board, of which there are only 2,500 available for this week's production. In addition, the company has allocated a maximum of 800 hours of assembly time this week for producing these calculators. Each A-100 requires 15 minutes to produce while each B-200 requires 30 minutes to produce. The firm forecasts that it could sell a maximum of 4,000 of the A-100s this week and a maximum of 1,000 B-200s. Profits for the A-100 are $1.00 each and profits for the B-200 are $4.00 each.
-What is the time constraint?

• A)1A + 1B \(\le\) 800.
• B)0.25A + 0.5B \(\le\) 800.
• C)0.5A + 0.25B \(\le\) 800.
• D)1A + 0.5B \(\le\) 800.
• E)0.25A + 1B \(\le\) 800.

Identify conditions under which goods are substitutes or complements based on consumer preferences.

Understand the theoretical underpinnings of consumer choice theory in the context of demanding firm products.

Evaluate and critique economic statements related to consumer choices and constraints.

Understand the concept of a budget constraint and how it is represented graphically.

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