Draw the Network for This Assignment Problem

question 28

Essay

Draw the network for this assignment problem.
$$\begin{array} { l l } \text { Min } & 10 x _ { 1 \mathrm {~A} } + 12 x _ { 1 \mathrm {~B} } + 15 x _ { 1 \mathrm { C } } + 25 x _ { 1 \mathrm { D } } + 11 x _ { 2 \mathrm {~A} } + 14 x _ { 2 \mathrm {~B} } + 19 x _ { 2 \mathrm { C } } + 32 x _ { 2 \mathrm { D } } \\& + 18 x _ { 3 \mathrm {~A} } + 21 x _ { 3 \mathrm {~B} } + 23 x _ { 3 \mathrm { C } } + 29 x _ { 3 \mathrm { D } } + 15 x _ { 4 \mathrm {~A} } + 20 x _ { 4 \mathrm {~B} } + 26 x _ { 4 \mathrm { C } } + 28 x _ { 4 \mathrm { D } } \\\text { s.t. } \quad & x _ { 1 \mathrm {~A} } + x _ { 1 \mathrm {~B} } + x _ { 1 \mathrm { C } } + x _ { 1 \mathrm { D } } = 1 \\& x _ { 2 \mathrm {~A} } + x _ { 2 \mathrm {~B} } + x _ { 2 \mathrm { C } } + x _ { 2 \mathrm { D } } = 1 \\& x _ { 3 \mathrm {~A} } + x _ { 3 \mathrm {~B} } + x _ { 3 \mathrm { C } } + x _ { 3 \mathrm { D } } = 1 \\& x _ { 4 \mathrm {~A} } + x _ { 4 \mathrm {~B} } + x _ { 4 \mathrm { C } } + x _ { 4 \mathrm { D } } = 1 \\& x _ { 1 \mathrm {~A} } + x _ { 2 \mathrm {~A} } + x _ { 3 \mathrm {~A} } + x _ { 4 \mathrm {~A} } = 1 \\& x _ { 1 \mathrm {~B} } + x _ { 2 \mathrm {~B} } + x _ { 3 \mathrm {~B} } + x _ { 4 \mathrm {~B} } = 1 \\& x _ { 1 \mathrm { C } } + x _ { 2 \mathrm { C } } + x _ { 3 \mathrm { C } } + x _ { 4 \mathrm { C } } = 1 \\& x _ { 1 \mathrm { D } } + x _ { 2 \mathrm { D } } + x _ { 3 \mathrm { D } } + x _ { 4 \mathrm { D } } = 1\end{array}$$

Understand the concept of price elasticity of demand and how to calculate it using the midpoint method.

Recognize the relationship between price changes and total revenue, especially in terms of elasticity.

Understand the income elasticity of demand and how it differs from price elasticity.

Learn to distinguish between short-run and long-run elasticities and their implications.

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Definitions:

Portfolio Risk

Describes the uncertainty or variability of returns associated with a portfolio of investments, highlighting the combined risk of individual assets.

Systematic Risk

The risk inherent to the entire market or an entire market segment, which cannot be mitigated through diversification.

Asset Specific Risk

The risk of loss associated with a particular asset, different from market risk.

Portfolio Diversification

A risk management technique that mixes a wide variety of investments within a portfolio.