• A well-defined objective function. The objective must be sated and it can be a maximization or a minimization of costs.
• There must be limited resources. There must be restrictions to the amount of resources used to attain the objective and those resources must be quantified economically and limited in supply.
• Alternative cost of actions. Since a firm uses many alternatives or a combination of resources to achieve its chosen goals there must be alternative causes of actions.
• Mathematical formulation. The organization objective equation and the inequalities must be mathematically expressed in order to obtain accurate means of measurement.
• Linearity of the objective function and constraints. All the equations and the equalities must describe the problem in a linear form
skilled writter answered the question on April 27, 2018 at 17:49
-
State the applications of indifference curves
(Solved)
State the applications of indifference curves
Date posted:
April 26, 2018
.
Answers (1)
-
Explain four ways in which trading countries benefits from economic integration
(Solved)
Explain four ways in which trading countries benefits from economic integration.
Date posted:
April 26, 2018
.
Answers (1)
-
State six limitations of Ricardian comparative cost theory.
(Solved)
State six limitations of Ricardian comparative cost theory
Date posted:
April 26, 2018
.
Answers (1)
-
State the assumptions of Ricardo’s theory of comparative advantage
(Solved)
Explain three types of production cost.
Date posted:
April 26, 2018
.
Answers (1)
-
List the impacts of tariffs
(Solved)
List the impacts of tariffs.
Date posted:
April 26, 2018
.
Answers (1)
-
Using relevant examples, discuss FIVE methods of protectionism
(Solved)
Using relevant examples, discuss FIVE methods of protectionism
ECO 414: INTERNATIONAL ECONOMICS 1
FOURTH YEAR FIRST SEMESTER
TOPIC: Protectionism
Date posted:
April 22, 2018
.
Answers (1)
-
Discuss the effects of Government borrowing on the Economy and give a possible solution to the problems
(Solved)
Discuss the effects of Government borrowing on the Economy and give a possible solution to the problems.
Date posted:
April 22, 2018
.
Answers (1)
-
Evaluate the historical approach’s view regarding the explanation of the subject matter and functions of public approach
(Solved)
Evaluate the historical approach’s view regarding the explanation of the subject matter and functions of public approach.
Date posted:
April 22, 2018
.
Answers (1)
-
State and explain assumptions of the Ordinary Least Squares
(Solved)
State and explain assumptions of the Ordinary Least Squares.
Date posted:
April 22, 2018
.
Answers (1)
-
State and explain the steps an econometrician uses to carry out Econometric Analysis
(Solved)
State and explain the steps an econometrician uses to carry out Econometric Analysis.
Date posted:
April 22, 2018
.
Answers (1)
-
What are the problems facing the Kenya’s economy?
(Solved)
What are the problems facing the Kenya’s economy?
Date posted:
April 21, 2018
.
Answers (1)
-
Discuss Kenya’s economic system
(Solved)
Discuss Kenya’s economic system.
Date posted:
April 21, 2018
.
Answers (1)
-
Explain briefly the various stages of economic development according to W.W. Rostov
(Solved)
Explain briefly the various stages of economic development according to W.W. Rostov.
Date posted:
April 21, 2018
.
Answers (1)
-
Discuss the problems associated with using per capita income to compare standard of living over time
(Solved)
Discuss the problems associated with using per capita income to compare standard of living over time
Date posted:
April 21, 2018
.
Answers (1)
-
Describe the development of money from barter trade system to the digital trade system
(Solved)
Describe the development of money from barter trade system to the digital trade system.
Date posted:
April 21, 2018
.
Answers (1)
-
In respect to demand for money, discuss the following motives of holding money: a. Transaction motive b.Asset motive c. Speculative motive d.Portfolio motive
(Solved)
In respect to demand for money, discuss the following motives of holding money:
a. Transaction motive
b.Asset motive
c. Speculative motive
d.Portfolio motive
Date posted:
April 21, 2018
.
Answers (1)
-
State and explain ten reasons that causes most developing countries to find themselves excessively borrowing resulting to a public debt crisis?
(Solved)
State and explain ten reasons that causes most developing countries to find themselves excessively borrowing resulting to a public debt crisis?
Date posted:
April 17, 2018
.
Answers (1)
-
Critically explain Malthusian theory of population
(Solved)
Critically explain Malthusian theory of population.
Date posted:
April 16, 2018
.
Answers (1)
-
Differentiate between positive and normative economics
(Solved)
Differentiate between positive and normative economics
Date posted:
April 6, 2018
.
Answers (1)
-
What is the difference between impact and incidence?
(Solved)
What is the difference between impact and incidence?
Date posted:
April 5, 2018
.
Answers (1)