= a - bp₁ + dp2 2 = a - bp₂ + dp₁, here a, b > 0 and |d| < b. d > 0 indicates the products are substitutes, d < 0 indicate complements. The costs of the firms is given by (qi) = c¡qi, i = 1, 2. Profits are given by: =(P₁; Pj) = (a − bp₁ + dp;)(p; — c₁), i = 1, 2. ou are asked to perform the following tasks: 1. Build in Python a demand function that has prices, and demand parameters (a, b, d) as inputs. The function should return the quantity demanded for a given firm. 2. Build in Python a cost function that returns the cost that a given firm would incur to produce a certain quantity of output (the inputs should be quantity and the cost paramter). 3. Build in Python a profit function that returns the profit of a given firm. The user of the function should be able to choose the cost parameter, the price of the firm, the price of the competitor, and the demand parameters. 4. Build in Python a best response function that returns the optimal price of a firm, given cost, the demand parameters, and the competitor's price.

= a - bp₁ + dp2 2 = a - bp₂ + dp₁, here a, b > 0 and |d| < b. d > 0 indicates the products are substitutes, d < 0 indicate complements. The costs of the firms is given by (qi) = c¡qi, i = 1, 2. Profits are given by: =(P₁; Pj) = (a − bp₁ + dp;)(p; — c₁), i = 1, 2. ou are asked to perform the following tasks: 1. Build in Python a demand function that has prices, and demand parameters (a, b, d) as inputs. The function should return the quantity demanded for a given firm. 2. Build in Python a cost function that returns the cost that a given firm would incur to produce a certain quantity of output (the inputs should be quantity and the cost paramter). 3. Build in Python a profit function that returns the profit of a given firm. The user of the function should be able to choose the cost parameter, the price of the firm, the price of the competitor, and the demand parameters. 4. Build in Python a best response function that returns the optimal price of a firm, given cost, the demand parameters, and the competitor's price.

Database System Concepts

7th Edition

ISBN:9780078022159

Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Chapter1: Introduction

Section: Chapter Questions

Problem 1PE

See similar textbooks

Similar questions

Create a Desicion Table for the following: A relatively small company that sells eyeglasses to the public wants to incentivize its sales staff to sell customers higher-quality frames, lenses, and options. To do this, the company has decided to pay the sales representatives based on a percentage of the profit earned on the glasses. All sales representatives will earn 15 percent of theprofit on the eyeglasses. However, the owners are concerned that the sales staff will fear earning less than they do now. Therefore, those who were already working at the company are grandfathered into an arrangement where the workers are guaranteed to earn at least their base salary. Newly hired employees, however, are guaranteed only minimum wage based on the hours worked. To ensure only productive employees are retained, employees who are underperforming for three months in a row are automatically terminated. For those employees who are grandfathered in, any month where the representative earns only the…
The WIX Company Civil Engineers consists of two divisions. The divisions are Water and Waste Water. The company sells engineering services to various customers. The following are the bill rates for the various staff classifications: Vice President $200/hour Senior Engineer $180/hour Staff Engineer $150/hour. The two divisions expect to bill the following hours: Water- 10000 hours, vice president at 10% of the time, 30% of Senior Engineer time and remaining to Staff Engineers. Waste Water- 6000 hours, vice president at 20% of the time, 20% of Senior Engineer time and remaining to Staff Engineers. The Direct Labor costs per hours are as follows: Vice President $80/hour Senior Engineer $60/hour Staff Engineer $40/hour. The utilization for each staff members are as follows: Vice President 60% Senior Engineer 80% Staff Engineer 90%. The company has the following other costs: Admin Salaries $90,000 Rent $100,000 Utilities $6,000 Benefits $76,000 Assume 20% of time for each staff member…
Given the goal, (X + 3) – ((Y * 5) / 2), and the following set of production rules, 1 2 3 4 5 6 7 8 9 10 Goal → ExprExpr → Expr + Term | Expr – Term | TermTerm → Term * Factor | Term / Factor | Factor Factor → number | id| ( Expr ) Draw a table for the leftmost derivation
I would like to model a sales process in R by using the binomial distribution. How can I do that? My initial values are: #Target Grouptarget_group <- 1000 #Leadslead_rate <- 0.1lead_cost <- 5 #Appointmentsappointment_rate_assistant <- 0.15appointment_cost <- 50 #Conversionsconversion_rate_representative <- 0.8conversion_cost <- 100# Traditional Marketing Metrics (Classical KPIs - Base)current_month_revenue <- 50000 # Current month revenuelast_year_month_revenue <- 45000 # Revenue for the same month last yeartarget_sales <- 800000 # Target sales per Month# Customer Base Metrics (Existing Customers)average_order_value_existing <- 10000 #Average order valueretention_rate <- 0.8 #Retention rate# New Customer Acquisition Metricsaverage_order_value_new <- 15000
How can I Draw An ERD to show the relationships among EMPLOYEE, STORE, REGION, and SUPPLIER. A REGION can contain many stores. A STORE is located in only one REGION. The relationship between STORE and REGION is M:1. (It is, of course, equally true that the relationship between REGION and STORE is 1:M.) . In summary, each store is located in a single region, but that each region can have many stores located in it. You will have to keep track of attributes Region name, states included in the region, and the regional director's information. A STORE employs EMPLOYEE, This is a 1:M relationship because one store can employ many employees and each employee is employed by one store. You will need to track, store address, store phone number, store manager, store number There is still another relationship, the additional relationship, expressed by EMPLOYEE manages STORE, is a 1:1 relationship, because each store is managed by one employee and an employee manages only one store.' You will…
Kelson Sporting Equipment, Inc., makes two different types of baseball gloves: a regularmodel and a catcher’s model. The firm has 900 hours of production time available in itscutting and sewing department, 300 hours available in its finishing department, and100 hours available in its packaging and shipping department. The production time requirements and the profit contribution per glove are given in the table (See image): Assuming that the company is interested in maximizing the total profit contribution, answer the following:a. What is the linear programming model for this problem?b. Find the optimal solution using excel. How many glovesof each model should Kelson manufacture?
Suppose that a new company has five employees: Zamora, Agraharam, Smith, Chou,and Macintyre. Each employee will assume one of six responsibilities, namely planning, publicity,sales, marketing, development, and industry relations. Each employee is capable of doing one ormore of these jobs. Zamora could do planning, sales, marketing, or industry relations. Agraharamcould do planning or development. Smith could do publicity, sales, or industry relations. Choucould do planning, sales, or industry relations. Macintyre could do planning, publicity, sales, orindustry relations.1. Model the capabilities of these employees using a bipartite graph.2. Find an assignment of responsibilities such that each employee is assigned a responsibility.
Following on your job in modelling the employee assignments from the previous practical, you’ve now obtained the following business rules: One Employee supervises Many Employees, and possibly none, and a max of 20. One Employee is supervised by One Employee, and not none. One Employee takes on Many Assignments, and possibly none. One Assignment is taken on by One Employee, and not none. One Assignment takes place in One Section, and not none. One Section appears in Many Assignments, and possibly none. One Section belongs to One Building, and not none. One Building has Many Sections, and possibly none, and a max of 20. You have also been given a small sample of their records, in case this may prove useful. It is below. Assignment No Date Employee No Employee Section Section N Building Start End Supervisor No Building N 8 22/08/2013 2111 B. Johns G1 Canteen G Willis 12h00 19h00 2321 2 9 23/08/2013 2111 B. Johns F3…
Suppose you run k- means using k=3 and k=5. You find that the cost function J is much higher for k=5 than for k=3. What can you conclude for the reason and suggest a solution? Use the editor to format your answer
Teddy Bower is an outdoor clothing and accessories chain that purchases a line of parkas at $10 each from its Asian supplier, TeddySports. Unfortunately, at the time of the order placement, demand is still uncertain: Teddy Bower forecasts that its demand is normally distributed with a mean of 2100 and a standard deviation of 1200. Teddy Bower sells these parkas at $22 each. Unsold parkas have little salvage value; Teddy Bower simply gives them away to a charity (and also doesn’t collect a tax benefit for the donation). Round your answer to 2 digits after the decimal point if it is not an integer. Do NOT use comma in your numeric answers. Use excel for accuarate numbers. Dont round until the end. The probability that this parka turns out to be a “dog” is [xa]%, which is defined as a product that sells less than half of the forecast (use the standard normal table below). The underage cost is $[xb]. The overage cost is $[xc]. The critical ratio is [xd]. Teddy Bower should buy [xe] parkas…
A company manufactures 3 products in 2 different factories. The cost of production and time required for production for each product varies depending on which factory produces it. The time and cost required for production of each product in each factory is provided in the tables in this worksheet. Demand for products 1, 2 and 3 are 200, 240 and 100 units, respectively. There are a total of 3,000 hours available in each factory. Additionally, at least 60% of the total units of Product 1 must be produced in Factory A, and at least 40% of of the total units of Product 2 must be produced in Factory B. Create a linear programming model and use the Solver add-in to determine the optimal production plan that will minimize total cost. Note: The cost is per unit not per hour. All demand must be met.
Borges Machine Shop, Inc., has a 1-year contract for the production of 75,000 gear housings for a new off-road vehicle. Owner Luis Borges hopes the contract will be extended and the volume increased next year. Borges has developed costs for three alternatives. They are general-purpose equipment (GPE), flexible manufacturing system (FMS), and expensive, but efficient, dedicated machine (DM). The cost data follow: Annual contracted units Annual fixed cost Per unit variable cost General-Purpose Equipment (GPE) 75,000 $100,000 $18.00 Flexible Manufacturing System (FMS) 75,000 $250,000 $14.50 Dedicated Machine (DM) 75,000 $500,000 $13.00