Requirements are met while minimizing total feed costs

Assignment Help Business Economics
Reference no: EM131096482

The Beef-Up Ranch feeds cattle for Midwestern farmers and delivers them to process- ing plants in Topeka, Kansas, and Tulsa, Oklahoma. The ranch must determine the amounts of cattle feed to buy so that various nutritional requirements are met while minimizing total feed costs. The mixture fed to the cows must contain different levels of four key nutrients and can be made by blending three different feeds. The amount of each nutrient (in ounces) found in each pound of feed is summarized as follows: Nutrient (in ounces) per Pound of Feed Nutrient Feed 1-Feed 2-Feed 3 A 3-2-4 B 3-1-3 C 1-0-2 D 6-8-4 The cost per pound of feeds 1, 2, and 3 are $2.00, $2.50, and $3.00, respectively. The minimum requirement per cow each month is 4 pounds of nutrient A, 5 pounds of nutrient B, 1 pound of nutrient C, and 8 pounds of nutrient D. However, cows should not be fed more than twice the minimum requirement for any nutrient each month. (Note that there are 16 ounces in a pound.) Additionally, the ranch can only obtain 1,500 pounds of each type of feed each month. Because there are usually 100 cows at the Beef-Up Ranch at any given time, this means that no more than 15 pounds of each type of feed can be used per cow each month. Formulate a linear programming problem to determine how much of each type of feed a cow should be fed each month. Create a spreadsheet model for this problem, and solve it using Solver What is the optimal solution?

Please be specific and show work.

Reference no: EM131096482

Questions Cloud

The difficulties associated with constructing a grammar : What are the difficulties associated with constructing a grammar whose generated strings are decimal representations of irrational numbers?
Two distinct parses for some string in the grammar : An ambiguous grammar can produce two distinct parses for some string in the grammar's language. Explain why an ambiguous grammar is never LL(k) for any k, even if the grammar is free of common prefixes and left-recursion.
Revolutionary product and deeply devoted customers : People might think that a company with a truly revolutionary product and deeply devoted customers wouldn't have to fret about mere survival, but TiVo does. Why?
Characteristics of a monopolistically competitvely market : Identify the characteristics of a monopolistically competitvely market and an ologopolistic market. Discuss how these characteristics change the perfectly competitive graphs. Does the process for deciding on the optimal price and quantity change?
Requirements are met while minimizing total feed costs : The Beef-Up Ranch feeds cattle for Midwestern farmers and delivers them to process- ing plants in Topeka, Kansas, and Tulsa, Oklahoma. The ranch must determine the amounts of cattle feed to buy so that various nutritional requirements are met while m..
Characteristics of services are intangibility : In this chapter, we learned that the characteristics of services are intangibility, perishability, variability, and inseparability. Explain each of these characteristics in your own words and how they create challenges for marketing services.
Producing the value of the nation output are equivalent : All incomes received in producing the value of the nation's output are equivalent to the total spending made on the final goods and services.
Policy changes have on measured wage inequality : What effect do you believe the following proposed policy changes have on measured wage inequality?
About the growing wage inequality : Politicians are concerned about the growing wage inequality in the United States caused by a substantial increase in the returns to college education. A senator is proposing a law that would give firms a subsidy to buy additional capital. How might t..

Reviews

Write a Review

Business Economics Questions & Answers

  Standard monopoly profits maximizing model

Some firms with monopoly power are more focused on market share, size and influence in the economy. This is particularly true if there is a tendency for ownership (stockholders) and control (managers) to be separated.

  Zero optimal capital taxation

The Chamley-Judd result of zero optimal capital taxation says that 0 capital taxation are required in order to maximize welfare at the steady state. The result is 30 years old. Still assuming that we only care about the steady state, what's the liter..

  Illustrate what is the smallest value of x

Illustrate what is the smallest value of x that would be sucient to make Buck want to invest in the pinball palace rather than have a wealth of $24,000 with certainty.

  Assume that the government plans to introduce tax cut

Assume that the government plans to introduce a tax cut next year. There are two groups of economists advising the administration on this issue. One group advocates business and investment tax cuts for firms and high income individuals. Take a positi..

  Small-demonic country time deposits

Large-demonic country time deposits $ 304 billion Currency also coin held by nonbanking public 438 billion Checkable deposits 509 billion Small-demonic country time deposits

  Disadvantages of reverting back to this traditional diet

Imagine you were to commit yourself to eating only food that was raised within 150 miles from your home (which is how everyone ate for most of human history, and is how most people in the world still eat). What would your diet be like in July? In Jan..

  Evaluates consumption streams

Consider a two-period economy with a single commodity (say leisure): x_1 is the consumption of leisure in period 1, and x_2 is the consumption of leisure in period 2. When Peter evaluates consumption streams, he cares only about the best time in his ..

  Graph for a profit-maximizing monopolist

Refer to the above graph for a profit-maximizing monopolist. At equilibrium, the firm will be earning:

  Determine one possible combination of government spending

Determine one possible combination of government spending increases and tax increases that would accomplish the same goal.

  Unemployment and inflation work in opposite directions

Why is it that unemployment and inflation work in opposite directions--when one is high the other is low and vice versa? This concept is depicted by the Phillips Curve. Why are unemployment and inflation sometimes referred to as twin problems?

  Identify the nash-cournot solution

Suppose the demand function is Q = 200 - 2p. Firm A, the leader, acts before Firm B, the follower. Both firms have a constant marginal cost of 10. Draw a diagram with Firm A’s output on the horizontal axis. Show the best-response function of Firm B. ..

  What influence the own price elasticity of demand

Explain why Consumer Preferences may influence the own price elasticity of demand for a commodity.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd