"The government is auctioning off oil leases at two sites: 1 and 2. At each site, 100,000 acres of land are to be auctioned. Cliff Ewing, Blake Barnes, and Alexis Pickens are bidding for the oil. Government rules state, that no bidder can receive more than 40% of the land being auctioned. Cliff has bid $1000 per acre for site 1 land and $2000 per acre for site 2 land. Blake has bid $900 per acre for site 1 land and $2200 per acre for site 2 land. Alexis has bid $1100 per acre for site 1 land and $1900 per acre for site 2 land.

a. Determine how to maximize the government’s revenue with a transportation model.
b. Use SolverTable to see how changes in the government’s rule on 40% of all land being auctioned affect the optimal revenue. Why can the optimal revenue not decrease if this percentage required increases? Why can the optimal revenue not increase if this percentage required decreases?"

Posted Date: 11/3/2014 11:57:01 AM | Location :

Ask an Expert

Related Discussions:- gov problem, Assignment Help, Ask Question on gov problem, Get Answer, Expert's Help, gov problem Discussions

Write discussion on gov problem
Your posts are moderated

Write your message here..

Related Questions

Define Twisted Pair Cables , Twisted pair cables comes in two appearance :... Twisted pair cables comes in two appearance : Unshielded twisted pair cable : UTP : UTP cables is the most common types of telecommunication medium used today. Its frequency range

Create a queue, QUESTION (a) Give the representation of a queue as an a... QUESTION (a) Give the representation of a queue as an abstract data type. (b) What is a priority queue? Give two types of priority queues. (c) The following program does

Unix Shell, Write a shell script, change-lines, which will substitute a str... Write a shell script, change-lines, which will substitute a string for a replacement string for each occurance of the string in files specified. The original file will be saved,

Artificial intelligence research, Artificial Intelligence research: Art... Artificial Intelligence research: Artificial Intelligence research may be describe  in terms of how the following question has been answered: "How are we going to get a comp

Example of flowcharting, Example of flowcharting: Example Problem s... Example of flowcharting: Example Problem statement: To find out whether a given number is even or odd. Algorithm: Step 1 Start Step 2 INPUT the number n  Step 3

Microprocessor, how does microprocessor interpret with the burglar alarmn how does microprocessor interpret with the burglar alarmn

Internet, how to get tamil information in internet how to get tamil information in internet

Communications programs , Communications Programs : By communications prog... Communications Programs : By communications programs, we mean those programs which allow a computer to communicate via a transmission cable to another electronic device. Here we d

Explain the basic structure of a c program, Question 1 Explain the basic... Question 1 Explain the basic structure of a C program with an example 2 What would be the value of x after execution of the following statements? 3.What are the commonly u

Aaa arithmetic instruction of micro processor, examples examples