Wheat, corn and rice are to be planted on 10800 acres of farmland. Each acre can produce 35 bushels of wheat, 100 bushels of corn, or 80 bushels of rice. Acreage planted in corn must be at least half the acreage planted in wheat, and at most 26% of the total acreage planted. At most 1980 acres can be planted in rice. If you wish to maximize the total amount of grain produced, how should the land be planted? To achieve a maximum yield of| acres with wheat, acres with rice. 1980 bushels of grain, plant acres with corn, and
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- If a monopolist produces q units, she can charge 400 4q dollars per unit. The variable cost is 60 per unit. a. How can the monopolist maximize her profit? b. If the monopolist must pay a sales tax of 5% of the selling price per unit, will she increase or decrease production (relative to the situation with no sales tax)? c. Continuing part b, use SolverTable to see how a change in the sales tax affects the optimal solution. Let the sales tax vary from 0% to 8% in increments of 0.5%.Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand will grow at 5% a year. If the company builds a plant that can produce x units of Wozac per year, it will cost 16x. Each unit of Wozac is sold for 3. Each unit of Wozac produced incurs a variable production cost of 0.20. It costs 0.40 per year to operate a unit of capacity. Determine how large a Wozac plant the company should build to maximize its expected profit over the next 10 years.Suppose you begin year 1 with 5000. At the beginning of each year, you put half of your money under a mattress and invest the other half in Whitewater stock. During each year, there is a 40% chance that the Whitewater stock will double, and there is a 60% chance that you will lose half of your investment. To illustrate, if the stock doubles during the first year, you will have 3750 under the mattress and 3750 invested in Whitewater during year 2. You want to estimate your annual return over a 30-year period. If you end with F dollars, your annual return is (F/5000)1/30 1. For example, if you end with 100,000, your annual return is 201/30 1 = 0.105, or 10.5%. Run 1000 replications of an appropriate simulation. Based on the results, you can be 95% certain that your annual return will be between which two values?
- each company sinks wells of the same size at the same time. If both companies sink wide wells, each will extract 2 million barrels in 6 months, but each company will receive profit of only GHC 1 million. On the other if each company sinks a narrow well, it will take a year for Clampett and TEXplor to extract their respective shares, but their profits will be GHC14 million apiece. Finally, if one company drills a wide well while the other company drills a narrow well, the first company will extract 3 million barrels and the second company will extract only 1 million barrels. In this case, the first company will earn profits of GHC 16 million and the second company will actually lose GHC 1million.1. Illustrate this using a normal form game. 2. Does either firm have a strictly dominant strategy? If yes, what is (are) these strategies? Explain your answer. 3. What strategy will each firm adopt? Explain your answer. 4. Does this game have a Nash equilibrium? Explain your answer5. Is…A mixture of pellets is to be made containing x regular pellets, y large pellets and z extra large pellets. Cost, weight and volume data for each type of pellet are shown in the table. Is it possible to make mixture of 55 pellets at a cost of $0.85 if the mixture is to have 120 weight units and 130 volume units? If so, how many each type of pellet should be in the mixture? Pellet Type 5. Number of Cost per Pellet in Cents Weight Units per Pellet Volume Pellets Units per Pellet Regular Large Extra large 2 1 4 y 1 4 3A company has one machine which can be used to make product Alpha and product Beta. Each unit of product Alpha requires 45 minutes of machine time, while each unit of product Beta requires 37 minutes of machine time. The machine can be used for 8 hours per day and 5 days per week. Next week the company will produce 23 units of product Alpha. After completing the production of Alpha, the company will produce product Beta. How many units of product Beta can be produced next week? Use at least 4 decimals.You must showm your calculation steps and brief explanation on your Excel spreadsheets.
- FRUIT COMPUTER COMPANY Fruit Computer Company manufactures memory chips in batches of ten chips. From past experience, Fruit knows that 80% of all batches contain 10% (1 out of 10) defective chips, and 20% of all batches contain 50% (5 out of 10) defective chips. If a good (that is, 10% defective) batch of chips is sent to the next stage of production, processing costs of $4000 are incurred, and if a bad batch (50% defective) is sent on to the next stage of production, processing costs of $16000 are incurred. Fruit also has the alternative of reworking a batch at a cost of $4000. A reworked batch is sure to be a good batch. Alternatively, for a cost of $400, Fruit can test one chip from each batch in an attempt to determine whether the batch is defective. QUESTIONS 1.Determine a strategy so Fruit can minimize the expected total cost per batch. 2.Compute the EVSI and EVPI.You are planning a vacation to Patagonia. You have a choice of 4 hotels at which to stay, and a choice of 3 different car rental companies to use. Patagonia offers 5 different day trips you can take. A vacation to Patagonia consists in selecting one hotel, one car rental company and 2 different day trips (the order doesn't matter). How many ways are there to plan your vacation? (A) 24 (B) 60 (С) 40 (D) 4 (E) 240 (F) 30 (G) 495 (Н) 120 OA OB В OD F OG OHPlease answer all parts A Rhino cement company owns two production plants. Plant 1 costs 20977 per day to operate, and it can produce 330 bags of high-grade cement, 475 bags of medium-grade cement , and 508 bags of low-grade cement each day. Plant 2 is newer and more modern. It costs 22570 per day to operate, and it can produce 435 bags of high-grade cement,271 bags of medium-grade cement, and 274 bags of low-grade cement each day. The company has orders totaling 24539 bags of high-grade cement, 25248 bags of medium-grade cement, and 33749 bags of low-grade cement. How many days should it run each plant to minimize its costs and still produce enough cement to meet its orders? What is the value of the first dual variable? What is the value of the second dual variable? What is the value of the third dual variable? What is the value of dual optimal solution z?