The Kalo Fertilizer Company makes a fertilizer using two chemicals that provide nitrogen, phos-phate, and potassium. A pound of ingredient 1 contributes 10 ounces of nitrogen and 6 ouncesof phosphate, while a pound of ingredient 2 contributes 2 ounces of nitrogen, 6 ounces of phos-phate, and 1 ounce of potassium. Ingredient 1 costs $3 per pound, and ingredient 2 costs $5 perpound. The company wants to know how many pounds of each chemical ingredient to put into abag of fertilizer to meet the minimum requirements of 20 ounces of nitrogen, 36 ounces of phos-phate, and 2 ounces of potassium while minimizing cost.a. Formulate a linear programming model for this problem.b. Solve this model by using graphical analysis.

Objective Function 3X1 = cost of ingredient 1 5X2 = cost of ingredient 2 Min Z = 3X1+X2 Subject to…

Answered: The Kalo Fertilizer Company makes a…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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You need to get gasoline for your car. You can drive ten miles (round trip) to a gas station on the outskirts of town and save 15 cents per gallon on the price of gasoline. If gasoline costs $3.55 per gallon and your car gets 37 miles per gallon for in-town driving, how many gallons of gasoline must you buy at the edge-of-town station to save enough on your fill up to pay for the cost to going to the station and back? Ignore the wear- and-tear cost of operating your car in this example. (Enter your answer as a number without the units of gallons.)
8. how much would have been needed
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Dataware is trying to determine whether to give a $10 rebate, cut the price $6, or have no price change on a software product. Currently, 40,000 units of the product are sold each week for $45 apiece. The variable cost ofthe product is $5. The most likely case appears to bethat a $10 rebate will increase sales 30%, and half of all people will claim the rebate. For the price cut, the most likely case is that sales will increase 20%.a. Given all other assumptions, what increase in sales from the rebate would make the rebate and price cut equally desirable?b. Dataware does not really know the increase in sales that will result from a rebate or price cut. However, the company is sure that the rebate will increase sales by between 15% and 40% and that the pricecut will increase sales by between 10% and 30%.Perform a sensitivity analysis that could be used to help determine Dataware’s best decision.
A manufacturer produces bolts of a fabric with a fixed width. The quantityqof this fabric(measured in yards) that is sold is a function of the selling pricep(in dollars per yard), sowe can writeq=f(p). Then the total revenue earned with selling pricepisR(p)=pf(p).
Why Real Saffron Is So Expensive Even in the expensive world of spices, saffron stands out. And real saffron can cost you over $10,000 per kilogram. Saffron is the red stigma of the Crocus sativus. Each crocus has three small stigmas that have to be picked carefully by hand. No machine can do the delicate work required to harvest these thin threads. And it can take 40 hours of hard manual labor to produce just 1 kilogram of high-quality saffron. Rising labour cost supports the price of saffron. Expansion of healthcare sector is anticipated to remain a driving force for the saffron market in the coming decade. Saffron has crocin and safranal that are known to cure various types of diseases. It is used in several herbal and pharmaceutical drugs owing to rising awareness among consumers regarding health benefits of saffron. b. From the above article, identify the factor that affects the supply of saffron. Clearly state how this affects supply of saffron.
Why Real Saffron Is So Expensive Even in the expensive world of spices, saffron stands out. And real saffron can cost you over $10,000 per kilogram. Saffron is the red stigma of the Crocus sativus. Each crocus has three small stigmas that have to be picked carefully by hand. No machine can do the delicate work required to harvest these thin threads. And it can take 40 hours of hard manual labor to produce just 1 kilogram of high-quality saffron. Rising labour cost supports the price of saffron. Expansion of healthcare sector is anticipated to remain a driving force for the saffron market in the coming decade. Saffron has crocin and safranal that are known to cure various types of diseases. It is used in several herbal and pharmaceutical drugs owing to rising awareness among consumers regarding health benefits of saffron. a. From the above article, identify the factor that affects the demand for saffron. Clearly state how this affects demand for saffron. b. From the above…
Bill is a professional photographer. His camera is broken, and he needs a new one within the next hour, orhe will miss an important deadline. Lisa is a highschool student who doesn’t have a camera but wantsto get one to take pictures at her prom next month.Who do you think would have a higher willingnessto pay for a particular camera today? Why?
Please help me with this carefully. Thank you.
1. need help with this
You go on vacation in London and find a replica of the fuzzy hats that Buckingham Palace guards and decide it would make the perfect souvenir. The vendor who is selling the hat is asking £70 for it. If $1 buys £1.10, how much is the hat costing you? $636 $70 $77 $63.63
1. Jack is considering selling his elliptical machine, which he never really used, is high quality, and has been taking up space in his spare bedroom. He lists it on Facebook Marketplace for "$1,200 or best offer" but in reality won't sell it for less than $1,000. Lina is looking to purchase a used elliptical machine. For a high-quality elliptical, she is willing to pay up to $1,300, and for a low-quality elliptical, she is willing to pay $600. Lina is risk neutral but she cannot tell if the elliptical machine is high quality or low quality. If she believes that 60% of used elliptical machines are high quality and 40% are low quality, what is the maximum price that Lina would be willing to pay? Would Jack agree to this price?

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