The Minnow Bucket Bait Shop in Land O' lakes, WI raises trout, their current inventory is...
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The Minnow Bucket Bait Shop in Land O' lakes, WI raises trout, their current inventory is 15,000 fish (trout). They want to buy a mix of feed for their trout that both provides the nutrients needed and comes at the lowest cost. In order to do this, they are going to buy and mix two brands of feed. Each pound of Brand-1 feed contains 5.68 ounces of ingredient "A", 4.75 ounces of ingredient "B" and 1.09 ounces of ingredient "C". Each pound of Brand-2 contains 7.81 ounces of ingredient "A", 3.89 ounces of ingredient "B" and no (zero) ounces of ingredient "C". Brand-1 costs $1.03 per pound and Brand-2 costs $1.38 per pound. Each trout needs 66.3 ounces of ingredient "A", 46.1 ounces of ingredient "B" and 7.9 ounces of ingredient "C" per month. How many total pounds of each brand should they buy per month to keep their cost as low as possible and still meet the dietary requirements of the 15,000 trout? What will the total cost per month be? The Minnow Bucket Bait Shop in Land O' lakes, WI raises trout, their current inventory is 15,000 fish (trout). They want to buy a mix of feed for their trout that both provides the nutrients needed and comes at the lowest cost. In order to do this, they are going to buy and mix two brands of feed. Each pound of Brand-1 feed contains 5.68 ounces of ingredient "A", 4.75 ounces of ingredient "B" and 1.09 ounces of ingredient "C". Each pound of Brand-2 contains 7.81 ounces of ingredient "A", 3.89 ounces of ingredient "B" and no (zero) ounces of ingredient "C". Brand-1 costs $1.03 per pound and Brand-2 costs $1.38 per pound. Each trout needs 66.3 ounces of ingredient "A", 46.1 ounces of ingredient "B" and 7.9 ounces of ingredient "C" per month. How many total pounds of each brand should they buy per month to keep their cost as low as possible and still meet the dietary requirements of the 15,000 trout? What will the total cost per month be?
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Minimizing Cost While Meeting Dietary Needs To minimize cost while meeting the dietary needs of the ... View the full answer
Related Book For
Managerial Economics
ISBN: 978-1118808948
8th edition
Authors: William F. Samuelson, Stephen G. Marks
Posted Date:
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