Question: Find the optimal solution to the given problem: A mining company has two mines. Mine A can produce 2 tons of low-grade ore, 3 tons

Find the optimal solution to the given problem: A mining company has two mines. Mine A can produce 2 tons of low-grade ore, 3 tons of medium-grade ore, and 1 ton of high-grade ore per hour. Mine B can produce 2 tons of low-grade ore, 1 ton of medium-grade ore, and 2 tons of high-grade ore per hour of operation. The company needs at least 100 tons of low-grade ore, 60 tons of medium-grade ore, and 80 tons of high-grade ore. If it costs $400 per hour to operate Mine A and $600 per hour to operate Mine B, how many hours should each mine be operated to supply the required amounts of ore and minimize the cost of production? What is the minimum production cost?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!