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A mining company owns two mines. These mines produce an ore that can be graded into two classes: regular grade and low...
solving a word problem using linear programming
a mining company owns two mines. these mines produce an ore that can be graded into two classes: regular grade and low grade. the company must produce at least 410 tons of regular grade and 530 tons of low grade ore per week. the first mine produces 6 tons of regular grade and 16 tons of low grade ore per hour. the second mine produces 20 tons of regular grade and 10 tons of low grade per hour. the operating...
Refer to the MOLP example: The following example illustrates the issues involved in an MOLP problem....
Refer to the MOLP example: The following example illustrates the issues involved in an MOLP problem. Although this example involves only three objectives, the concepts and techniques presented apply to problems involving any number of objectives. Lee Blackstone is the owner of the Blackstone Mining Company, which operates two different coal mines in Wythe and Giles counties in southwest Virginia. Due to increased commercial and residential development in the primary areas served by these mines, Lee is anticipating an increase...
Exercise 4. Cobb-Douglas and Increasing Returns to Scale (Mining) Exercise 4. Cobb-Douglas and increasing Returns to...
Exercise 4. Cobb-Douglas and Increasing Returns to Scale (Mining)
Exercise 4. Cobb-Douglas and increasing Returns to Scale (Mining) Consider mining output, y (measured in million tons of ore), as ultimately the function of two essential inputs, extraction, Xı, and exploration, X2. Both inputs are indispensable, as there would be nothing to excavate without a geologic survey to know where to dig, and conversely finding ore without then quarrying it also produces no mining output. Both inputs also present diminishing marginal...
Consider two neighboring island countries called Dolorium and Content. They each have 4 million labor hours available per week that they can use to produce jeans, corn, or a combination of both
Consider two neighboring island countries called Dolorium and
Content. They each have 4 million labor hours available per week
that they can use to produce jeans, corn, or a combination of both.
The following table shows the number of jeans or corn that can be
produced using 1 hour of labor.CountryJeansCorn(Pairs per hour of labor)(Bushels per hour of labor)Dolorium416Content510Initially, suppose Content uses 1 million hours of labor per
week to produce jeans and 3 million hours per week to produce...
Homework (Ch 03) 3. Galns from trade Consider two neighboring island countries called Euphoria and Contente....
Homework (Ch 03) 3. Galns from trade Consider two neighboring island countries called Euphoria and Contente. They each have 4 million labor hours available per week that they can use to produce corn, jeans, or a combination of both. The following table shows the amount of corn or jeans that can be produced using 1 hour of labor Corn Country Euphoria Contente Jeans (Pairs per hour of labor) 20 16 (Bushels per hour of labor) Initially, suppose Contente uses 1...
Storage Solutions produces plastic storage bins for household storage needs. The company makes two sizes of...
Storage Solutions produces plastic storage bins for household storage needs. The company makes two sizes of bins: Large (50 gallon) and Regular (35 gallon). Demand for the product used to be so high that the company could sell as many of each size as it could produce. The same machinery is used to produce both sizes. The machinery is available for only 3,000 hours per period. The company can produce 10 Large bins every hour compared to 15 Regular bins...
Storage Solutions produces plastic storage bins for household storage needs. The company makes two sizes of...
Storage Solutions produces plastic storage bins for household storage needs. The company makes two sizes of bins: Large (50 gallon) and Regular (35 gallon) Demand for the product used to be so high that the company could sell as many of each size as it could produce. The same machinery is used to produce both The machinery is available for only 3,000 hours per period. The company can produce 10 Large bins every hour compared to 15 Regular bins in...
Colt Company owns a machine that can produce two specialized products. Production time for Product TLX...
Colt Company owns a machine that can produce two specialized products. Production time for Product TLX is three units per hour and for Product MTV is four units per hour. The machine's capacity is 2.100 hours per year. Both products are sold to a single customer who has agreed to buy all of the company's output up to a maximum of 3,570 units of Product TLX and 4130 units of Product MTV. Selling prices and variable costs per unit to...
Case problem 5 : Duke Energy Coal Allocation*
Duke Energy manufactures and distributes electricity to customers in the United States and Latin America. Duke recently purchased Cinergy Corporation, which has generating facilities and energy customers in Indiana, Kentucky, and Ohio. For these customers Cin- ergy has been spending $725 to $750 million each year for the fuel needed to operate its coal-fired and gas-fired power plants; 92% to 95% of the fuel used is coal. In this region, Duke Energy uses 10 coal-burning generating plants: five located inland...
Case problem 5 : Duke Energy Coal Allocation
Duke Energy manufactures and distributes electricity to customers in the United States and Latin America. Duke recently purchased Cinergy Corporation, which has generating facilities and energy customers in Indiana, Kentucky, and Ohio. For these customers Cin- ergy has been spending $725 to $750 million each year for the fuel needed to operate its coal-fired and gas-fired power plants; 92% to 95% of the fuel used is coal. In this region, Duke Energy uses 10 coal-burning generating plants: five located inland...
Exercise 4. Cobb-Douglas and Increasing Returns to Scale (Mining)
Exercise 4. Cobb-Douglas and increasing Returns to Scale (Mining) Consider mining output, y (measured in million tons of ore), as ultimately the function of two essential inputs, extraction, Xı, and exploration, X2. Both inputs are indispensable, as there would be nothing to excavate without a geologic survey to know where to dig, and conversely finding ore without then quarrying it also produces no mining output. Both inputs also present diminishing marginal...
Homework (Ch 03) 3. Galns from trade Consider two neighboring island countries called Euphoria and Contente. They each have 4 million labor hours available per week that they can use to produce corn, jeans, or a combination of both. The following table shows the amount of corn or jeans that can be produced using 1 hour of labor Corn Country Euphoria Contente Jeans (Pairs per hour of labor) 20 16 (Bushels per hour of labor) Initially, suppose Contente uses 1...
Storage Solutions produces plastic storage bins for household storage needs. The company makes two sizes of bins: Large (50 gallon) and Regular (35 gallon). Demand for the product used to be so high that the company could sell as many of each size as it could produce. The same machinery is used to produce both sizes. The machinery is available for only 3,000 hours per period. The company can produce 10 Large bins every hour compared to 15 Regular bins...
Storage Solutions produces plastic storage bins for household storage needs. The company makes two sizes of bins: Large (50 gallon) and Regular (35 gallon) Demand for the product used to be so high that the company could sell as many of each size as it could produce. The same machinery is used to produce both The machinery is available for only 3,000 hours per period. The company can produce 10 Large bins every hour compared to 15 Regular bins in...
Colt Company owns a machine that can produce two specialized products. Production time for Product TLX is three units per hour and for Product MTV is four units per hour. The machine's capacity is 2.100 hours per year. Both products are sold to a single customer who has agreed to buy all of the company's output up to a maximum of 3,570 units of Product TLX and 4130 units of Product MTV. Selling prices and variable costs per unit to...
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