Yolo and Solano are two countries that both produce shrimp and tomatoes. In Yolo each worker in a one-hour period can produce either 28.95 pounds of shrimp or 12.96 pounds of vegetables. In Solano each worker in a one-hour period can produce either 27.72 pounds of shrimp or 4.93 pounds of tomatoes. Suppose both countries have constant opportunity cost of...
Red Sauce Canning Company processes tomatoes into catsup, tomato juice, and canned tomatoes. During the summer of 2018, the joint costs of processing the tomatoes were $420,000. There was no beginning inventory for the summer. Production and sales information for the summer is as follows: Production(# Product of cases) Sales (# of cases) Sales Value at Splitoff Point Separable Costs...
Question 20 Answer the following question using the output below. What are the binding constraints? Variable Cells Final Reduced Objective Allowable Allowable Name Value Cost Coefficient Increase Decrease Hot Salsa 5600 0.25 0.107 Mild Salsa 1.25 1.15 3.25 240 Constraints Final Shadow Name Value Price Whole Tomatoes 4180 0.125 Tomato Sauce 19200 Tomato Paste 1600 0.188 Constraint Allowable Allowable R.H....
1. Assume that the (weekly) market demand and supply of tomatoes are given by the following figures: Price (E per kilo) 4.00 3.50 3.00 2.50 2.00 1.50 1.00 Qc000 kilos) 30 35 40 45 50 55 60 0.0000 kilos) 8068 6255 50 45 38 (a) What are the equilibrium price and quantity? (b) What will be the effect of the...
Ketchup is a complement (as well as a condiment) for hot dogs. If the price of hot dogs rises, the quantity of hot dogs demanded which the demand for ketchup. Because of the change in the equilibrium quantity of ketchup, the demand for tomatoes by causing the equilibrium price of tomatoes to This means producers of tomato juice face in...
Fresh St. Market grows tomatoes in two separate fields, in Richmond and downtown Vancouver. When tomatoes are ready to be picked, they get curious and want to know whether the sizes of the tomatoes differ between the two fields. They take a random sample of plants from each field and measure the heights of the plants. Here is a summary...
Standard Product Cost, Direct Materials Variance H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (2,600 pounds) has the following standards: Standard Quantity Standard Price Whole tomatoes 4,300 lbs. $ 0.51 per lb. 240 gal. 3.1 per gal. Corn syrup 21 gal. 11.3 per gal. Salt 96 lbs. 2.8 per lb. Vinegar The...
A research service estimates that the mean annual consumption of fresh-market tomatoes by a person in the United States is less than 25 pounds. A random sample of 65 people in the United States has a mean annual consumption of fresh-market tomatoes of 22 pounds and a population standard deviation of 6 pounds. At α = 0.05, is there enough...
I. Farm Grown, Inc., produces cases of perishable food products. Each case contains an assortment of vegetables and other farm products. Each case costs $5 and sells for $15. If there are any cases not sold by the end of the day, they are sold to a large food processing company for $3 a case. The probability that daily demand...
The following graph shows two known points (X and Y) on a demand curve for tomatoes. PRICE (Dollars per pound) Demand .. QUANTITY (Thousands of pounds of tomatoes) L which suggests According to the midpoint method, the price elasticity of demand for tomatoes between point x and point Y is approximately that the demand for tomatoes is between points X...