A food manufacturer is trying to maximize profit by selling wheat-based cereal (C) and wheat bread(B) with raw wheat (W). The production functions are: C= 30WC - 1.5WC2? B = 74WB-2WB2 Wc+Wg 8294 Cereal: Bread: Constraint: %3D Profit is $1.00 per box of cereal and $0.50 per pack of wheat bread. There are 8,294 units of raw wheat available. How much wheat should go to the cereal (Wc)? Enter as a value. ROUND TO THE NEAREST WHOLE NUMBER.
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- A food manufacturer is trying to maximize profit by selling wheat-based cereal (C) and wheat bread(B) with raw wheat (W). The production functions are: Cereal: C = 28WC - 1.5Wc Bread: B = 65WB - 2WB2 Constraint: WC + WB = 4144 Profit is $1.00 per box of cereal and $0.50 per pack of wheat bread. There are 4,144 units of raw wheat available. How much wheat should go to the cereal (WC)?A food manufacturer is trying to maximize profit by selling wheat-based cereal (C) and wheat bread(B) with raw wheat (W). The production functions are: Cereal: Bread: C=37Wc 1.5Wc² B = 76WB - 2WB² Wc+WB 8,155 Constraint: Profit is $1.00 per box of cereal and $0.50 per pack of wheat bread. There are 8,155 units of raw wheat available. How much wheat should go to the cereal (WC)? Enter as a value. ROUND TO THE NEAREST WHOLE NUMBER.A food manufacturer is trying to maximize profit by selling wheat-based cereal (C) and wheat bread(B) with raw wheat (W). The production functions are: Cereal: C = 28WC – 1.5WC2 Bread: B = 66WB – 2WB2 Constraint: WC + WB = 7,058 Profit is $1.00 per box of cereal and $0.50 per pack of wheat bread. There are 7,058 units of raw wheat available. How much wheat should go to the cereal (WC)? Enter as a value. ROUND TO THE NEAREST WHOLE NUMBER.
- Student Enterprises sells two sizes of wall posters, a large 3- by 4-foot poster and a smaller 2- by 3-foot poster. The profit earned from the sale of each large poster is $3; each smaller poster earns $2. The firm, although profitable, is not large; it consists of one art student, Jan Meising, at the University of Kentucky. Because of her classroom schedule, Jan has the following weekly constraints: (1) up to three large posters can be sold, (2) up to five smaller posters can be sold, and (3) up to 10 hours can be spent on posters during the week, with each large poster requiring 2 hours of work and each smaller one taking 1 hour. With the semester almost over, Jan plans on taking a 3-month summer vacation to England and doesn’t want to leave any unfinished posters behind. Find the integer solution that will maximize her profit.A local company is planning to manufacture and market a four-slice toaster. For this toaster, the research department’s estimates are aweekly demand of 300 toasters at a price of $25 per toaster and a weekly demand of 400 toasters at a price of $20. The financial department’s estimates are fixed weekly costs of$5,000 and variable costs of $5 per toaster. a) Assume that the relationship between price ? and demand ? is linear. Use the research department’s estimates to express ? as a function of ? and determine the domain of the function. b) Using your knowledge from Finite Math, determine the Revenue function in terms of ?. c) Determine the Marginal Revenue at 2 different production levels for example 250 and 500 units. Interpret these results. (HINT: Consider what a positive or negative first derivative implies) d) Assume that the cost function is linear. Use the financial department’s estimates to express the cost function interms of ?. e) Determinethe Marginal costand interpret the…A food manufacturer is trying to maximize profit by selling wheat-based cereal (C) and wheat bread(B) with raw wheat (W). The production functions are: Cereal: Bread: Constraint: C-26Wc-1.5Wc² B-71W-2W² Wc+WB=7690 Profit is $1.00 per box of cereal and $0.50 per pack of wheat bread. There are 7,690 units of raw wheat available. How much wheat should go to the cereal (We)? Enter as a value. ROUND TO THE NEAREST WHOLE NUMBER. Type your answer...
- 2. You are the Southeastern Michigan regional manager at Coca-Cola, responsible forproduction and pricing in the Metro Detroit area. Your primary competitor is Pepsi. The marketresearch team at Coca-Cola is thinking about launching a new product, Orange Vanilla Coke, toboost the brand. The cost function to produce a 12-pack of 12 fl. oz. cans of Orange VanillaCoke is C(qcoke) = 0.25qcoke and the market research team has estimated inverse market demandfor a 12-pack of this new “pop” in Southeastern Michigan to be P = 10.25 – 0.00025Q. a. Assuming Pepsi decides not to produce a similar product, allowing Coca-Cola to maintainmonopoly power in the market for orange vanilla cola, what price and quantity will youchoose to maximize profit? How much profit does Coca-Cola earn?b. What price and quantity you would choose to maximize profit if Pepsi spies discover yourproduct before launch, allowing Pepsi to produce and launch an identical product at the sametime. For your answer, assume the cost…Total output Total Cost 0 20 1 30 2 42 3 55 4 69 5 84 6 100 7 117 How much milk will Malik as an individual firm would supply in the market at the price of Rs. 14 per liter? How will the supply of milk be effected if the price rises to Rs. 16 per liter?. A major cattle feeding operation has entered into a firm commitment to buy 100,000bushels of corn to be delivered to its feed lot in Kansas. The corn is expected to be delivered in90 days. The company is committed to pay $1.50 per bushel. If corn yields are greater thanexpected, the price of corn could decline and the company would experience higher operatingcosts than necessary as a result of the commitment.In order to protect itself against falling corn prices, the company purchased an option to sellcorn in 90 days at a strike price of $1.51 per bushel delivered to a facility in Nebraska.1. Assume that at the time of acquiring the put option, the price of corn was more than $1.51.Explain why the option had a value of more than zero at inception.2. Assume that one of your colleagues made the following comment: ‘‘An option can neverhave a negative value; therefore, you can never lose money on an option.’’ Discuss whetheror not you agree with your colleague.3. Assuming that only the…
- Round off your final answer to whole #. A company produces and sells a consumer product and is able to control the demand by varying the selling price. The approximate relationship between price and demand is 2700 5,000 p=47+ -forD>1 D D² The company is seeking to maximize its profit. The fixed cost is $1,000 and the variable cost is $39 per unit. What is the number of units that should be produced and sold each month to maximize profit?K- Suppose the revenue from producing (and selling) x units of a product is given by R(x)=7x-.01x² dollars. (a) Find the marginal revenue at a production level of 35. (b) Find the production levels where the revenue is $600. (a) The marginal revenue at a production level of 35 is dollars per unit. (b) The production levels where the revenue is $600 are (Use a comma to separate answers as needed.)Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. PRICE (Dollars per unit) 250 225 200 175 150 125 100 75 50 25 0 0 5 10 Demand 15 20 25 30 35 40 45 50 QUANTITY (Units) Graph Input Tool Market for Goods Quantity Demanded (Units) Demand Price (Dollars per unit) 25 125.00 ?