2. (20 points) A stocker plans to purchase calves (X) at $600 a head to feed and sell later to thefeedlot. Feed will cost 2X? and other costs will be 40X. They can be sold to the feedlot at$800 a head. What is the optimal amount of calves that will maximize profit? Check youranswer.

Profit is the difference between total revenue and total cost. It means the cost is minimized and…

2. (20 points) A stocker plans to purchase feedlot. Feed will cost 2X2 and other costs will be 40X. They can be sold to the feedlot at $800 a head. What is the optimal amount of calves that will maximize profit? Check your

2. (20 points) A stocker plans to purchase feedlot. Feed will cost 2X2 and other costs will be 40X. They can be sold to the feedlot at $800 a head. What is the optimal amount of calves that will maximize profit? Check your

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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2. (20 points) A stocker plans to purchase calves (X) at $600 a head to feed and sell later to the
feedlot. Feed will cost 2X? and other costs will be 40X. They can be sold to the feedlot at
$800 a head. What is the optimal amount of calves that will maximize profit? Check your
answer.

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