Assume you have some hogs on feed and would like to have them gain another 130 pounds before they are sold. You would like to feed a combination of corn and soybean oil meal. The following table shows various combinations of corn and soybean oil meal that will produce 130 pounds of gain. Assume corn costs $0.05 per pound and soybean oil meal costs $0.35 per pound. At these prices, which ration below is the least cost combination of these two feeds? Ration Number a. Ration 5 b. Ration 3 Oc. Ration 6 Od. Ration 7 1 2 3 4 5 6 7 8 9 10 Corn (lbs) 440 400 365 335 310 290 275 265 260 260 Soybean Oil Meal (lbs) 40 45 50 55 60 65 70 75 80 85

Assume you have some hogs on feed and would like to have them gain another 130 pounds before they are sold. You would like to feed a combination of corn and soybean oil meal. The following table shows various combinations of corn and soybean oil meal that will produce 130 pounds of gain. Assume corn costs $0.05 per pound and soybean oil meal costs $0.35 per pound. At these prices, which ration below is the least cost combination of these two feeds? Ration Number a. Ration 5 b. Ration 3 Oc. Ration 6 Od. Ration 7 1 2 3 4 5 6 7 8 9 10 Corn (lbs) 440 400 365 335 310 290 275 265 260 260 Soybean Oil Meal (lbs) 40 45 50 55 60 65 70 75 80 85

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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