Consider a manufacturing firm that hasrevenues of $160 per day. The firm musttransport its output to a central freightterminal. Transportation costs to get output tothe central freight terminal are $20The firm employs labour that costs $60 perday if employed at the central freight terminallocation, but those daily labour costs fall at arate of $4 per mile from center. The firm hasother non-land costs of $30 per day to buyraw materials.The firm requires 2 hectares ofland for its operations.a) What is the firm's maximum willingness topay per hectare of land at the central freightterminal location? Show your work.b) What is the equation of the firm's bid rentfor land per hectare as a function of x, wherex is distance in miles from the central freightterminal? Show your work.permile.

a) To find the firm's maximum willingness to pay per hectare of land at the central freight terminal…

Answered: Consider a manufacturing firm that has…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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c) The fixed costs of a business for production of a particular item over a period are $1000 while the production cost per unit is $90. If the business is able to produce and sell 200 items over the period, what should the sales price of the item be in order for the business to break even?
A certain company is producing and selling its product X. The variable cost of the product X is 60% of its selling price, and the fixed cost of the company is $50,000 per month. When the company’s target profit for the forthcoming month is $20,000, how much sales volume (in dollars) is required to meet it?
need comprehensive and correct answers.This question is about optimization.
A factory ships weekly shipments of an item to a distribution center and the average quantity shipped is 350 units. The weekly ordering rate for this distribution center is 50 units for an item. Unit price is $ 650. The period of supply from the factory to the distribution center is two weeks (2 weeks). The distribution center must pay for the stock from the moment the manufacturer ships the goods. If the distribution center wants to increase the purchase quantity to 400 units, the factory will give priority to the distribution center and guarantee it Supply period (one week only). Required: What is the effect on the average cycle inventory and the pipeline inventory of the distribution center? With the necessity to comment on the results.
The monthly demand for Williams Tchotchkes (q measured in 1000s of tchotchkes) depends on the price that they set for their tchotchkes (p measured in dollars), the average price of substitutes for their tchotchkes (p, also measured in dollars), and the average monthly disposable income in the market for tchotchkes (y measured in $1000s). The current prices are p = $10 and p₁ = $11, the current monthly demand for Williams Tchotchkes is 8000 tchotchkes and the current average monthly disposable income in the tchotchkes market is $3500. Furthermore, it is known that Əq Op p=10 Pg=11 y=3.5 = -0.31, Əq aps P=10 Pg=11 y=3.5 = 0.44 and Əq dy p=10 Pg=11 y=3.5 = 0.72. Scenario 1: Suppose that p increases by $0.20, p, increases by $0.35 (from their current values), and income doesn't change. In this scenario, monthly demand for Williams Tchotchkes' monthly will [Select] , and Williams Tchotchkes' monthly revenue will [Select] Scenario 2: Now (instead) suppose that average monthly income in the…
A furniture manufacturer is producing tables that they are selling for $225. Their monthly fixed costs are 12000. For each table they produce, they need $70 in material and $55 in labor.a) express the total costs as a function of the number of tables manufactured.b) How many tables do they need to manufacture to make a profit of $2,000? c) How many tables do they need to manufacture in order for them to breakeven? Answer text
Heinrich is a manufacturing engineer with the Miller Company. He has determined the costs of producing a new product to be as follows: Equipment cost: $288,000/year Equipment salvage value at EOY5 = $41,000 Variable cost per unit of production: $14.55 Overhead cost per year: $48,300 If the Miller Company uses a 5-year planning hori- zon and the product can be sold for a unit price of $39.75, how many units must be produced and sold each year to break even? Contributed by Paul R. McCright, University of South Florida
A florist provides fresh flowers to shops in Wollongong. At present she has one nursery in Goulburn with capacity 9000 units a year. The florist is considering opening shops in Canberra and Sydney, and has found three potential nursery sites at Wagga, Orange and Bathurst. The transportation tableau below summarises the projected nursery capacities (units), the cost per unit of shipping from each nursery to each destination (dollars), and the demand (units) for the coming year. j=1 j=2 j=3 Sydney Capacities Wollongong Canberral 5 i=1 Goulburn 12 9000 i=2 Wagga 7 10 4000 i=3 Orange 4 7000 i=4 Bathurst 11000 Demand 11000 5000 8000 There are further constraints on how the nurseries can be located: • If a nursery is located in Wagga, another must be located in Bathurst and vice- versa. • One nursery can be located in Orange or Bathurst, but not both. Suppose that the costs of establishing new nurseries are Wagga $180,000 Orange $160,000 Bathurst $270,000 The goal is to develop a 0-1…
kindly answer items (d) and (e)
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Hoosier Power needs to determine a capacity expansion plan to meet Bloomington’s power needs for thenext 20 years. The current capacity is 5000 kwh. The demand for the current year is 4000 kwh, and demand is expected to increase by 1000 kwh in each succeeding year. At the beginning of each year, Hoosier Power must determine the amount of capacity to add, given the following inputs: ■ Any year in which capacity is added, a fixed cost of $120,000 is incurred plus a cost of $120 per kwh of capacity. ■ At most 10,000 kwh of capacity can be added in a single year. ■ It costs $25 per year to maintain a unit of capacity. ■ It costs $12 per year to produce a kwh. ■ If production does not meet demand, a shortage cost of $80 per kwh short is incurred. Develop a linear integer model to help Hoosier Power minimize its costs for the next 20 years.
Isabel has up to P450 000 to invest in two types of investments. Type A investment pays 6% annually and type B investment pays 100% anuale half of the well-balanced porfolio, Isabel imposes the following conditions At least one-half of the total investment is to be allocated to type A and at least one-fourth of the investment to type B investment How much should be allocated to each type of investment to obtain maximum profit?

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