How must the following cost and requirements table for a transportation problem be alteredso that linear programming methods can be used to find an optimum solution? .destinationsourceABDsupply1C 1AC 1B42C 2AC 2B6236273demandOA. A dummy source must be added to supply six units.B. A dummy destination must be added to increase the demand by six units.C.The sum of the costs in each row must be made equal by inclusion of a dummycost.D.The sum of the costs in each column must be made equal by inclusion of a dummycost.

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Answered: How must the following cost and…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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5. Rusty Trawler imports oil from Saudi Arabia. His cost function (for purchasing and delivering the oil) is TC = 5000+.1Q² where Q is the number of barrels of oil delivered. He may sell all the oil he can deliver for $60 per barrel (so TR = 60Q). Given these conditions, what are Rusty's maximum possible profits? a) $0 b) $300 c) $2,500 d) $4,000
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Question 1 Sal's Streaming Company streams TV shows to subscribers in the US and Canada. Demand is Qus 50 (1/3)Pus - QCA 80 (2/3)P CA = - where Q's are in thousands of subscriptions per year and P's are the subscription prices per year. The cost of providing Q units of service is given by TC = 1000 + 30Q, where Q = Qus+ QCA (a) What are the profit-maximizing prices and quantities for the US and Canadian markets? (b) As a consequence of a new VPN service that Facebook has developed, subscribers in Canada are now able to get the US streams and vice versa, so Sal can charge only a single price. What is the profit-maximizing single price that he should charge? (c) In which situation is Sal better off? In terms of consumers' surplus which situation do people in Canada prefer and which do people in the US prefer? Why?
5
A manufacturer of hospital supplies has a uniform annual demand for 180,000 boxes of bandages. It costs $20 to store one box of bandages for one year and $500 to set up the plant for production. How many times a year should the company produce boxes of bandages in order to minimize the total storage and setup costs? The company should produce boxes of bandages time(s) a year. you ge.. Next R. RAZER
Price (Dollars per Bushel) 950 900 850 D 800 750 700 650 600 550 500 450 400 350 300 250 200 150 100 50 0 0 3 6 9 12 15 S 18 21 24 27 Bushels of Corn (Billions) The graph above shows hypothetical demand and supply functions for corn in the U.S. Oil prices increase due to some political problems in middle east. This causes the marginal cost of producing each bushel of corn to increase by $150.00. This is because, oil is used to produce gasoline that farmers use to operate tractors, groundwater water pumps, and other farming equipment. Higher gasoline prices also affect the costs of transporting corn to consumer centers. This number may, of course, be unrealistic. But it will make the graph less messy and calculations less cumbersome. Calculate the following:

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