2 Problem 3Florida Generation owns two generating units with the following cost curve:C, =15+1.4P, + 0.04P, SIh, 50 s P, S 150C, = 25+1.6P, + 0.02P; S/h, 200 s P, s 500Florida Generation needs to supply a demand of 400MW. It can also purchase power from the wholesalepower market with a market clearing price at $15/MWh.1) Find the optimal production level for each unit P, and P,, and the optimal amount of power P,that is to be purchased from the wholesale power market.2) Calculate the total cost for supplying this demand.

Given, C =15+14P, +0.04P/ Sh. 505P, S150 C, = 25 +16P, +0.02P; /h. 2005 P, S 500

Answered: Problem 3 Florida Generation owns two…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 33P: Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand...

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