Rats run on treadmills according to the function: E = 5+ 62R –R where E = volts of electricity R= number of rats Rats cost $10 each. Electricity can be sold on the grid for $5 per volt. It costs $500 to build a large cage for the rats. Show your work/thought process: a. What is the optimal amount of rats (R) to purchase? b. Given your answer in part a, what is the total amount of electricity (E) that will then be produced?

Rats run on treadmills according to the function: E = 5+ 62R –R where E = volts of electricity R= number of rats Rats cost $10 each. Electricity can be sold on the grid for $5 per volt. It costs $500 to build a large cage for the rats. Show your work/thought process: a. What is the optimal amount of rats (R) to purchase? b. Given your answer in part a, what is the total amount of electricity (E) that will then be produced?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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