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?
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter1: What Economics Is About
Section: Chapter Questions
Problem 24QP
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