8. Pro wants to buy two thousand units of share P and share Q in total...

8. Pro wants to buy two thousand units of share P and share Q in total while keeping the cost to the minimum. Each share P costs $30 and each share Q costs $80. As per strategy, Pro must buy at least 100 units of each share, and number of Share P must be at least twice the number of Share Q.

****PLEASE SHOW ALL ANSWERS,FORMULAS, STEPS, DONE THROUGH EXCEL ****

Solutions

Expert Solution

Decision Variable:

Xp = Units of Share P

Xq = Units of Share Q

Objective Function:

Minimize Cost (Z) = 30*Xp + 80*Xq

Constrains:

C1: Xp + Xq = 2000

C2: Xp >= 100

C3: Xq >=100

C4:Xp >=2*Xq

Xp - 2*Xq >=0

Xp, Xq >=0 (integers)

We can solve it using Excel Solver

i) Excel LP formation

ii) Formula Used

iii) Solver Parameters

iv) Solution

keosha answered 1 year ago

Next > < Previous

Related Solutions

1)The total profit P(x) (in thousands of dollars) from a sale of x thousand units of...

1)The total profit P(x) (in thousands of dollars) from a sale of x thousand units of a new product is given by P(x)= ln (-x3+9x2+48x+1) (0≤x≤10). a) Find the number of units that should be sold in order to maximize the total profit. b) What is the maximum profit? 2)Suppose that the cost function for a product is given by C(x)=0.003x3+9x+9,610. Find the production level (i.e., value of x) that will produce the minimum average cost per unit C(x). a)The...

If the producer of a commodity spends x thousand dollars on advertising, then Q(x)=43-10e^(-1/2x) thousand units...

If the producer of a commodity spends x thousand dollars on advertising, then Q(x)=43-10e^(-1/2x) thousand units of the commodity will be sold. (a) How many units will be sold if no money is spent on advertising? How many units will be sold if 5,000 dollars are spent on advertising? (b) How much should be spent on advertising to sell 40,000 units? (c) Compute the limit limx→∞ Q(x). What does this limit mean in the given context of the problem? Please...

A firm's total cost of producing Q units of output is C (Q) = 79 + 20Q. The inverse demand curve for the firm's product is P(Q) = 100-Q, where P denotes the price of the product.

A firm's total cost of producing Q units of output is C (Q) = 79 + 20Q. The inverse demand curve for the firm's product is P(Q) = 100-Q, where P denotes the price of the product. a) If the price of the product is set equal to the firm's marginal cost, what profit will the firm earn? b) If the firm charges a two-part tariff (a fixed fee plus a per unit price), how large is the fixed fee? How large...

Gene P has two alleles - P and p; gene Q has two alleles - Q...

Gene P has two alleles - P and p; gene Q has two alleles - Q and q. If an PQ/pq female is crossed with a pq/pq male, what percent of the offspring would have genotype pq/pq if... A) the genes were completely linked (no crossing-over at all; recombination frequency = 0; 1 mark) B) the genes are 10 map units apart (1 mark) C) the genes are 24 map units apart (1 mark) For either part (B) or (C)...

Draw a graph for a CwDP firm which faces a demand curve showing Q=0 at P=$12, and Q=8 at P=$8, a SRMC curve which interests MR at Q=8, and SRATC=$6 at Q=8.

a-Draw a graph for a CwDP firm which faces a demand curve showing Q=0 at P=$12, and Q=8 at P=$8, a SRMC curve which interests MR at Q=8, and SRATC=$6 at Q=8. What level of output should this firm produce? At that output would the firm make a profit, or loss? How much per unit and in total?b-Using the same information from the previous question, assume the SRATC changes so that at Q=8 the firm incurs a loss of $2/unit...

A firm's total cost of producing Q units of output is C (Q) = 79 +...

A firm's total cost of producing Q units of output is C (Q) = 200 +...

A firm's total cost of producing Q units of output is C (Q) = 200 + 50Q. The inverse demand curve for the firm's product is P(Q) = 80-Q, where P denotes the price of the product. a) If the price of the product is set equal to the firm's average, how much will the firm produce? (5 points) Hint: choose the larger of the two numbers. Show your work. b) If the firm is under marginal cost pricing, how...

The company wants to buy the jet for $ 1275,000 with a total annual fee of...

The company wants to buy the jet for $ 1275,000 with a total annual fee of $ 195,000, which consists of maintenance, license, and insurance costs. Hourly operating costs are estimated at $ 275, which includes fuel costs, pilot fees, and so on. The company will use this jet for 140 hours per year for five years. The residual value of the jet aircraft at the end of year 5 is $ 400,000. The MARR set by the company 15%....

Solve the following system of linear equations: −p + q + 2r = 8 (1) p...

Solve the following system of linear equations: −p + q + 2r = 8 (1) p + q + 2r = 0 (2) 2q − 2r = 2 (3). The sum of the values of p, q and r of the solution is

A monopolist has a demand curve given by P = 120 - Q and a total...

A monopolist has a demand curve given by P = 120 - Q and a total cost curve given by TC = 50 +2Q2. The associated marginal cost curve is MC = 4Q. Suppose the monopolist also has access to a foreign market in which he can sell whatever quantity he chooses at a constant price of 88. How much will he sell in the foreign market? What will his new quantity and price be in the original market?

Subjects