In California, biodiesel fuel is produced using a combination of soybean oil (S) and cooking grease (G) leftover from fast food restaurants. Assume that the production function takes the form of q = 25 + G. The price of soybean oil is $12/gallon and the price of grease is $8/gallon. If your company needs to produce q = 100 gallons of biodiesel, what would be the optimal mix of (S) and (G) to utilize to minimize the cost of production? 1. The amount of (S) would be 2. The amount of (G) would be 3. The marginal cost of biodiesel production at q = 100 gallons is

In California, biodiesel fuel is produced using a combination of soybean oil (S) and cooking grease (G) leftover from fast food restaurants. Assume that the production function takes the form of q = 25 + G. The price of soybean oil is $12/gallon and the price of grease is $8/gallon. If your company needs to produce q = 100 gallons of biodiesel, what would be the optimal mix of (S) and (G) to utilize to minimize the cost of production? 1. The amount of (S) would be 2. The amount of (G) would be 3. The marginal cost of biodiesel production at q = 100 gallons is

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter8: Cost Analysis

Section: Chapter Questions

Problem 9E

See similar textbooks

Similar questions

Berger Paints sold the following volumes of white paint over the last four as shown (week 1-750 kg, week 2-825 kg, week 3-625 kg, week 4- 568 kg), Using the following weights accordingly 0.1, 0.2, 0.3, 0.4 project what week 5 projected volume. a. 465 b. 324 C. 655 d. 326
Engineering Economics 0006 Please show step by step solution
A heavy equipment manufacturing company has produced its first unit using 3500 hours and $300,000 overhead cost. The next unit, i.e. the second unit took 3300 hours. Overhead cost for this unit was $200,000. Suppose the labor was $20 per hour. Being the production manager, you need to decide what would be the total production costs for additional 10 units after the completion of the second unit. Round the final amount to nearest integer. $1,597,832 C$1,003,183 (DNone of the above
The cost, in millions of dollars, of building a three-story high school in NewYork State was estimated to be:   2C x x x x      1.7 0.14 0.0001 20 400where x is the number of thousands of square feet. Suppose that you arecontemplating building a for-profit three-story high school and estimate thatyour total revenue will be $0.2 million dollars per thousand square feet.(a) What is minimum area for a three-story high school in New YorkState, that this model covers? (b) What is the variable cost of building a three-story high school in NewYork State? (c) What is the fixed cost of building a three-story high school in NewYork State? (d) Determine the profit function,P x( ), for building a three-story highschool in New York State? . (e) Determine,P(250) , for building a three-story high school in New YorkState, and interpret the result. (f) How many thousands of square feet should a three-story high schoolbuilding in New York State be in order to break even?
ATC, AAC, AVC, MC (/uni 270.00 24000 21000 180.00 150.00 120.00 10:00 60.00 30.00 0:00 02 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 Units of Output (0) Unit Cost Curves Refer to the graph above. The curves are not labeled. To help get this question right, you must first label the curves. An output level of 18 is identified with the dark vertical line. The shaded rectangular area (height times width) is the O average sunk cost. O total sunk cost O total avoidable fed cost. O total avoidable cost. O None of the above
please solve 1-2-3-4
Until recently, hamburgers at the city sports arena cost $2.50 each. The food concessionaire sold an average of 4,500 hamburgers on game night. WWhen the price was raised to $3.00, hamburger sales dropped off to an averag of 4,000 per night. The concessionaire's fixed costs were $7,405.30 per night and the variable cost was $0.54 per hamburger. Answer the following questions (A) through (F). (A) Assume that the relationship between price p and demand x is linear. Express p as a function of x and find the domain of this function. ..... (Simplify your answer.) The domain of p is (Type a compound inequality.) (B) Find the revenue function in terms of x and state its domain. R(x) = (Simplify your answer.) The domain of R(x) is (Type a compound inequality.) (C) Assume that the cost function is linear. Express the cost function in terms of x. C(x) = (Simplify your answer.) (D) Graph the cost function and the revenue function in the same coordinate system. Choose the correct graph below. O A.…
Kindly answer using your words/expertise, including graphs, i will complain if you have used chatgpt as most of the experts are doing.
The time to assemble the first unit on a production line is 6 hours The learming rate is 0 86. Approximately how long wilttake for the seventh unit to be assembled? The number of hours needed for the seventh unit to be assembled is hours (Round to one decimal place) nswer in the answer box
Solve the following equation for R. I'Rt J
Cost Analysis A company manufactures fuel tanks for cars. The total weekly cost (in dollars) of producing X fuel tanks is given by.. C(x) = 10000 +90x - 0.05x² %3D Find the exact cost of producing the 501st item. (Round to the nearest 2 decimal places, if needed) HINT: Steps to fiınd actual or exact (cost/revenue/profit) 1. Find the cost of x = 5003B 2. Then find the cost of x = 501%3; 3. Then subtract ASUS 3 近

II. Find The Minimum Cost and graph : 1. C = x2 - 16x + 74 2. C = x2 - 40x + 405 Thank you.