Answer:
They should operate Mine 1 for 1 hour and Mine 2 for 3 hours to meet the contractual obligations and minimize cost.
Explanation:
The formulation of the linear programming is:
Objective function:
Restrictions:
- High-grade ore: 
- Medium-grade ore: 
- Low-grade ore: 
- No negative hours: 
We start graphing the restrictions in a M1-M2 plane.
In the figure attached, we have the feasible region, where all the restrictions are validated, and the four points of intersection of 2 restrictions.
In one of this four points lies the minimum cost.
Graphically, we can graph the cost function over this feasible region, with different cost levels. When the line cost intersects one of the four points with the lowest level of cost, this is the optimum combination.
(NOTE: it is best to start with a low guessing of the cost and going up until it reaches one point in the feasible region).
The solution is for the point (M1=1, M2=3), with a cost of C=$680.
The cost function graph is attached.
5% of 2265$ is 113,25$
Because 5% is 5/100 so 5 x 2265$ = 11325$
11325$ : 100 = 113,25$
Second year cost is the first year’s plus 5% so
2265$ + 113,25$ = 2378,25$ (second year cost)
Answer:
a. Market penetration
Explanation:
Market penetration strategy is a product promotion approach through which a company seeks to gain a greater share in markets it already operates. The strategy is used to increase sales volumes in existing markets.
Market penetration applies where similar goods and services exist. A company uses the low-price technique or present its products as superior as compared to those of its rivals. The objective is to draw customers' attention to the company's products. Advertising using special features and benefits presents the products as unique and superior, thereby attracting customers' attention.
Answer:
Specific performance
Explanation:
Based on the information provided within the question it can be said that in this scenario the order that Wally should seek is known as Specific performance. This is a court order which forces the breaching party to perform the agreed upon act, and by doing so complete the agreed upon specifications set forth by the contract. Failure to do so will find the individual in contempt of court.
Answer:
A Bill
Explanation:
A bill is a request for payment. A bill is usually considered from the customer's standpoint. It's common to receive a bill without an invoice, as in a restaurant or retail store. A bill is usually given with the expectation of immediate payment.
