Answer:
If mN is 74° parallel the mY would be - 74° parallel to mN
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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.
Answer:
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With prices down and wages fixed by contract, Milli's Frozen Pizzas decides to lay off workers would not be an expected response from a decrease in the price level.
<h3>What happens to the budget line if prices don't change but consumer income does?</h3>
Consumers will switch to the consumption of lower combinations of goods or services if their income declines. Since the cost of the commodities has not changed, the budget line will drop downward but the slope stays the same.
When one or both product prices fluctuate while nominal revenue (budget) stays the same, the budget line will alter. a change in the nominal income level with no change in the relative prices of the two goods.
To know more about budget line, refer:
brainly.com/question/14637545
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