Each product should they make to maximize profits

Assignment Help Business Economics
Reference no: EM13995876

A company specializing in lubrication products for vintage motors produce two blended oils, Smazka and Neftianikov. They make a profit of $5 per litre of Smazka and $4 per litre of Neftianikov. A litre of Smazka requires 0.4 litres of heavy oil and 0.6 litres of light oil. A litre of Neftianikov requires 0.8litres of heavy oil and 0.2 litres of light oil. The company has 100 litres of heavy oil and 80 litres of light oil. How many litres of each product should they make to maximize profits? What level of profit will they obtain?

Reference no: EM13995876

Questions Cloud

Sponsor legislation to increase public spending : Assume your local congressman calls you for some economic advice. He wants to sponsor legislation to increase public spending on such common medical interventions as because he’s been told early detection saves money:
Relatively high degree of confidence in the military : The American people express a relatively high degree of confidence in the military as an institution yet express less confidence in Congress than in other major institutions. Could people be holding various institutions to different standards, and if..
Compute the profit maximizing schemes for the monopoly : The per-unit cost of the production is mc = 10. Our conclusion is that if we have only one two-part tariff scheme (f,p), it is the best for the monopoly to set f = 800 and p = mc = 10. What’s the necessary conditions that consumer 1 wants to particip..
Comment on the solvency of social security : Write in depth on the possibility of interest rate hike over the coming year. What do you believe are the reasons for this occurrence? Comment on the solvency of social security?
Each product should they make to maximize profits : A company specializing in lubrication products for vintage motors produce two blended oils, Smazka and Neftianikov. They make a profit of $5 per litre of Smazka and $4 per litre of Neftianikov. How many litres of each product should they make to maxi..
Creation of the north american free trade agreement : Ross Perot, a former presidential candidate of the Reform Party, which was a third political party in the United States, had strongly objected to the creation of the North American Free Trade Agreement (NAFTA), which nonetheless was inaugurated in 19..
Offered the alternative of receiving either : Suppose you are offered the alternative of receiving either $3000 at the end of five years or P dollars today. There is no question that the $3,000 will be paid in full (no risk). Because you have no current need for the money, you would deposit the ..
Why are older people considered an at risk population : Why are older people considered an at risk population? What are the potential hazards manifested in later adulthood? Describe local programs in your area which address the needs for the elderly.
How does the health of economy affect your financial health : How does the health of the economy affect your financial health? How healthy is the U.S. economy right now? On what measures do you base your judgments? How will your appreciation of the big picture help you in planning for your future?

Reviews

Write a Review

Business Economics Questions & Answers

  Elucidate rate most likely would be your income tax rate

Your friend makes half of your salary and pays 20% in income taxes. Elucidate rate most likely would be your income tax rate.

  Government intervene in the economy

Why does the government intervene in the economy? Should they and what would the impact be if they did not?

  Why might some firms voluntarily pay workers a wage

Why might some firms voluntarily pay workers a wage above the market equilibrium, even in the presence of surplus labor?

  Calculate the annual equivalent total cost for each machine

The annual opperating cost of the new operating machine is $7,000. The company uses a 20% MARR. Calculate the annual equivalent total cost for each machine. Would you replace the old machine at this time?

  Evaluate regression results

Fully evaluate these regression results, including computation of t-statistics, adjusted R2, and the F-statistic.

  Sharp decline in oil prices

Explain why sharp decline in oil prices might not necessarily have positive or negative impact.

  Achieve economic efficiency

What is output that should be produced to achieve economic efficiency and the value to society for correcting the externality.

  What conditions might the justice department approve

Under what conditions might the Justice Department approve a merger between two companies that operate in an industry with a premerger Herfindahl-Hirschman index of 2,900 if the postmerger index is expected to increase by 225.

  Excise tax is tax on specific good-excise tax on gas-liquor

Do you agree/disagree with the following statement: If the government increases the excise tax on bikes, the prices of bikes will rise? However, this will then cause the demand to decrease and as a result prices will fall back to their original level..

  The US-Mexico Bracero Program was eventually opposed by

This question may require some research. The US-Mexico Bracero Program was eventually opposed by:

  Draw a diagram illustrating how industry responds to policy

An industry's marginal abatement cost is MAC=2000-e. regulator controls emissions by selling 500 permits. Though, industries are also given option of paying a fee of $1000 per unit of emissions for which y do not hold a permit. Draw a diagram illu..

  Q1 what happened why did you leave the question and

q1. what happened why did you leave the question and suddenly demand higher price?q2. how do i calculate the change in

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd