Electricity is produced with water according to the function: E = 5 + 5W-1W² where E = kilowatt-hour and W = gallons of water. Water costs $0.02 per gallon. Electricity can be sold on the grid for $0.10 per kWh (kilowatt-hour). How much water should be purchased?

Electricity is produced with water according to the function: E = 5 + 5W-1W² where E = kilowatt-hour and W = gallons of water. Water costs $0.02 per gallon. Electricity can be sold on the grid for $0.10 per kWh (kilowatt-hour). How much water should be purchased?

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

Chapter1: Introduction And Goals Of The Firm

Section: Chapter Questions

Problem 4E: In the Southern Company Managerial Challenge, which alternative for complying with the Clean Air Act...

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Electricity is produced with water according to the
function:
E = 5 + 5W-1W²
where E = kilowatt-hour and W = gallons of water.
Water costs $0.02 per gallon. Electricity can be sold
on the grid for $0.10 per kWh (kilowatt-hour). How
much water should be purchased?

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