The government is auctioning off oil leases at two sites. At each site, 150,000 acres of land are to be auctioned. Cliff Ewing, Blake Barnes, and Alexis Pickens are bidding for the oil. Government rules state that no bidder can receive more than 45% of the land being auctioned. Cliff has bid $2000 per acre for site 1 land and $1000 per acre for site 2 land. Blake has bid $1800 per acre for site 1 land and $1500 per acre for site 2 land. Alexis has bid $1900 per acre for site 1 land and $1300 per acre for site 2 land. a. Determine how to maximize the government’s revenue with a transportation model. b. Use SolverTable to see how changes in the government’s rule on 45% of all land being auctioned affect the optimal revenue. Why can the optimal revenue not decrease if this percentage required increases? Why can the optimal revenue not increase if this percentage required decreases?

The government is auctioning off oil leases at two sites. At each site, 150,000 acres of land are to be auctioned. Cliff Ewing, Blake Barnes, and Alexis Pickens are bidding for the oil. Government rules state that no bidder can receive more than 45% of the land being auctioned. Cliff has bid $2000 per acre for site 1 land and $1000 per acre for site 2 land. Blake has bid $1800 per acre for site 1 land and $1500 per acre for site 2 land. Alexis has bid $1900 per acre for site 1 land and $1300 per acre for site 2 land. a. Determine how to maximize the government’s revenue with a transportation model. b. Use SolverTable to see how changes in the government’s rule on 45% of all land being auctioned affect the optimal revenue. Why can the optimal revenue not decrease if this percentage required increases? Why can the optimal revenue not increase if this percentage required decreases?

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter2: Systems Of Linear Equations

Section2.4: Applications

Problem 26EQ

See similar textbooks

Similar questions

If a patient had a PPO plan with a 500 dollar in network deductible, and a 90 percent coinsurance with a 1000 out of networks deductible and 70 percent co-insurance , how much would you pay for a 34,000 bill from an innetwork doctor.
If a company has a total of 18,000,000 shares and an investor owns 14% of the company. How many shares do they own?
Two dentists, Lydia Russell and Jerry Carlton, are planning to establish practices in a newly developed community. Both have allocated approximately the same total budget for advertising in the local newspaper and for the distribution of fliers announcing their practices. Because of the location of their offices, Russell is expected to get 47% of the business if both dentist advertise only in the local newspaper; if both dentist advertise through fliers, then Russell is expected to get 42% of the business; if Russell advertises exclusively in the local newspaper and Carlton advertises exclusively through fliers, then Russell is expected to get 50% of the business. Finally, if Russell advertises through fliers exclusively and Carlton advertises exclusively in the local newspaper, then Russell is expected to get 49% of the business. (a) Construct the payoff matrix for the game. (Enter each percentage as a decimal.) Carlton N F Russell NF…
Billy-Sean O'Hagan is the treasurer at his college fraternity, which recently earned $15,350 in its annual carwash fundraiser. Billy-Sean decided to invest all the proceeds in the purchase of three computer stocks: HAL, POM, and WELL. Price per Share ($) Dividend Yield (%) HAL 100 0.5 POM 20 1.50 WELL 25 0 If the investment was expected to earn $74 in annual dividends and he purchased a total of 230 shares, how many shares of each stock did he purchase? i have x+y+z=230 100x+20y+25z=15,350 5x+30y=74 i get y=31 but its incorrect, help please
A US firm, having prior knowledge that Russia would invade Ukraine, bought 100,000 barrels of oil from Heritage Limited , a Trinidad firm . If in January 2022, the US firm enters into a forward contract to purchase the oil at US$65 per barrel to settle in November 2022, what is the gain/loss on the contract to the US firm? The spot price of oil in November averages US$100 per barrel. a. US$35,000 loss b. US$40,000 gain c. US$40,000 loss d. US$35,000 gain
if a pup is worth a pooch and mutt, and a pup and a pooch are worth one bird-dog, and two bird-dogs are worth three mutts, how many pooches is a pup worth?
Tom Doe, a small investor, wishes to buy stock in three of 8 Biotech companies, two of 10 retail companies, and one of 12 healthcare companies. How many different portfolios could his stockbroker put together for him?
1.The Strauss family is deciding between two lawn-care services.Green lawn charges a $49 startup fee,plus $29 per month.Grass team charges a $25 startup fee,plus $37 per month.In how many months will both lawn-care services cost the same ? 2.Which lawn service should you choose if you only only need lawn services for two months?
A new restaurant is to contain four-seat booths and three-seat round tables. Fire codes limit the restaurants maximum occupancy to 56 customers. If the owners have hired enough servers to handle 16 tables of customers, how many of each kind of table should they purchase? How many four-seat booths should the restaurant purchase? How many threes-seat round tables should the restaurant purchase?
In a survey conducted by Helena, a financial consultant, it was revealed of her 409 clients 276 own stocks.190 own bonds.171 own mutual funds.114 own both stocks and bonds.98 own both stocks and mutual funds.93 own both bonds and mutual funds. How many of Helena's clients own stocks, bonds, and mutual funds? (Assume each client invested in at least one of the three types of funds.) clients
If four cars sell for an average of $10,000 each and three of the cars sell for $8,400 each, what is the cost of the fourth car?
An appropriations bill passes the U.S. House of Representatives with 59 more members voting in favor than against. If all 435 members of the House voted either for or against the bill, how many voted in favor and how many voted against?