Answered: erth Mining Company operates two mines…

Name: Perth Mining Company operates two mines for the purpose of extracting
Uploaded: 2024-03-20T07:07:26.000Z
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Description: Perth Mining Company operates two mines for the purpose of extracting gold and silver. The Saddle Mine costs $6,000/day to operate, and it yields 50 oz of gold and 3000 oz of silver each day. The Horseshoe Mine costs $8,000/day to operate, and it yie

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ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

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Perth Mining Company operates two mines for the purpose of extracting gold and silver. The Saddle Mine costs $6,000/day to operate, and it yields 50 oz of gold and 3000 oz of silver each day. The Horseshoe Mine costs $8,000/day to operate, and it yields 75 oz of gold and 1000 oz of silver each day. Company management has set a target of at least 650 oz of gold and 18,000 oz of silver. How many days should each mine be operated so that the target can be met at a minimum cost to the company?

Saddle Mine__?__ Days

Horseshoe Mine__?__Days

What is the minimum cost?_____

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