Business, 07.04.2020 04:49 keke6361

A mining company owns two mines, each of which produces three grades (high, medium, and low) of ore. The company has a contract to supply a smelting company with at least 12 tons of high- grade ore, at least 8 tons of medium-grade ore, and at least 24 tons of low-grade ore. Each hour of operation, mine 1 produces 6 tons of high- grade ore, 2 tons of medium-grade ore, and 4 tons of low-grade ore. Each hour of operation, mine 2 produces 2 tons of high-grade ore, 2 tons of medium-grade ore, and 12 tons of low-grade ore. It costs $200 per hour to operate mine 1 and $160 per hour to operate mine 2. How many hours should each mine be operated so as to meet the contractual obligations at the lowest total operating cost.

Required:
a. Formulate a linear programming model for this problem.
b. Solve this model by using graphical analysis.

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A mining company owns two mines, each of which produces three grades (high, medium, and low) of ore....

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