For each price combination below compute the price ratio, Ask an Expert

Management Studies

For each price combination below, compute the price ratio and find the corresponding least-cost ration. Price Least-Cost Ratio Ration No. a) Corn at 4.0¢ per lb., SBOM at 12¢ per lb. .03 _________ b) Corn at 5.7¢ per lb., SBOM at 7.5¢ per lb. 1.32 _________ c) Corn at 5.0¢ per lb., SBOM at 9¢ per lb. .02 _________ d) Corn at 6.5¢ per lb., SBOM at 14¢ per lb. .02 _________ e) Corn at 3.0¢ per lb., SBOM at 15¢ per lb. .05 _________ 2. Is the least-cost ration really least-cost? Let's do one check. PLEASE SHOW ALL YOUR WORK. Using the prices in question 1 part (a) above: a) Compute the total cost of the least-cost ration you found in question 1 part (a). b) Compute the total cost of Ration #8. c) How much money would you save by feeding your least-cost ration instead of Ration #8? 3. What happens to the least-cost ration if the price of both feeds doubles? WHY? 4. What would happen to the substitution ratios you have calculated if the corn values were all 10 lbs. higher? 5. What would happen to the total cost of any of the least-cost rations if the corn values were all 10 lbs. higher?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M91888076

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