QUESTION 6 Assume you have some hogs on feed and would like to have them gain another 130 pounds before they are sold. You would like to feed a combination of corn and soybean oil meal. The following table shows various combinations of corn and soybean oil meal that will produce 130 pounds of gain. Assume corn costs $0.05 per pound and soybean oil meal costs $0.35 per pound. At these prices, which ration below is the least cost combination of these two feeds? Ration Number Corn (lbs) Soybean Oil Meal (lbs) 1 440 40 2 400 45 3 365 50 4 335 55 5 310 60 6 290 65 7 275 70 8 265 75 9 260 80 10 260 85 a. Ration 7 b. Ration 5 c. Ration 6 d. Ration 3
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To calculate the cost of each ration, we need to multiply the weight of corn and soybean oil meal by their respective prices and sum them up. Ration 1: Cost = (440 lbs * $0.05/lb) + (40 lbs * $0.35/lb) Ration 2: Cost = (400 lbs * $0.05/lb) + (45 lbs * Show more…
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