A Feedlot Is Trying to Decide on the Lowest Cost

question 17

Essay

A feedlot is trying to decide on the lowest cost mix that will still provide adequate nutrition for its cattle. Suppose that the numbers in the chart represent the number of grams of ingredient per 100 grams of feed and that the cost of Feed X is $5/100grams, Feed Y is $3/100 grams, and Feed X is $8/100 grams. Each cow will need 50 grams of A per day, 20 grams of B, 30 grams of C, and 10 grams of D. The feedlot can get no more than 200 grams per day per cow of any of the feed types. Formulate the problem as a linear program.

---

Definitions:

Monthly Payment

The amount of money that is paid on a monthly basis for the use of a service or repayment of a loan.

IFRS Advisory Council

A group that provides the International Accounting Standards Board (IASB) with strategic advice on the setting and implementation of international financial reporting standards.

IFRS Foundation Trustees

The oversight body responsible for governance and oversight of the International Financial Reporting Standards Foundation.

International Accounting Standards

A set of accounting standards developed and overseen by the International Accounting Standards Board (IASB), aiming to promote global consistency in financial reporting.