A Businessman Is Considering Opening a Small Specialized Trucking Firm

question 48

Essay

A businessman is considering opening a small specialized trucking firm.To make the firm profitable,it is estimated that it must have a daily trucking capacity of at least 84,000 cu.ft.Two types of trucks are appropriate for the specialized operation.Their characteristics and costs are summarized in the table below.Note that truck 2 requires 3 drivers for long haul trips.There are 41 potential drivers available and there are facilities for at most 40 trucks.The businessman's objective is to minimize the total cost outlay for trucks. $$\begin{array} { c c c c } \text { Truck } & \text { Cost } & \begin{array} { c } \text { Capacity } \\( \text { Cu. Ft.) }\end{array} & \begin{array} { c } \text { Drivers } \\\text { Needed }\end{array} \\\hline \text { Small } & \$ 18,000 & 2,400 & 1 \\\text { Large } & \$ 45,000 & 6,000 & 3\end{array}$$ Solve the problem graphically and note there are alternate optimal solutions.Which optimal solution:
a.uses only one type of truck?
b.utilizes the minimum total number of trucks?
c.uses the same number of small and large trucks?

Identify how the sequencer instruction advances and resets based on conditional inputs or transitions.

Understand how mask, position, control, and destination parameters are used in sequencer instructions.

Grasp the concept of retentive and non-retentive properties of sequencer instructions in PLC programming.

Learn to analyze and interpret the desired outcomes at specific sequencer steps.

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Definitions:

Maximum Prices

Price caps set by the government on certain goods and services to protect consumers from excessive prices.

Producer Surplus

The difference between what producers are willing to accept for a good or service and the actual price they receive.

Equilibrium Price

The price at which the quantity of a product offered is equal to the quantity of the product demanded.

Willing To Pay

The maximum amount a consumer is ready to spend on a good or service, reflecting the value they place on it.