MINIMIZING OIL REFINERY COSTS An oil company operates two refineries in a certain city. Refinery I has an output of 200,100, and 100 barrels of low-, medium-, and high-grade oil per day, respectively. Refinery II has an output of 100, 200, and 600 barrels of low-, medium-, and high-grade oil per day, respectively. The company wishes to produce at least 1000, 1400, and 3000 barrels of low-, medium-, and high-grade oil, respectively, to fill an order. If it costs $200/day to operate Refinery I and $300/day to operate Refinery II, determine how many days each refinery should be operated to meet the production requirements at minimum cost to the company. What is the minimum cost?
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Chapter 4 Solutions
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