The table below gives combinations of silage and grain (inpu…
The table below gives combinations of silage and grain (inputs) that will produce 20,000 pounds of milk per year (output). Ration Number Grain (lbs.) Silage (lbs.) Substitution Ratio 1 4,000 11,628 XXX 2 4,500 9,880 3.50 3 5,000 8,322 3.12 4 5,500 6,935 2.77 5 6,000 5,700 2.47 6 6,500 4,598 2.20 If grain costs $0.15/lb and silage costs $0.06/lb, what is the least-cost combination of grain and silage for the feed ration?
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