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Homework answers / question archive / 1) A coal power plant in Michigan uses coal ash and co-fires it with biofuels in the production of electricity

1) A coal power plant in Michigan uses coal ash and co-fires it with biofuels in the production of electricity

Economics

1) A coal power plant in Michigan uses coal ash and co-fires it with biofuels in the production of electricity. The cost Y, expressed as thousands of dollars per hour, to produce electricity is Y = 20 + X + 0.15X2, where X is in megawatts. Revenue in thousands of dollars per hour from the sale of electricity is expressed as 25X−0.5X2. Find the value of X that produces the maximum profit for the plant. Submit your answer to the nearest hundredth of a megawatt

2) The manufacturer of Brand A automobile tires claims that its tire can save 110 gallons of fuel over 55,000 miles of driving, as compared to a popular compeditor (brand B). If gasoline costs $4.00 per gallon, how much per mile driven does this tire save the customer (Brand A versus Brand B)?

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