1 A power company faces demands during both peak and off-peak times. If a price of p1...
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1 A power company faces demands during both peak and off-peak times. If a price of p1 dollars per kilowatt-hour is charged during the peak time, customers will demand 60
0.5 p1 kwh of power. If a price of p2 dollars is charged during the off-peak time, then customers will demand 40
p2 kwh. The power company must have sufficient capacity to meet demand during both the peak and off-peak times. It costs $10 per day to maintain each kilowatt-hour of capacity.
Determine how the power company can maximize daily revenues less operating costs.
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Related Book For
Operations Research Applications And Algorithms
ISBN: 9780534380588
4th Edition
Authors: Wayne L. Winston
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