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Perth Mining Company operates two mines for the purpose of extracting gold and silver. The Saddle Mine costs $13,000/day to operate, and it yields 55
Perth Mining Company operates two mines for the purpose of extracting gold and silver. The Saddle Mine costs $13,000/day to operate, and it yields 55 oz of gold and 2900 oz of silver each day. The Horseshoe Mine costs $15,500/day to operate, and it yields 70 oz of gold and 1000 oz of silver each day. Company management has set a target of at least 460 oz of gold and 10,800 oz of silver. How many days should each mine be operated so that the target can be met at a minimum cost?
Saddle Mine days Horseshoe Mine days
What is the minimum cost?
$
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