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Q1. 20pts rotat- In this exercise. we will determine the prot maximizing level of input to use. Please answer all questions in word and submit
Q1. 20pts rotat- In this exercise. we will determine the prot maximizing level of input to use. Please answer all questions in word and submit the word document and the Excel le. You may handwrite your equations. but please submit yolu' work. too. This helps me provide better feedback. Suppose you are a cattle producer. and you decide you want to background your weaned calves for 90 days. You recently had a feed nutritionist suggest you use a feed additive to boost your steer weight gain. You contracted to sell your calves at $130.35.:"cwt. The feed additive costs $14.?5r'lb. According to the nutritionist. the relationship between lbs of feed additive (x) and total steer gain per lld (y). You were able to estimate steer gain with the following equation: Y = 9x + 5.9x2 0.34 x3 Where Y is the total steer gain in lbs per hd and x is the total feed additive fed per head. a. "What are the equations for APP and MPP? 2 pts b. Mathematically determine the amount of the feed additive that is the boundary between Stage I and Stage II. Round you answer to two decimal places. 2 pts c. Mathematically determine the amount of the feed additive that is the boundary between Stage II and Stage III. Round your answer to two decimal places. 2 pts
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