This lean ground beef is a mixture of two meat cuts: chuck and sirloin, both of which contain both lean and fat meat. Th

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This Lean Ground Beef Is A Mixture Of Two Meat Cuts Chuck And Sirloin Both Of Which Contain Both Lean And Fat Meat Th 1 (283.83 KiB) Viewed 29 times

This lean ground beef is a mixture of two meat cuts: chuck and sirloin, both of which contain both lean and fat meat. The cost per pound and percentage of lean meat and fat meat for these two cuts are as follows: Cut Lean Meat Fat Meat Cost Chuck 9% 2% $9.3/lb Sirloin 60% 6% $8.4 /lb In order for Jim's company to market its beef as "lean ground beef," it must contain at least 30% lean meat and at most 5% fat meat. Jim wishes to minimize his cost in creating his company's lean ground beef. Jim also needs to make at least 50 pounds of meat per day. Part 2: How much would the objective improve if we relaxed the constraint concerning the daily shipment requirement of ground beef by 1 unit? In other words, what is the 'marginal value', 'dual value' or 'shadow price for the daily shipment amount constraint?