Question

The government of Grenada wishes to rebuild the West coast road that leads to the north of the island to help alleviate traffic congestion and to provide users with a safer road network. The government of Grenada has approached two (2) contractors for an estimate. They are required to submit a proposal that details the cost combination of labour ( L), machinery (M), and technology (T) in achieving their expected total cost, total profit, and total revenue. Contractor 1 Two labour, four machinery, and three technology will result in a total cost of thirty-three dollars. While one labour, two machinery, and one technology give a total profit of fifteen dollars. Lastly, ten labour, five machinery, and six technologies result in total revenue of eighty-three dollars. Contractor 2 No Proposal was submitted. g) Hence or otherwise, determine the price of Contractor 1's labour, machinery and technology.

Answer 1

To determine the price of the labor, machinery, and technology for Contractor 1, setting up a system of equations using the given information is necessary. Solving this system of equations will allow us to find the prices.

Step-by-step explanation:

Contractor 1's proposal provides information on the combinations of labor (L), machinery (M), and technology (T) that result in total cost, total profit, and total revenue. To determine the price of the labor, machinery, and technology for Contractor 1, we can set up a system of equations using the given information.

Let's denote the price of labor as $x, the price of machinery as $y, and the price of technology as $z.

From the first piece of information, we have the equation 2x + 4y + 3z = 33. From the second piece of information, we have the equation x + 2y + z = 15. Finally, from the third piece of information, we have the equation 10x + 5y + 6z = 83.

Solving this system of equations will allow us to find the prices of labor, machinery, and technology for Contractor 1.