Problem
Ocean water contains 0.9 ounces of gold per ton. Method A costs $550 per ton of water processed and will recover 90% of the metal. Method B costs $400 per ton of water processed and will recover 60% of the metal. The two methods require the same capital investment and are capable of producing the same amount of gold each day. If the extracted gold can be sold for $1,750 per ounce, which method should be recommended? The supply of ocean water is essentially unlimited. Hint: Work this problem on the basis of profit per ounce of gold extracted.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.