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Recall the production model: Max 10x s.t. Suppose the firm in this example considers a second product that has a unit profit of $5 and requires 2 hours of labor time for each unit produced. Use y as the number of units of second product produced. (a) Show the mathematical model when both products are considered simultaneously. Max 5x ≤ 40 x ≥ 0 s.t. x > 0.x>0

Recall the production model: Max 10x s.t. Suppose the firm in this example considers a second product that has a unit profit of $5 and requires 2 hours of labor time for each unit produced. Use y as the number of units of second product produced. (a) Show the mathematical model when both products are considered simultaneously. Max 5x ≤ 40 x ≥ 0 s.t. x > 0.x>0

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Recall the production model: Max Max s.t. s.t. 10x Suppose the firm in this example considers a second product that has a unit profit of $5 and requires 2 hours of labor time for each unit produced. Use y as the number of units of second product produced. (a) Show the mathematical model when both products are considered simultaneously. 5x ≤ 40 x ≥ 0 x ≥ 0, y ≥ 0
Transcribed Image Text:Recall the production model: Max Max s.t. s.t. 10x Suppose the firm in this example considers a second product that has a unit profit of $5 and requires 2 hours of labor time for each unit produced. Use y as the number of units of second product produced. (a) Show the mathematical model when both products are considered simultaneously. 5x ≤ 40 x ≥ 0 x ≥ 0, y ≥ 0
(b) Identify the controllable and uncontrollable inputs for this model. (Select all that apply.) (i) controllable X (ii) uncontrollable X = 0000000000 y = P = y labor hours labor availability unit profit $ (c) What are the optimal solution values of x and y? (Let P be total profit.) X y labor hours labor availability unit profit
Transcribed Image Text:(b) Identify the controllable and uncontrollable inputs for this model. (Select all that apply.) (i) controllable X (ii) uncontrollable X = 0000000000 y = P = y labor hours labor availability unit profit $ (c) What are the optimal solution values of x and y? (Let P be total profit.) X y labor hours labor availability unit profit
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