1. A furniture company makes TABLE and CHAIR.. The companyhas a maximum of 110 hours of labor and 300 board feet (bf) ofwood. They make a profit of $6 per TABLE and $8 per CHAIR.Each TABLE requires 30bf of wood and 5 hour for labor. EachCHAIR requires 20 bf of wood and 10 hours of labor.Read the above scenario and answer the following questions.A. Formulate an appropriate LPP for the above scenarioto find the maximum profit.B. Solve the LPP using graphical method to find theoptimal solution.

1st we will find decision variables and then find LPP using those decision variables . Then solve…

Answered: 1. A furniture company makes TABLE and…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Suppose demand is given by p = 1600 − x. Find the maximum revenue.
Cox Electric makes electronic components and has estimated the following for a new design of one of its products: Fixed Cost = $3,000 Material cost per unit = $0.15 Labor cost per unit = $0.10 Revenue per unit = $0.65 Production Volume = 12,000 Per-unit material and labor cost together make up the variable cost per unit. Assuming that Cox Electric sells all it produces, build a spreadsheet model that calculates the profit by subtracting the fixed cost and total variable cost from total revenue, and answer the following questions. (a) Construct a one-way data table with production volume as the column input and profit as the output. Breakeven occurs when profit goes from a negative to a positive value; that is, breakeven is when total revenue = total cost, yielding a profit of zero. Vary production volume from 5,000 to 50,000 in increments of 5,000. In which interval of production volume does breakeven occur? to units
5) A factory owner has 100 employees that produce 6000 computers per day. For each additional employee that the owner highers, the average production per employee decreases by 8 computers. How many employees should the owner have in order to maximize production?
(4
A local electricity company produces and distributes electricity to residential customers. The firm is a monopoly and it is regulated such that p = MC. The firm faces the following demand function: p = 800 – 2g and its total cost function is: C = 22500 + 200g + q². a) Find the deadweight loss that would result if this company was allowed to operate as a profit maximizing firm, compared to the situation under regulation. b) Calculate the Lerner index of Monopoly Power at the profit maximizing point.
Jester's Deli sells 640 sandwiches at a price of $8 each. A market survey shows that for every $0.10 reduction in price, 40 more sandwiches will be sold. Let x represent the number of $0.10 reductions.
Bruce's Material Company hauls gravel to a construction site, using a small truck and a large truck. The carrying capacity and operating cost per load are given in the accompanying table. Bruce must deliver a minimum of 240 cubic yards per day to satisfy her contract with the builder. The union contract with her drivers requires that the total number of loads per day is a minimum of 8. How many loads should be made in each truck per day to minimize the total cost? Capacity (yd³) Cost per Load Small Truck Large Truck 40 $97 60 $70 In order to minimize the total cost, the number of loads in a small truck that should be made is and the number of loads in a large truck that should be made is
2.) Consider an M/M/2 system with an arrival rate of 9 per minute and a service rate of 8 per minute. What is the average time a customer spends in the system? Take your answer to three decimal places. Omit the units in your answer.
Refer to the production possibilities curves for Chairland and Tableland. Chairland can produce 36 chairs per day and no tables, or 18 tables table per day and no chairs. Tableland can produce 40 chairs per day and no tables, or 40 tables per day and no chairs. If the two countries split the difference between the buyer's willingness to pay for tables and the seller's willingness to accept, in terms of the number of chairs for 1 table, the terms of trade will be . (Enter your response rounded to one decimal place.) Country Quantity per day Opportunity cost of chairs Opportuity cost of tables Tableland 40 chairs, 40 tables 1 table 1 chair Chairland 36 chairs, 18 tables 1/2 table 2 chairs
32. A hardware company sells a lot of low-cost, highvolume products. For one such product, it is equallylikely that annual unit sales will be low or high. Ifsales are low (30,000), the company can sell theproduct for $20 per unit. If sales are high (70,000),a competitor will enter and the company will be ableto sell the product for only $15 per unit. The variablecost per unit has a 20% chance of being $10, a 60%chance of being $11, and a 20% chance of being $12.Annual fixed costs are $20,000.a. Use simulation to estimate the company’s expectedannual profit.b. Find a 95% interval for the company’s annualprofit, that is, an interval such that about 95% ofthe actual profits are inside it.c. Now suppose that annual unit sales, variable cost,and unit price are equal to their respective expectedvalues—that is, there is no uncertainty. Determinethe company’s annual profit for this scenario.d. Can you conclude from the results in parts a and cthat the expected profit from a simulation is…

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