A company uses raw material to produce two products. For $175, a unit of raw material can be purchased and processed into 3 units of product 1 and 4 units of product 2. If x1 units of product 1 are pro- duced, they can be sold at 300 2 x1 dollars per unit. If x2 units of product 2 are produced, they can be sold at 160 2 x2 dollars per unit. (Negative prices are not per- mitted.) The company can choose the number of units of raw material that are purchased and processed. How can the company maximize its profit?
A company uses raw material to produce two products. For $175, a unit of raw material can be purchased and processed into 3 units of product 1 and 4 units of product 2. If x1 units of product 1 are pro- duced, they can be sold at 300 2 x1 dollars per unit. If x2 units of product 2 are produced, they can be sold at 160 2 x2 dollars per unit. (Negative prices are not per- mitted.) The company can choose the number of units of raw material that are purchased and processed. How can the company maximize its profit?
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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A company uses raw material to produce two products. For $175, a unit of raw material can be purchased and processed into 3 units of product 1 and 4 units of product 2. If x1 units of product 1 are pro- duced, they can be sold at 300 2 x1 dollars per unit. If x2 units of product 2 are produced, they can be sold at 160 2 x2 dollars per unit. (Negative prices are not per- mitted.) The company can choose the number of units of raw material that are purchased and processed. How can the company maximize its profit?
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