Maxwell Manufacturing makes two models of felt tip marking pens. Requirements for each lot of pens are given below. The profit for either model is $1000 per lot.     Fliptop Model Tiptop Model Available Plastic 3 4 36 Ink Assembly 5 4 40 Molding Time 5 2 30   Formulate a LP Model for this problem.

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A: Step 1: Step 2: Step 3: Step 4:

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Optimization Models

Optimization models are mathematical models that help organizations determine the best way to allocate scarce resources to achieve specific objectives. These models can be used to solve a wide variety of problems, from finding the most efficient route for a delivery truck to determining the optimal mix of products to stock in a store.