quantities of resources used to produce a car and truck. Below are the restrictions on this. Accordingly, how much of which vehicle should the business produce to achieve the highest profit? Time Humanforce Raw material Profit (USD) Car Truck 2 3 2 1 3 3 300 400 Solution 24 16 33

Principles of Management
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Chapter2: Managerial Decision-making
Section2.5: Improving The Quality Of Decision-making
Problem 1CC: Explain what satisficing is and when it may be a good strategy.
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1. Carco manufactures cars and trucks. Each car
contributes 300 USD to profit, and each truck
contributes 400 USD to profit. The table gives the
quantities of resources used to produce a car and
truck. Below are the restrictions on this. Accordingly,
how much of which vehicle should the business
produce to achieve the highest profit?
Time
Humanforce
Raw material
Profit (USD)
Quantitative Decision-M
Car
2
2
3
300
Truck Solution
3
1
3
400
24
16
33
Transcribed Image Text:1. Carco manufactures cars and trucks. Each car contributes 300 USD to profit, and each truck contributes 400 USD to profit. The table gives the quantities of resources used to produce a car and truck. Below are the restrictions on this. Accordingly, how much of which vehicle should the business produce to achieve the highest profit? Time Humanforce Raw material Profit (USD) Quantitative Decision-M Car 2 2 3 300 Truck Solution 3 1 3 400 24 16 33
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