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R(h,s)=200h0,5s0,5, where h is hours of labour and s is tons of steel. Your total budget is €37950, what is the maximum possible revenue you could earn?

R(h,s)=200h0,5s0,5, where h is hours of labour and s is tons of steel. Your total budget is €37950, what is the maximum possible revenue you could earn?

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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Suppose that you are running a factory, producing parts for cars that require steel as raw material. Your costs are predominantly human labour, which is €20/hour for your workers, and steel itself, which runs for €170/ton. Suppose that your revenue R is described as follows:

R(h,s)=200h0,5s0,5, where h is hours of labour and s is tons of steel. Your total budget is €37950, what is the maximum possible revenue you could earn?

 

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