Student Enterprises sells two sizes of wall posters, a large 3- by 4-foot poster and a smaller 2- by 3-foot poster. The profit earned from the sale of each large poster is $3; each smaller poster earns $2. The firm, although profitable, is not large; it consists of one art student, Jan Meising, at the University of Kentucky. Because of her classroom schedule, Jan has the following weekly constraints: (1) up to three large posters can be sold, (2) up to five smaller posters can be sold, and (3) up to 10 hours can be spent on posters during the week, with each large poster requiring 2 hours of work and each smaller one taking 1 hour. With the semester almost over, Jan plans on taking a 3-month summer vacation to England and doesn’t want to leave any unfinished posters behind. Find the integer solution that will maximize her profit.

Let number of large posters : X1 Let number of small posters : X2 Maximize Profit, Z = 3 X1 + 2 X2…

Answered: Student Enterprises sells two sizes of…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Student Enterprises sells two sizes of wall posters, a large 3- by 4-foot poster and a smaller 2- by 3-foot poster. The profit earned from the sale of each large poster is $3; each smaller poster earns $2. The firm, although profitable, is not large; it consists of one art student, Jan Meising, at the University of Kentucky. Because of her classroom schedule, Jan has the following weekly constraints: (1) up to three large posters can be sold, (2) up to five smaller posters can be sold, and (3) up to 10 hours can be spent on posters during the week, with each large poster requiring 2 hours of work and each smaller one taking 1 hour. With the semester almost over, Jan plans on taking a 3-month summer vacation to England and doesn’t want to leave any unfinished posters behind. Find the integer solution that will maximize her profit.

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