You work for the Brad's Nailer Company which manufactures three types of nailers: a pneumatic model, the "ProLine", and a cordless model. You havecontracted to supply a national retail chain with all three models of nailers. However, Brad's nailer production capability is limited in threedepartments: production, testing, and packaging. The goal is to maximize your revenue.Your answer will be the number of ProLine nailers to be produced (The number of nailers may not be a whole number, which is acceptable in thischapter.)Use Scenario 2Pneum. Sales PricePneum. Prod HrsPneum. Test HrsPneum. Pkg HrsPneum. SalesProLine Sales PriceProLine Prod HrsProLine Test HrsProLine Pkg HrsProLine SalesCordless Sales PriceCordless Prod HrsCordless Test HrsCordless Pkg HrsCordless SalesProd Hrs maxTesting Hrs maxPkg Hrs maxScenario 1460.250.40.121,000710.30.5280.21,500590.250.40.115,00024,50016,0004,800Scenario 255.500.40.30.120,00079.950.40.50.21,25064.950.250.40.112,00014,00016,0005,000Scenario 338.500.250.40.118,00059.950.40.50.15,75049.500.30.40.112,00014,00019,0004,500

Linear programming is a mathematical technique that is also used in operations management…

You work for the Brad's Nailer Company which manufactures three types of nailers: a pneumatic model, the "ProLine", and a cordless model. You have contracted to supply a national retail chain with all three models of nailers. However, Brad's nailer production capability is limited in three departments: production, testing, and packaging. The goal is to maximize your revenue. Your answer will be the number of ProLine nailers to be produced (The number of nailers may not be a whole number, which is acceptable in this chapter.)

You work for the Brad's Nailer Company which manufactures three types of nailers: a pneumatic model, the "ProLine", and a cordless model. You have contracted to supply a national retail chain with all three models of nailers. However, Brad's nailer production capability is limited in three departments: production, testing, and packaging. The goal is to maximize your revenue. Your answer will be the number of ProLine nailers to be produced (The number of nailers may not be a whole number, which is acceptable in this chapter.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: You have been hired as a business analyst for Seko, an information technology company. The manager…

A: Every business is driven by profit motive. So, the sole objective of a firm or a business is to…

Q: John Deere, an American agricultural machinery company based in Illinois, has hired you as a…

A: Due to retaliatory tariffs US send is being hit and doing down so because the deals in optional…

Q: You are thinking about becoming a Paradise Coffee franchisee. Franchisees are offered a business…

A: Implicit cost are also known as opportunity costs which is the forgone income. The explicit cost is…

Q: You are an analyst at a chipmaking company that is part of a supply chain that involves chipmaking…

Q: Hansel has been making a cuckoo wristwatch, which he sells over the web. Customers are willing to…

A: Optimal quality is the level of quality that increases customers' satisfaction and firms' profit. To…

Q: This year is expected to be a great one for selling walking shoes in Georgia. At very low prices,…

A: A market is a place where the buyers and sellers interact with each other and the exchange of goods…

Q: Q. Gamma Corporation, one of the firms that retains you as a financial analyst, is considering…

A: The question is based on the notion of resource allocation in economics, with a special emphasis on…

Q: As the manager of Smith Construction, you need to make a decision on the number of homes to build in…

A: Demand function refers to the willingness to buy, consume, or pay for a certain good or service by…

Q: The number of clients Aliyah can take on depends on the number of workers she hires as shown in the…

A: Marginal Cost is the additional cost that the producer incurs in order to produce an additional unit…

Q: This year is expected to be a great one for selling walking shoes in Georgia. At very low prices,…

A: Market supply refers to the total quantity of a specific good or service that all suppliers or…

Q: Manchester United TV Subscription (annual) Value to a non-Manchester United soccer fan Value to…

A: Profit portrays the financial advantage acknowledged when revenue produced from a business action…

Q: Suppose you are the manager of an Agriculture company that sells “commodities” in a perfect…

A: A firm in perfect competition are price takers because they sell homogeneous goods. This means they…

Q: You are managing a competitive corn farm that faces random demand. You must decide how much corn to…

A: A competitive producer is optimizes its profit and output at the level where marginal cost is equal…

Q: Total

A: Calculate the average variable cost to produce 1 unit of PC as follows:Average variable cost =…

Q: India’s Tata Motors was moving forward with a strategy focused on small inexpensive cars, even…

A: As people's expectations continue to rise, Tata is committed to developing a compact vehicle that…

Q: Make yourself CEO of this hypothetical company. Big Time Entertainment - Big Time Entertainment is…

A: Because 1.6>1 Therefore demand is relatively elastic. PED=percent change in quantity…

Q: As the manager of Smith Construction, you need to make a decision on the number of homes to build in…

A: Profit refers to the financial benefit received when the revenue generated from commercial…

Q: You are the manager of a firm that sells a "commodity" in a market that resembles perfect…

A: Expected price is the price for a good in the market that consumers and producers expect depending…

Q: Donald is a small-scale orange juice producer, and he has a small orange juice producing factory in…

A: The term "value-added" describes the economic enhancement a company gives its products or services…

Q: In early 2008, you purchased and remodeled a 120-room hotel to handle the increased number of…

A: Break-even examination/analysis involves ascertaining and looking at the margin of wellbeing for a…

Q: As manager of the St. Cloud Theatre Company, you have decided that concession sales will support…

A: Let the amount sold for break even be 'x ' Total Cost = Fixed Cost + Variable Cost Variable Cost =…

Q: Short Grass Incorporated is a distributor of golf balls. Martin's Golf Supplies is a local retail…

A: **Calculating Economic Order Quantity (EOQ)**To find the economic order quantity (EOQ), we will…

Q: In which of the following situations would the supplier have the greatest power to hurt a business…

A: The supplier's initiative to show his sensitivity to the needs of the client marks the beginning of…

Q: Redleaf company's market research department works on the manufacture and marketing of a winter tire…

A: A revenue function is a mathematical formula that shows the total amount of money a business earns…

Q: Explain to your Board of Directors why management should be worried about a rise in the price of…

A: To analyse the impact of price of groundnuts on the demand of beans, we should know the cross-price…

Q: A firm produces two goods, A and B. Due to the product A’s fall in popularity near the end of last…

A: Demand refers to a consumer's desire for a commodity that they are willing and able to afford given…

Q: Assume a company expects to sell 6 million packages of Pop-Tarts Gone Nutty! in the first year after…

A: Cost is the value of money that has been used up to produce something or deliver a service, and…

Concept explainers

Financial Statements

Financial statements (or financial reports) are the formal records of the financial activities that are undertaken by a firm. They are convenient instruments used for analyzing a company’s financial position and performance. Financial ratios are created with the help of the numerical values that are derived from the financial statements. They give meaningful information about the financial performance of the company.

Question

You work for the Brad's Nailer Company which manufactures three types of nailers: a pneumatic model, the "ProLine", and a cordless model. You have
contracted to supply a national retail chain with all three models of nailers. However, Brad's nailer production capability is limited in three
departments: production, testing, and packaging. The goal is to maximize your revenue.
Your answer will be the number of ProLine nailers to be produced (The number of nailers may not be a whole number, which is acceptable in this
chapter.)
Use Scenario 2
Pneum. Sales Price
Pneum. Prod Hrs
Pneum. Test Hrs
Pneum. Pkg Hrs
Pneum. Sales
ProLine Sales Price
ProLine Prod Hrs
ProLine Test Hrs
ProLine Pkg Hrs
ProLine Sales
Cordless Sales Price
Cordless Prod Hrs
Cordless Test Hrs
Cordless Pkg Hrs
Cordless Sales
Prod Hrs max
Testing Hrs max
Pkg Hrs max
Scenario 1
46
0.25
0.4
0.1
21,000
71
0.3
0.5
28
0.2
1,500
59
0.25
0.4
0.1
15,000
24,500
16,000
4,800
Scenario 2
55.50
0.4
0.3
0.1
20,000
79.95
0.4
0.5
0.2
1,250
64.95
0.25
0.4
0.1
12,000
14,000
16,000
5,000
Scenario 3
38.50
0.25
0.4
0.1
18,000
59.95
0.4
0.5
0.1
5,750
49.50
0.3
0.4
0.1
12,000
14,000
19,000
4,500

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1 Introduction:-

VIEW

Step 2 Forming LP:-

VIEW

Step 3 Solving using excel:-

VIEW

Step 4 ANSWER:-

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 4 steps with 5 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

You manufacture ceramic lawn ornaments. After several months your accountant tells you that your profit P(n) can be modeled by the function P(n)= -0.002n^2+5.2n-1208 where n is number of ornaments sold each month. A) How many ornaments must you make and sell to break even. B) How many ornaments must you make and sell to maximize profit. C) What is the maximum profit. D) How many ornaments must you make and sell in order to earn a profit of $1657.
You are the County Commissioner of Hazard County. Recently a severe wave of storms swept across Hazard County, spawning several tornadoes and creating a wide path of mayhem. The citizens of Hazard County are demanding that you do something to protect them. You decide to install some early warning tornado sirens. However, there is no money left in the county budget, so you ask each citizen to donate some money to build the system. Many citizens donate money to help build the warning system; however, Ms. Nancy, who is wealthy, decides she is not going to donate. The early warning sirens are an example of a and Ms. Nancy represents a Public goods are in rivalry and in excludability. What approach would be the least effective way to deal with free riders? OA. Appeal to their civic sense of responsibility. OB. Exclude citizens from benefiting from the good or service. OC. Threaten to expose the free riders to their neighbors. OD. Offer citizens a favor or a small gift if they agree not to…
Four companies (Firm 1, 2, 3 and 4) are producing a product for the market. Each company will decide the number of products produced. You are given that • . Each firm can choose its qi. Given the quantites produced by four companies (denoted by 91, 92, 93, 94 respectively), the market price of the product is P = 400 - 91-92-93 - 94. Cost of producing one product is 20 (*Note: So the total cost for producing qi units of product is 20qi. Firm 1 and Firm 2 will first decide the quantities produced simultaneously at the beginning. After knowing 91 and 92, Firm 3 and Firm 4 will decide the quantities produced simultaneously. (a) State the strategic profiles of each firm. (b) Find all possible subgame perfect equilibrium for this games. Provide full justification to your answer.
A pizza shop sells two types of pizzas: Chicago-style and New York-style. The owner makes $8.00 Profit on each Chicago- style pizza pie & $5.50 Profit on each New York-style pizza pie. The owner would love to sell an unlimited amount of pizza but unfortunately they are limited by two production constraints: Prep Time and Cook Time. Each Chicago-style pizza requires 4 minutes of Prep Time, each New York-style pizza requires 3 minutes of Prep time, and there is only 600 minutes of Prep Time available. Each Chicago-style pizza requires 5 minutes of Cook Time, each New York-style pizza requires 2.5 minutes of Cook Time, and there is only 550 minutes of Cook Time available. Based on the profit contributions & constraints given in the information above, what is the pizza shop's expected profit if it produces at the optimal amount? $800 $1120 $1560 $1100 O $1320
You are the manager of a firm that sells a “commodity” in a market that resembles perfect competition, and your analytics team estimates that your cost function is C(Q) = 2Q + 2Q2. Unfortunately, due to production lags, you must make your output decision prior to knowing for certain the price that will prevail in the market. You believe that there is a 65 percent chance the market price will be $200 and a 35 percent chance it will be $400. Calculate the expected market price. $ What output should you produce in order to maximize expected profits? units What are your expected profits? $