In the example used to demonstrate model construction in this chapter (pp. 23 and 24), a firm
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In the example used to demonstrate model construction in this chapter (pp. 23 and 24), a firm sells a product, x, for $20 that costs $5 to make, it has 100 pounds of steel to make the product, and it takes 4 pounds of steel to make each unit. The model that was constructed is maximize Z = 20x - 5x subject to 4x = 100 Now suppose that there is a second product, y, that has a profit of $10 and requires 2 pounds of steel to make, such that the model becomes maximize Z = 15x + 10y subject to 4x + 2y = 100 Can you determine a solution to this new model that will achieve the objective? Explain your answer. LO.1
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