Construct a mathematical model in the form of a linear programming problem. Then solve the problem by
Question:
Construct a mathematical model in the form of a linear programming problem. Then solve the problem by the simplex, dual problem, or big M methods.
A company blends long-grain rice and wild rice to produce two brands of rice mixes: brand A, which is marketed under the company’s name, and brand B, which is marketed as a generic brand. Brand A must contain at least 10% wild rice, and brand B must contain at least 5% wild rice. Long-grain rice costs $0.70 per pound, and wild rice costs $3.40 per pound. The company sells brand A for $1.50 a pound and brand B for $1.20 a pound. The company has 8,000 pounds of long-grain rice and 500 pounds of wild rice on hand. How should the company use the available rice to maximize its profit? What is the maximum profit?
Step by Step Answer:
Finite Mathematics For Business Economics Life Sciences And Social Sciences
ISBN: 9780134862620
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker