Continuing the previous problem (the model in part a) one step further, assume that shirts and ties
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Continuing the previous problem (the model in part a)
one step further, assume that shirts and ties are also complementary. Specifically, assume that each time a shirt is purchased (and is not accompanied by a suit purchase), 1.3 ties, on average and regardless of the price of ties, are also purchased. Modify the model from part a of the previous problem to find the prices of suits, shirts, and ties to maximize overall profit.
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Related Book For
Practical Management Science, Revised
ISBN: 9781118373439
3rd Edition
Authors: Wayne L Winston, S. Christian Albright
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