Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. A company produces three different products (A,B,C). According to the previous order experiences, everybody, who buys product A, also buys product B. Because of

image text in transcribed 1. A company produces three different products (A,B,C). According to the previous order experiences, everybody, who buys product A, also buys product B. Because of this situation, the company wants to produce A and B with the same quantity. All of the products are produced by using gold and product A needs 5 grams of gold, product B needs 8 grams of gold, product C needs 7 grams of gold. However, the company has only 0.5 kilogram of gold and storage space limit for the products. Total storage space of the company is 100 units and it is known that it can be completely filled. Produced one unit of product A uses 4 units of storage space, one unit of product B uses 1 units of storage space, one unit of product C uses 3 units of storage space. The costs for the production of each product is 5$2$ and 6 \$ respectively (A, B, C). Formulate a Linear Programming Model for the company to find the optimum production quantities of the products. (30P)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Entrepreneurial Small Business

Authors: Jerome Katz, Richard Green

4th edition

78029422, 978-0077513009, 77513002, 978-0078029424

More Books

Students also viewed these General Management questions