A firm offers three different prices on its products, depending upon ti purchased. Since available resources are limited, the firm would like optimal production plan to maximize profits. Product 1 has the follow profitability: $10 each for the first 50 units, 89 cach for units 51-100 each unit over 100. Product 2's profitability is $20 each for the first each for units 26-50, and $18 each for each unit over 50. The produ require 3 raw materials to produce (see table below for usages and a quantities). Product 1 usage Raw Material Product 2 usage A B (pounds per unit) 5 12 1,000 (pounds per unit) 4 10 2,000 A-What type of model do you use to solve this problem? (2 Poin B - Why would you use the above model? (3 Points) C- Prepare an algebraic model of the problem. (5 Points) A firm offers three different prices on its products, depending upon the quantity purchased. Since available resources are limited, the firm would like to prepare an optimal production plan to maximize profits. Product 1 has the following profitability: $10 each for the first 50 units, 89 each for units 51-100, and S8 for each unit over 100. Product 2's profitability is $20 each for the first 25 units , $19 each for units 26-50, and $18 each for each unit over 50. The products each require 3 raw materials to produce (see table below for usages and available quantities). Product 1 usage Product 2 usage Available Quantity Raw Material A B (pounds per unit) 5 12 (pounds per unit) 4 10 (pounds) 7 6 1,500 CW 1,000 2,000 A - What type of model do you use to solve this problem? (2 Points) B-Why would you use the above model? (3 Points) C - Prepare an algebraic model of the problem. (5 Points) A firm offers three different prices on its products, depending upon ti purchased. Since available resources are limited, the firm would like optimal production plan to maximize profits. Product 1 has the follow profitability: $10 each for the first 50 units, 89 cach for units 51-100 each unit over 100. Product 2's profitability is $20 each for the first each for units 26-50, and $18 each for each unit over 50. The produ require 3 raw materials to produce (see table below for usages and a quantities). Product 1 usage Raw Material Product 2 usage A B (pounds per unit) 5 12 1,000 (pounds per unit) 4 10 2,000 A-What type of model do you use to solve this problem? (2 Poin B - Why would you use the above model? (3 Points) C- Prepare an algebraic model of the problem. (5 Points) A firm offers three different prices on its products, depending upon the quantity purchased. Since available resources are limited, the firm would like to prepare an optimal production plan to maximize profits. Product 1 has the following profitability: $10 each for the first 50 units, 89 each for units 51-100, and S8 for each unit over 100. Product 2's profitability is $20 each for the first 25 units , $19 each for units 26-50, and $18 each for each unit over 50. The products each require 3 raw materials to produce (see table below for usages and available quantities). Product 1 usage Product 2 usage Available Quantity Raw Material A B (pounds per unit) 5 12 (pounds per unit) 4 10 (pounds) 7 6 1,500 CW 1,000 2,000 A - What type of model do you use to solve this problem? (2 Points) B-Why would you use the above model? (3 Points) C - Prepare an algebraic model of the problem. (5 Points)
