Question
A manufacturer of two products (Widgets and Gadgets) makes a profit of $190 for each widget sold and $120 for each gadget sold. However, the
A manufacturer of two products (Widgets and Gadgets) makes a profit of $190 for each widget sold and $120 for each gadget sold. However, the production of these products generates hazardous waste charges at the rate of $2W3 (where W is the number of Widgets produced) and $1G2 (where G is the number of Gadgets produced). The manufacturer has ample supplies of all raw materials and can sell all the Widgets and Gadgets it produces. The firm has sufficient capacity to produce any realistic quantity of both products.
What is the optimal quantity of each product to produce?
Note: Round your answers to 1 decimal place.
What is the maximum profit the manufacturer can earn?
Note: Round your answer to 2 decimal places.
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