Question
A manufacturer of two products (Widgets and Gadgets) makes a profit of $140 for each widget sold and $200 for each gadget sold. However, production
A manufacturer of two products (Widgets and Gadgets) makes a profit of $140 for each widget sold and $200 for each gadget sold. However, production of these products generates hazardous waste charges at the rate of 1W3 (where W is the number of Widgets produced) and 2G4 (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? (Round your answers to 1 decimal place.)
What is the maximum profit the manufacturer can earn? (Round your answer to 2 decimal places.)
A manufacturer of two products (Widgets and Gadgets) makes a profit of $140 for each widget sold and $200 for each gadget sold. However, production of these products generates hazardous waste charges at the rate of 1W3 (where W is the number of Widgets produced) and 24 (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? (Round your answers to 1 decimal place.) What is the maximum profit the manufacturer can earn? (Round your answer to 2 decimal places.)Step by Step Solution
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