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Business and Economic Techniques. Please help me with this extended response homework question. Please show all working/steps. You won a big contract to consult a
Business and Economic Techniques. Please help me with this extended response homework question. Please show all working/steps.
You won a big contract to consult a company that runs a jewellery store that makes necklaces and bracelets from gold and platinum. The store has 18 units of gold and 20 units of platinum. Each necklace requires 3 units of gold and 2 units of platinum, whereas each bracelet requires 2 units of gold and 4 units of platinum. The demand for bracelets is no more than four. A necklace earns $300 in profit and a bracelet earns $400. The store wants you to determine the number of necklaces and bracelets it needs to make to maximize profit. c. The maximum demand for bracelets is 4 . If the store produces the optimal number of bracelets and necklaces, will the maximum demand for bracelets be met? If not, by how much will it be missed? (10 marks)Step by Step Solution
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