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d . What is the marginal value ( shadow price ) of machine time? e . What impact would decreasing labor by 30 have on
d What is the marginal value shadow price of machine time? e What impact would decreasing labor by have on overall profit? A garden store prepares various grades of pine bark for mulch: nuggets, mininuggets, and chips, with profits of $ $ and $ per bag respectively. The mulching process requires pine bark pounds available machine time minutes available labor time minutes available Each bag of nuggets requires pounds of bark, minutes of machine time and minutes of labor. Each bag of mininuggets requires pounds of bark, minutes of machine time and minutes of labor. Each bag of chips requires pounds of bark, minutes of machine time and minutes of labor. The garden store is committed to producing at least bags of chips, and bags of mininuggets. a How many bags of each type of mulch should be made to maximize profit? Nuggets mininuggets chips b What is the optimal profit? c For this solution, what is the marginal value shadow price of a pound of pine bark?
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