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2. Geniue Antique Egyptian Artifacts, Inc. produces three varieties of antique artifacts for sale to tourists: statuettes, lamps, and urns. All of the artifacts
2. Geniue Antique Egyptian Artifacts, Inc. produces three varieties of antique artifacts for sale to tourists: statuettes, lamps, and urns. All of the artifacts include special tlay. A statuette requires 13 ounces of clay, a lamp uses 18 ounces, and each urn takes 17 ounces. Existing capacity of clay is 28,000 ounces per month. A special material is also used to produce the three artifacts, with each statuette needing 0.8 ounces, each lamp 0.7 ounces, and a typical urn requiring 1.0 ounces. The company has inventory of 1,200 ounces of special material per month. The owner of the company wishes to maintain a balanced marketing program, and has ordered that production of statuettes to be limited to 275. The overall per unit profit for artifacts is the following: $199 per statuette, $99 per lamp, and $145 per urn. The owner wants to know how much of each type of antique to fabricate monthly in order to optimize profit. a. Formulate and present a linear programming model for this problem using decision variables, objective function, and constraints. b. Solve the linear program developed in part (a), to determine the optimal production plan.
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