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Recall the production model: Max 10x s.t. 5x S 40 x 20 Suppose the firm in this example considers a second product that has a
Recall the production model: Max 10x s.t. 5x S 40 x 20 Suppose the firm in this example considers a second product that has a unit profit of $5 and requires 2 hours of labor time for each unit produced. Use y as the number of units of second product produced. (a) Show the mathematical model when both products are considered simultaneously. Max s.t. x2 0, y 20 (b) Identify the controllable and uncontrollable inputs for this model. (Select all that apply.) (i) controllable O X O y labor hours labor availability O unit profit (ii) uncontrollable 0 X O y labor hours labor availability O unit profit (c) Draw the flowchart of the input-output process for this model. (Submit a file with a maximum size of 1 MB.)
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