Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sleak Teak builds yard furniture, using domestic hardwoods and handcrafted knick-knacks from the same sorts of wood. Although hardwoods were readily available in the past,

Sleak Teak builds yard furniture, using domestic hardwoods and handcrafted knick-knacks from the same sorts of wood. Although hardwoods were readily available in the past, recently they have been much more difficult to obtain. Consultation with the plant managers of the two lines has resulted in the following production functions for hardwood usage in the two products:

Yard furniture Y = 2Ty - .001Ty2

Knick knack K = 20Tk - .01Tk2

Where Y = units of furniture K = units of knick-knacks, Ty = teak used in yard furniture and Tk = teak used in knick-knacks.

Yard furniture can be sold at a profit of $150 per unit, and knick-knacks can be sold at a profit of $75 each.Sleak Teak has 1,300 units of teak available. Calculate how many units of teak should be allocated to each product.Explain your results.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Marketing

Authors: Shane Hunt

3rd Edition

1260800458, 9781260800456

More Books

Students also viewed these Economics questions

Question

Wear as little as possible

Answered: 1 week ago

Question

Be relaxed at the hips

Answered: 1 week ago