Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The optimal solution is to produce 320 tables and 360 chairs for a maximum profit of $4,040. The constraint on the number of chairs is
The optimal solution is to produce 320 tables and 360 chairs for a maximum profit of $4,040. The constraint on the number of chairs is that a maximum of 450 chairs can be produced. In the optimal solution, 360 chairs are produced. The slack for the nonbinding constraint is the 450 360 or 90. The optimality of the corner point will not change if the production level of chairs is increased beyond 450. The slack will increase as the right-hand side (RHS) constraint for the chairs increases. If the company decreases the constraint of 450 chairs to make the production limit more restrictive, the corner point is feasible and optimal as long as the production of 360 chairs is still permitted. The optimal corner point remains optimal as long as the slack is within 90 chairs. If the production level is reduced to lower than 360 chairs, the corner point is no longer feasible, and a new corner point becomes optimal
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started