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Use 55 for Widgets and 4.2 for Gadgets A manufacturer of two products (Widgets and Gadgets) makes a profit of $110 for each widget sold
Use 55 for Widgets and 4.2 for Gadgets
A manufacturer of two products (Widgets and Gadgets) makes a profit of $110 for each widget sold and $110 for each gadget sold. However, production of these products generates hazardous waste charges at the rate of 1w2 (where W is the number of Widgets produced) and 2G3 (where G is the number of Gadgets produced). The manufacturer has ample supplies of all raw materials and can sell all the Widgets and Gadgets it produces. The firm has sufficient capacity to produce any realistic quantity of both products. What is the optimal quantity of each product to produce? (Round your answers to 1 decimal place.) Answer is complete and correct. 55.0Widgetsand What is the maximum profit the manufacturer can earn? (Round your answer to 2 decimal places.)Step by Step Solution
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