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You work at a local furniture manufacturer that specializes in producing chairs and tables. Each table requires 4 units of wood and 3 hours to
You work at a local furniture manufacturer that specializes in producing chairs and tables. Each table requires 4 units of wood and 3 hours to produce. Each chair required 2 units of wood and 1 hour to produce. Wood costs $10 per unit and labor costs $8 per hour. You can sell each table for $100 and each chair for $20. You can purchase at most 1,000 hours of labor per week. For contractual reasons, you must make at least twice as many chairs as tables. Setup the spreadsheet optimization model. How many chairs and tables will you produce to maximize profits? What is the maximum possible profit given the constants? What is the maximum total hourly wage we would be willing to pay for one additional hour of time
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