Al Shamil Generator Factory is manufacturing three types of generators in the production line for this month: normal units, automatic units and dual units, the selling price of these products reached $ 500, $ 750 and $ 980, respectively, and these products cost raw materials $ 200, $ 300 and $ 400, respectively. Labor costs $ 100, $ 200, $ 250. And the demand for dual units does not exceed 30 units per month. And the normal demand is at least 90 units per month. And the demand for the automatic is 150 units per month at the most. The employment item for this month was $ 850,000. And the item of raw materials is one million dollars. Find the function and the linear model that achieves the lowest cost ??
Al Shamil Generator Factory is manufacturing three types of generators in the production line for this month: normal units, automatic units and dual units, the selling price of these products reached $ 500, $ 750 and $ 980, respectively, and these products cost raw materials $ 200, $ 300 and $ 400, respectively. Labor costs $ 100, $ 200, $ 250. And the demand for dual units does not exceed 30 units per month. And the normal demand is at least 90 units per month. And the demand for the automatic is 150 units per month at the most. The employment item for this month was $ 850,000. And the item of raw materials is one million dollars. Find the function and the linear model that achieves the lowest cost ??
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Al Shamil Generator Factory is manufacturing three types of generators in the production line for this month:
normal units, automatic units and dual units, the selling price of these products reached $ 500, $ 750 and $ 980, respectively, and these products cost raw materials $ 200, $ 300 and $ 400, respectively. Labor costs $ 100, $ 200, $ 250.
And the demand for dual units does not exceed 30 units per month. And the normal demand is at least 90 units per month. And the demand for the automatic is 150 units per month at the most.
The employment item for this month was $ 850,000.
And the item of raw materials is one million dollars.
Find the function and the linear model that achieves the lowest cost ??
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education