Question

A firm produces three products: A, B, and C. Each requires 3 resources in the production...

A firm produces three products: A, B, and C. Each requires 3 resources in the production process: 1, 2, and 3. There are 15,000, units of resource 1 available. There are 17,000 units of resource 2 available. There are 19,000 units of resource 3 available. Product A requires 4 units of resource 1, 3 units of resource 2, and 5 units of resource 3. Product B requires 7 units of resource 1, 6 units of resource 2, and 5 units of resource 3. Product C requires 6 units of resource 1, 5 units of resource 2, and 4 units of resource 3. Product A has a net per unit profit of $125, product B has a net per unit profit of $150, and product C has a net per unit profit of $225. We must make at least 500 units of each product. However, we must not make more than 1,200 units of each product. Including each specific equation, how many constraints are there in this problem as if you were using solver on excel? Also if the goal of the firm is to maximize profits, how many units of product A, B, and C should be produced?

Math   Statistics-And-Probability   
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Homework Answers

Answer #1

There are 5 constraints in this problem.

The solver parameters are:

The solution is:

The solution is:

A = 0

B = 0

C = 1200

Z = 270000

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