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Monash University delivers three courses: Microeconomics, Macroeconomics, and Finance. These products have the following resources requirements:...

Monash University delivers three courses: Microeconomics, Macroeconomics, and Finance. These products have the following resources requirements:

Course Cost/Unit Labour-Hours/Unit
Microeconomics $7.00 2
Macroeconomics $10.00 3
Finance $35.00 5


Monash University has a daily teaching budget of $5,000.00 and a maximum budget of 800 hours of labour. Selling prices are $15.00, $25.00 and $55.00 respectively. Maximum daily customer demand for Finance course is 100 units. The University desires to know the optimal product mix that will maximize profit. Formulate a linear programming model for this problem.

Math   Statistics-And-Probability   
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