(Subject: Linear programming) A small plastics company makes novelty figures for
ID: 671717 • Letter: #
Question
(Subject: Linear programming)
A small plastics company makes novelty figures for sale at political conventions. This spring the company has available 450 hr of labor and 825 spare units of plastic for use in the production of donkeys and elephants. Each elephant requires 2 hr of labor and 7 units of plastic; each donkey requires 5 hr of labor and 5 units of plastic. Elephants sell for $10 and up to 100 can be sold this summer. Donkeys sell for $7, with a market for 80. How many of each should the company produce to maximize income over the coming summer? Formulate a mathematical model and solve the problem.
Explanation / Answer
Cost, C = (variable cost) + (fixed cost)
Revenue, R = (price per dress) × (number sold)
Profit, P = (revenue) (cost)
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