Question: Based on Bean et al 1988 The owner of a
Based on Bean et al. (1988). The owner of a shopping mall has 10,000 square feet of space to rent and wants to determine the types of stores that should occupy the mall. The minimum number and maximum number of each type of store and the square footage of each type are given in the file S14_103.xlsx. The annual profit made by each type of store depends on the number of stores of that type in the mall. This dependence is given in the same file, where all profits are in units of $10,000. For example, if there are two department stores in the mall, each department store will earn $210,000 profit per year. Each store pays 5% of its annual profit as rent to the owner of the mall. Determine how the owner of the mall can maximize its rental income.
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