1. A manufacturer produces Maggie and Oreo. It takes 1 hour of work on machine A...
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1. A manufacturer produces Maggie and Oreo. It takes 1 hour of work on machine A and 3 hours on machine B to produce a package of Maggie. It takes 3 hours on machine A and 1 hour on machine B to produce a package of Oreo. He earns a profit of Rs 17.50 per package on Maggie and Rs 7.00 per package on Oreo. How many packages of each should be produced each day so as to maximize his profit, if he operates his machines for at the most 12 hours a day? 2. 3. What do you understand by linear programming problem? Explain the following terminologies in terms of any case of Industry or a firm: - Critically explain the Shadow Price under Linear Programming Problem how it connects with the business or economic resources allocation and bring the inefficiency in the production, elaborate with the suitable example. a. Objective function b. Feasible region c. Non-negativity d. Constraint 4. Critically explain the time series and cross-sectional data analysis with suitable illustrations related to the economic or business problem. 1. A manufacturer produces Maggie and Oreo. It takes 1 hour of work on machine A and 3 hours on machine B to produce a package of Maggie. It takes 3 hours on machine A and 1 hour on machine B to produce a package of Oreo. He earns a profit of Rs 17.50 per package on Maggie and Rs 7.00 per package on Oreo. How many packages of each should be produced each day so as to maximize his profit, if he operates his machines for at the most 12 hours a day? 2. 3. What do you understand by linear programming problem? Explain the following terminologies in terms of any case of Industry or a firm: - Critically explain the Shadow Price under Linear Programming Problem how it connects with the business or economic resources allocation and bring the inefficiency in the production, elaborate with the suitable example. a. Objective function b. Feasible region c. Non-negativity d. Constraint 4. Critically explain the time series and cross-sectional data analysis with suitable illustrations related to the economic or business problem.
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1 To solve this linear programming problem we can set up the following objective function and constraints Let x be the number of packages of Maggie produced Let y be the number of packages of Oreo pro... View the full answer
Related Book For
Cornerstones of Managerial Accounting
ISBN: 978-0176530884
2nd Canadian edition
Authors: Maryanne M. Mowen, Don Hanson, Dan L. Heitger, David McConomy, Jeffrey Pittman
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