Wild West produces two types of cowboy hats. A Type 1 hat requires twice as much...
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Wild West produces two types of cowboy hats. A Type 1 hat requires twice as much labor time as a Type 2. If all the available labor time is dedicated to Type 2 alone, the company can produce a total of 400 Type 2 hats a day. The respective market limits for Type 1 and Type 2 are 150 and 200 hats per day, respectively. The profit is $8 per Type 1 hat and $5 per Type 2 hat. Determine the number of hats of each type that maximizes profit. Wild West produces two types of cowboy hats. A Type 1 hat requires twice as much labor time as a Type 2. If all the available labor time is dedicated to Type 2 alone, the company can produce a total of 400 Type 2 hats a day. The respective market limits for Type 1 and Type 2 are 150 and 200 hats per day, respectively. The profit is $8 per Type 1 hat and $5 per Type 2 hat. Determine the number of hats of each type that maximizes profit.
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Answer Optimum output mix is Type 1 hats 100 hats Type 2 hats 200 hats Solution From the given data ... View the full answer
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