Question: On her first engineering job, Joy Hayes was given the responsibility of determining the production rate for a new product. She has assembled data as

On her first engineering job, Joy Hayes was given the responsibility of determining the production rate for a new product. She has assembled data as indicated on the two graphs:

(a) Select an appropriate economic criterion and estimate. The production rate based upon it.
(b) Joy's boss told Joy: "I want you to maximize output with minimum input." Joy wonders if it is possible to achieve her boss's criterion. She asks your advice. What would you tell her?

$2000- $1900 1800 $1700 1600 $1500 $1300 $1200 $1100 $1000 $900 800 $700 S600 $500-- $400 830 . . $200 $100 0 50 100 1S0 200 250 Output (units/hr) $16 515 S14 SS13 $10 s , ,.. 0 50 100 0 200 250 Output (unis/hr)

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