3. Chemco produces two products: product 1 and product 2. Each ounce of raw material costs...

Transcribed Image Text:

3. Chemco produces two products: product 1 and product 2. Each ounce of raw material costs c dollars. Each ounce of raw material can be processed to yield 3 oz of product 1 OR 1 oz of product 2. In addition, 1 oz of product 2 can also be produced by further processing 2 oz product 1. At most d ounces of prod- uct 1 can be sold for by dollars per oz. Product 2 has an unlimited demand, and each ounce can be sold for b₂ dollars. Formulate and LP that can be used to determine how to maximize Chemco's profit. Decision variables: Parameters (if used): Objective function (math and its simple, short description): (maximize profit) Constraints (math and their respective simple, short description): 3. Chemco produces two products: product 1 and product 2. Each ounce of raw material costs c dollars. Each ounce of raw material can be processed to yield 3 oz of product 1 OR 1 oz of product 2. In addition, 1 oz of product 2 can also be produced by further processing 2 oz product 1. At most d ounces of prod- uct 1 can be sold for by dollars per oz. Product 2 has an unlimited demand, and each ounce can be sold for b₂ dollars. Formulate and LP that can be used to determine how to maximize Chemco's profit. Decision variables: Parameters (if used): Objective function (math and its simple, short description): (maximize profit) Constraints (math and their respective simple, short description):

Answer rating: 100% (QA)

x number of ounces of raw material y1 number of ounces of product 1 y2 number of ounc... View the full answer