A carpenter builds and sells her own chairs and beds. To build a chair it takes...

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A carpenter builds and sells her own chairs and beds. To build a chair it takes 6m? of wood and 12m2 of fabric. To build a bed it takes 1Om? of wood and 9m? of fabric. The price of wood and fabric are £12 and £18 per m², respectively. The carpenter buys 84 m2 of wood and 108 m² of fabric each month. The selling price of a chair is £300 and for a bed it is £310. What number of chairs and beds should the carpenter build each month to maximise her profit? Calculate any possible shadow prices. [10 marks] A carpenter builds and sells her own chairs and beds. To build a chair it takes 6m? of wood and 12m2 of fabric. To build a bed it takes 1Om? of wood and 9m? of fabric. The price of wood and fabric are £12 and £18 per m², respectively. The carpenter buys 84 m2 of wood and 108 m² of fabric each month. The selling price of a chair is £300 and for a bed it is £310. What number of chairs and beds should the carpenter build each month to maximise her profit? Calculate any possible shadow prices. [10 marks]

Answer rating: 100% (QA)

Given to build a chair wood 6m 2 fabric 12m 2 To build a bed Wood 10m 2 Fabric 9m 2 Price of wood 12 ... View the full answer