A company produces three different products 1,2,3. Unit labor hours needed to produce one unit of...

 

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A company produces three different products 1,2,3. Unit labor hours needed to produce one unit of product, fixed cost of producing each product, and unit profits are given below. Labor hours Product-1 Product-2 2 1 Product-3 4 Fixed cost $300 $400 $700 Unit profit $50 $75 $90 The company's labor force provides 640 labor hours/day during regular working hours. Assume that all produced products can be sold. a) Formulate an integer linear programming model to maximize the daily profit. Clearly define decision variables and explain constraints. A company produces three different products 1,2,3. Unit labor hours needed to produce one unit of product, fixed cost of producing each product, and unit profits are given below. Labor hours Product-1 Product-2 2 1 Product-3 4 Fixed cost $300 $400 $700 Unit profit $50 $75 $90 The company's labor force provides 640 labor hours/day during regular working hours. Assume that all produced products can be sold. a) Formulate an integer linear programming model to maximize the daily profit. Clearly define decision variables and explain constraints.

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To formulate an integer linear programming model to maximize the daily profit for the company we need to define decision variables construct an object... View the full answer