Question: A manufacturer produces three models ( A , B , and C ) of a certain product using iron and copper as raw materials. The

A manufacturer produces three models (A, B, and C) of a certain product using iron and copper as
raw materials. The following table shows the amount of raw material required in the production of
each model and the total amount of raw material available.
Requirements per unit (lb)
Raw material A B C Availability (lb)
Iron 2354000
Copper 4276000
The following table shows the minimum demand available in the market for each model and the
profit per unit contributions.
A B C
Minimum demand 200200150
Profit per unit ($)302050
How many units of each product should be produced to maximize profit?
a) Define the variables.
b) State the formulation of the optimization model.
c) Solve the problem using Excel Solver, and submit your Excel file in Canvas. State the optimal
solution of the problem here.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!