Question: I need a SIMULTANEOUS Solution method to establish what should be the better production mix to maximize production and income. 4- Company X produce chairs,
I need a SIMULTANEOUS Solution method to establish what should be the better production mix to
4- Company X produce chairs, tables and cabinets with an income of $5M, S6M, and $3M respectively. For the weekly production they have 150 pounds of wood, 120 pounds of tube, and 200 men hrs. of production work. To produce a chair the requirements are 5 pounds of wood, 3 pounds of tube and 4 men hrs. of work. For a table they need 3 pounds of wood, 4 pounds of tube, and 5 men hrs, of work. For a cabinet they need 2 pounds of wood, 3 pounds of tube, and I men hr. Using the Simultaneous Solution establish what should be the better production mix to maximize production and income maximize production and income.
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