Question: It's an optimization question, please explain in details. A store sells two types of toys, A and B. The store owner pays 8TL for a
It's an optimization question, please explain in details.
A store sells two types of toys, A and B. The store owner pays 8TL for a unit of toy A and 14TL for a unit of toy B. One unit of toy A yields a profit of 2TL while a unit of B yields a profit of 3TL. The store owner estimates that no more than 2,000 toys will be sold every month and he doesnt plan to invest more than 20,000 TL in inventory. How many units of each type of toys should be stocked in order to maximize the owners monthly total profit? No numerical result is needed.
a) Define variables, parameters, objective, and constraints one by one.
b) Write the mathematical model in the standard form. Any use of numeric number in the model will be penalized.
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