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Thanks! Question 2

Alice makes two types of accessories (Product 1 and 2) for selling in the handcraft market. Each of them requires various units of Acrylic, Metal, and Nylon. The unit costs of Acrylic, Metal, and Nylon are $5, $10, and $3 respectively. Now, she wants to determine the number of Product 1 and 2 to be made to maximize the total profit. For each unit of Product 1, three units of Acrylic, one unit of Metal, and two units of Nylon are required. For each unit of Product 2, one units of Acrylic, and four units of Nylon are required. The supplier has 300 units of Acrylic, unlimited Metal, and 200 units of Nylon. Amy decides to set the unit price of Product 1 as $80, and $60 for Product 2. After analysing the demand of each product, she decides to produce at least 10 units of Product 2 but no more than 50 units.

a. Identify the decisions to be made, the constraints on these decisions, and the overall measure of performance for the decisions.

b. Convert descriptions of constraints and measure of performance into quantitative expressions in terms of the data and decision variables.

c. Formulate and solve a linear programming model for this problem on a spreadsheet.

d. Explain the answers.