Question: Quick Megabyte Electronics (QME) produce many different electronic gadgets, including circuit boards. Currently, QME focused on two particular types of circuit boards, CB11 and CB22.

Quick Megabyte Electronics (QME) produce many

Quick Megabyte Electronics (QME) produce many different electronic gadgets, including circuit boards. Currently, QME focused on two particular types of circuit boards, CB11 and CB22. These two circuit boards require skilled labor hours, general labor hours and required material. The required material they are importing from outside the country and is available in boxes. CB11 required three skilled labor hours, one general labor hour and two boxes of required material. At the same time, CB22 required four skilled labor hours, two general labor hours and three boxes of required material. QME planned weekly. In a week, they have 275 skilled labor hours, 225 general labor hours, and 390 raw material boxes. QME wants to determine the selling price at which they will sell these circuit boards to maximize the profit. The cost to produce one unit of CB11 is $52, and the cost to produce one unit of CB22 is $45. Demand and Profit equations are stated below, where P1 and P2 represent the selling price for CB11 and CB22. Demand for CB11 = 50 -0.38 x P1 Demand for CB22 = 40 -0.25 x P2 Profit = P1 x Demand of CB11 + P2 x Demand of CB22 x represents multiplication operation in the above functions. (l-a) Write down the objective function to formulate a nonlinear programming (NLP) model for QME that can maximize the profit. Hint: highest power in the objective function should not be 1. (1-b) Suppose the above NLP is completely formulated and solved, following values of selling prices found: P1=$91.80 and P2=$102.50. Calculate the profit

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