Suppose that the number of labor-hours that are available each day is increased by 54. Use sensitivity analysis to determine the effect on the optimal number of knives produced and on the profit.
The Cutting Edge Knife Company problem of Example 1.
The exclusive Cutting Edge Knife Company manufactures chef's knives and pocket knives. Each chef's knife requires 3 labor-hours, 7 units of steel, and 4 units of wood. Each pocket knife requires 6 labor-hours, 5 units of steel, and 3 units of wood. The profit on each chef's knife is $30, and the profit on each pocket knife is $50. Each day, the company has available 90 labor-hours, 138 units of steel, and 120 units of wood.