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A craftsman builds two kinds of birdhouses,one for wrens (X1),and one for bluebirds (X2).Each wren birdhouse takes four hours of labor and four units of lumber.Each bluebird house requires two hours of labor and twelve units of lumber.The craftsman has available 60 hours of labor and 120 units of lumber.Wren houses profit $6 each and bluebird houses profit $15 each.
Use the software output that follows to interpret the problem solution.Include a statement of the solution quantities (how many of which product),a statement of the maximum profit achieved by your product mix,and a statement of "resources unused" and "shadow prices."
Short-Term Debt
Borrowings that are due to be paid back within a short period, typically less than one year.
Long-Term Equities
Investment securities that represent ownership in a company or corporation and are held for a period longer than one year.
Maturity Matching
A financial strategy that entails matching the duration of assets and liabilities to minimize risk associated with cash flow mismatches.
Project Duration
The total time required to complete a project from start to finish.
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