The Elastic Firm Has Two Products Coming on the Market

question 53

Essay

The Elastic Firm has two products coming on the market, Zigs and Zags.To make a Zig, the firm needs 10 units of product A and 15 units of product B.To make a Zag, they need 20 units of product A and 15 units of product B.There are only 2,000 units of product A and 3,000 units of product B available to the firm.The profit on a Zig is $4 and on a Zag it is $6.Management objectives in order of their priority are:
(1)Produce at least 40 Zags.
(2)Achieve a target profit of at least $750.
(3)Use all of the product A available.
(4)Use all of the product B available.
(5)Avoid the requirement for more product A.
Formulate this as a goal programming problem.

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Definitions:

Chunks

Memory units that consist of several components grouped together and processed as a single unit.

Episodic Memory

A form of memory that holds information about particular events, circumstances, and personal experiences over an extended period.

Implicit Memory

A type of long-term memory that enables us to perform tasks without conscious awareness, such as procedural tasks and skills.

Procedural Memory

A type of long-term memory involved in the learning and execution of motor skills and actions.