The Elastic Firm Has Two Products Coming on the Market

question 24

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 3,200 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 exactly 50 Zigs.
(2) Achieve a target profit of at least $750.
(3) Use all of the product B available.
Formulate this as a goal programming problem.

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Recognize the arguments for and against large trade agreements such as NAFTA.

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Acknowledge the differences in legal and political systems across countries and their impact on business operations.