Table 8-3 Each Coffee Table Produced by Timothy Kent Designers Nets the Nets

question 79

Multiple Choice

Table 8-3
Each coffee table produced by Timothy Kent Designers nets the firm a profit of $9. Each bookcase yields a $12 profit. Kent's firm is small and its resources limited. During any given production period (of 1 week) , 10 gallons of varnish and 12 lengths of high quality redwood are available. Each coffee table requires approximately 1 gallon of varnish and 1 length of redwood. Each bookcase takes 1 gallon of varnish and 2 lengths of wood.
-Referring to Table 8-3, which of the following constraints would be used?

• A) Maximize 9T + 12B
• B) 9T + 12B ≥ 12
• C) 12T + 9B ≤ 10
• D) 10T + 10B ≥ 10
• E) None of the above

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Definitions:

Short-Run Average Cost

The average cost of production per unit in the short term, where some inputs are fixed and others are variable.

U-Shaped

A graphical representation showing a particular relationship where initial and end values are higher than those in the middle, resembling a "U" shape.

Returns To Scale

The change in output resulting from a proportional increase in all inputs in the production process.

Procedural Safeguards

These are legal protections designed to ensure that individuals' rights are preserved during legal or administrative processes.