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The product design and market share optimization problem presented in the textbook is formulated as a 0-1 integer linear programming model.
Variable Manufacturing Overhead
Costs in manufacturing that vary directly with levels of production, such as materials and labor directly involved in production.
Labor Cost
The total amount of financial compensation paid to employees for their work, including wages, benefits, and taxes.
Variable Manufacturing Overhead
Costs of manufacturing that change with production volume, such as utilities or indirect materials, not fixed over the short term.
Machine-Hours
A measure used in manufacturing to allocate costs to products or job orders based on the number of hours a machine is used.
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