Use the Following Data for Next 2 Questions

question 47

Multiple Choice

Use the following data for next 2 questions:
Tieton Co. has two departments, Fabrication and Assembly. They produce 2 products. Product T needs 6 hours in fabrication and 6 hours in assembly. Product S needs 2 hours in fabrication and 4 hours in assembly. Fabrication has 24 hours available and Assembly 18. Total variable costs are $ 20 and $15 for T and S respectively. T sells for $22 and S for $16.
-The objective function to maximize Tieton's profits is

• A) MAX$22T+ $16S
• B) MAX$20T+ $15S
• C) MAX$1T + $2S
• D) MAX$2T + $1S

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Definitions:

Economic Activity

The actions that involve the production, distribution, and consumption of goods and services within an economy.

Aggregate Demand

The comprehensive economic demand for all goods and services, marked at a particular price level over a certain period.

Money Supply

The total amount of money available in an economy at a specific time, including cash, coins, and balances held in bank accounts.

Retirement

The act of leaving one's job or ceasing to work after reaching a certain age or due to health issues, often accompanied by receiving a pension or other retirement benefits.