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Write the inequalities that describe the constraints on production.
-The Acme Class Ring Company designs and sells two types of rings: the VIP and the SST. The company can produce up to 84 rings each day, using up to 210 total man-hours of labor. It takes 3 man-hours to make one VIP ring and 7 man-hours to make one SST ring. Let x represent the number of VIP rings, and let y represent The number of SST rings.
Net Income
The total earnings of a company after all expenses and taxes have been deducted from revenue.
Contribution Margin
The amount remaining from sales revenue after variable expenses are deducted, used to cover fixed costs and generate profits.
Gross Margin
Gross Margin is the difference between revenue and the cost of goods sold, divided by revenue, expressed as a percentage. It indicates the percentage of revenue that exceeds the cost of goods sold.
Special Order
A special order refers to a one-time order that is not part of the regular, ongoing business operations and usually requires consideration of additional costs and pricing.
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