A Company Can Decide How Many Additional Labor Hours to Acquire

question 22

Essay

A company can decide how many additional labor hours to acquire for a given week.Subcontractors will only work a maximum of 20 hours a week.The company must produce at least 200 units of product A,300 units of product B,and 400 units of product C.In 1 hour of work,worker 1 can produce 15 units of product A,10 units of product B,and 30 units of product C.Worker 2 can produce 5 units of product B,20 units of product B,and 35 units of product C.Worker 3 can produce 20 units of product A,15 units of product B,and 25 units of product C.Worker 1 demands a salary of $50/hr,worker 2 demands a salary of $40/hr,and worker 3 demands a salary of $45/hr.The company must choose how many hours they should hire from each worker to meet their production requirements and minimize labor cost.The sensitivity report is displayed below.

Answer the following questions:
a.How much of products A,B,and C should be produced?
b.Which constraints are binding? Which constraints are non-binding?
c.If constraint 2 is relaxed by one unit,how will the objective value be affected?

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Definitions:

Cultural Identities

These are the shared beliefs, values, customs, and characteristics that define a group of people or a culture.

Ethnic Groups

Collections of people who share cultural practices, languages, historical backgrounds, and sometimes physical characteristics.

Multiethnic Societies

Societies comprised of multiple ethnic groups, often characterized by a rich diversity of cultures, languages, and traditions.

Nation Building

Efforts aimed at developing a national identity, cohesive society, and effective state institutions, often after conflict or during states of transition.