A company makes products A and B from 2 resources, labor and material. The company wants to determine the selling price which will maximize profits. A unit of A costs 30 to make and demand is estimated to be 50 - .09 * Price of A. A unit of B costs 20 to make and demand is estimated to be 30 - .14 * Price of B. The utilization of labor and materials and the available quantity of resources is shown in the table. A reasonable price for the products is between 90 and 140.
Let X1 = demand for As and X2 = demand for Bs.
Let P1 = price for As and P2 = price for Bs.
Formulate the NLP for this company
Definitions:
Sugar
A sweet-tasting, soluble carbohydrate used commonly as a sweetener in food and drinks.
Trade Barriers
Any regulation or policy that restricts international trade, including tariffs, quotas, and non-tariff barriers, aimed at protecting domestic industries.
Farm Programs
Government initiatives designed to provide financial support and stabilization to the agriculture sector through subsidies, price supports, and conservation efforts.
United States
A country located in North America, known for its diverse geography, culture, and economy.
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