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The following linear programming problem has been written to plan the production of two products.The company wants to maximize its profits.
X1 = number of product 1 produced in each batch X2 = number of product 2 produced in each batch
MAX: 150 X1 + 250 X2
Subject to: 2 X1 + 5 X2 ≤ 200
3 X1 + 7 X2 ≤ 175 X1,X2 ≥ 0
How many units of resource two the second constraint) are unutilized if the company produces 10 units of product 1 and 5 units of product 2?
Not-for-Profit Organizations
Organizations that operate for purposes other than making a profit, often focused on social, educational, or charitable activities.
General Corporations
A legal entity created by individuals, stockholders, or shareholders, with the purpose of operating for profit. Corporations have legal rights, liabilities, and can enter contracts.
Capital Item
Long-lasting goods that a firm acquires and uses in the production of other goods or services that have a life span extending beyond one year.
Specialty Products
Goods or services that are perceived as unique or high-value by consumers, often requiring a significant effort to search for and purchase.
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