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FarmFresh Foods manufactures a snack mix called TrailTime by blending three ingredients: a dried fruit mixture,a nut mixture,and a cereal mixture.Information about the three ingredients (per ounce)is shown below.
The company needs to develop a linear programming model whose solution would tell them how many ounces of each mix to put into the TrailTime blend.TrailTime is packaged in boxes that will hold between three and four cups.The blend should contain no more than 1000 calories and no more than 25 grams of fat.Dried fruit must be at least 20% of the volume of the mixture,and nuts must be no more than 15% of the weight of the mixture.Develop a model that meets these restrictions and minimizes the cost of the blend.
Utility Maximization
An economic principle where consumers attempt to get the greatest satisfaction possible from their available resources.
Demand Schedule
A table of numbers showing the amounts of a good or service buyers are willing and able to purchase at various prices over a specified period of time.
Utility Maximization
Utility Maximization is the economic principle that individuals or firms seek to achieve the highest satisfaction or benefit from their resources.
Marginal Utility
The extra contentment or usefulness experienced by consuming one more unit of a good or service.
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