Native Customs Sells Two Popular Styles of Hand-Sewn Footwear: a Sandal

question 28

Essay

Native Customs sells two popular styles of hand-sewn footwear: a sandal and a moccasin.The cost to make a pair of sandals is $18,and the cost to make a pair of moccasins is $24.The demand for these two items is sensitive to the price,and historical data indicate that the monthly demands are given by S = 400 − 10P₁ and M = 450 − 15P₂,where S = demand for sandals (in pairs),M = demand for moccasins (in pairs),P₁ = price for a pair of sandals,and P₂ = price for a pair of moccasins.To remain competitive,Native Customs must limit the price (per pair)to no more than $60 and $75 for its sandals and moccasins,respectively.Formulate this nonlinear programming problem to find the optimal production quantities and prices for sandals and moccasins that maximize total monthly profit.

Grasp the importance of human resource laws on planning processes.

Analyze internal and external supplies of human resources.

Know the steps and methods involved in the human resource planning process.

Understand various strategies to address human resource shortages.