Examlex
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 How much profit is earned if the company produces 10 units of product 1 and 5 units of product 2?
Supply
The number of products—goods and services—that businesses are willing to sell at different prices at a specific time.
Demand
The number of goods and services that consumers are willing to buy at different prices at a specific time.
Profits
The financial gain that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.
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