The Owner of Chips Etc

question 72

Multiple Choice

The owner of Chips etc. produces two kinds of chips: lime (L) and vinegar (V) . He has a limited amount of the three ingredients used to produce these chips available for his next production run: 4800 ounces of salt, 9600 ounces of flour, and 2000 ounces of herbs. A bag of lime chips requires 2 ounces of salt, 6 ounces of flour, and 1 ounce of herbs to produce; while a bag of vinegar chips requires 3 ounces of salt, 8 ounces of flour, and 2 ounces of herbs. Profits for a bag of lime chips are $0.40, and for a bag of vinegar chips $0.50.
-What is the constraint for salt?

• A) 6L + 8V ≤ 4800
• B) 1L + 2V ≤ 4800
• C) 3L + 2V ≤ 4800
• D) 2L + 3V ≤ 4800

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Definitions:

Partnership Agreement

A legal document that outlines the rights and responsibilities of each partner in a business partnership, including profit sharing and decision-making processes.

General Partnership

A business structure where two or more individuals agree to share all assets, profits, financial and legal liabilities of a venture.

Joint Venture

A form of business organization identical to a partnership, except that it is engaged in a single project, not carrying on a business.

Co-owners

Individuals or entities that hold ownership rights in a property or business together.