Tracksaws, Inc Formulation:
Let X = Number of Tractors Produced Per Period

question 82

Short Answer

Tracksaws, Inc. makes tractors and lawn mowers. The firm makes a profit of $30 on each tractor and $30 on each lawn mower, and they sell all they can produce. The time requirements in the machine shop, fabrication, and tractor assembly are given in the table.
$$\begin{array} { l l l l } & \text { Machine Shop } & \text { Fabrication } & \text { Assembly } \\\hline \text { Tractor } & 2 \text { hours } & 2 \text { hours } & 1 \text { hour } \\\text { Lawn Mower } & 1 \text { hour } & 3 \text { hours } & 0 \text { hour } \\\text { Hrs. Available } & 60 \text { hours } & 120 \text { hours } & 45 \text { hours } \\\hline\end{array}$$ Formulation:
Let x = number of tractors produced per period
y = number of lawn mowers produced per period
Let x = number of tractors produced per period
y = number of lawn mowers produced per period
MAX 30x + 30y
subject to  2x + y ? 60
    2x + 3y ? 120
    x ? 45



The graphical solution is shown below.

-What is the shadow price for fabrication?

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Definitions:

Quotas

Numerical limits imposed on the quantity of a specific good that may be imported.

Positive Balance

A financial situation where income exceeds expenses or assets surpass liabilities, often considered a sign of financial health.

International Trade

The exchange of goods, services, and capital between countries or territories.

20th Century

Refers to the period from January 1, 1901, to December 31, 2000, marking the twentieth century of the Gregorian calendar.