1) The current law also gives landlords the right to raise rents to market each time tenants move out, which owners say is critical because those
October 12, 2020
Resources: Principles of Microeconomics , Ch. 1, 2, 3, 4, and 6.
October 12, 2020
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A company manufactures Product A and Product B. Each product A contributes $300 to profit, and each Product Bcontributes $400.

A company manufactures Product A and Product B. Each product A contributes $300 to profit, and each Product Bcontributes $400. The resources required to manufacture a product A and a product Bare shown in below table. Each day, company can hire up to 98 Type 1 machines at a cost of $50 per machine. The company has 73 Type 2 machines and 260 tons of wood available. Marketing requirements statesthat at least 88 product A and at least 26 product B be produced. Let ????1 = number of product A produced daily; ????2 = number of product Bproduced daily; ????1 = Type 1 machines rented daily. To maximize profit, company should solve the below LP. Use the LINDOoutput to answer the following questions: a. If each product A contributed $310 to profit, what would be the new optimal solution to the problem? b. If company were required to produce at least 86 product A, what would company’s profit become? c. What is the most that company should be willing to pay for an extra ton of wood? d. What is the range of values for the profit of product B for which the current basis remain optimal? e. What is the range of values for the amount of wood available for which the current basis remain optimal?

 

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