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Question: Jan Tinbergen is a newly hired quantitative analyst for Ford Motors. He has requested to provide an estimate of the number of cars engines for two models to produce each day. One of these is the Standard model engine, while the other is the Deluxe model engine. The profit per unit on the Standard model engine is $60, while the profit per unit on the Deluxe model engine is $40. The Standard model engine requires 10 minutes of assembly time, while the Deluxe model engine requires 25 minutes of assembly time. The Standard model engine requires 5 minutes of inspection time, while the Deluxe model engine requires 10 minutes of inspection time. The company must fill an order for 6 Deluxe model engines. There are 250 minutes of assembly time and 120minutes of inspection time available each day. How many units of each product should be manufactured to maximize profits? What is the maximum profit
This document contains various important questions and their appropriate answers in the subject field of Economics.
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