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The SPC Corporation manufactures two industrial-sized electrical devices: generators and alternators. Both of these products require wiring and testing during the assembly process. Each generator requires 2 hours of wiring and 1 hour of testing and can be sold for a $250 profit. Each alternator requires 3 hours of wiring and 2 hours of testing and can be sold for $150 profit. There are 260 hours of wiring time and 140 hours of testing time available in the next production period and SPC Corp. wants to maximize profit without exceeding these resource availability constraints.
- Formulate a linear programming model and identify the optimal production levels.
- Make graph(by excel) of your model showing the 2 constraints, a profit level curve at the maximum profit and the optimal solution. You do not have to build a full, working model like we used in class. Consider as if you are creating a PowerPoint slide and need a graphical illustration of the problem and the solution. Feel free to take full artistic/creative license and create a graph that you feel visualizes the information clearly and effectively.
You are being asked by your company to take a performance review system created in the US to your branch offices in Japan, China and Thailand.
Jim produces and sells $1100 worth of flowers. Jim uses no intermediate inputs. He pays his workers $700 in wages, pays $100 in taxes and pays $200 in interest on a loan. What is Jim's contribution to GDP? What are Jim's profits?
Suppose a short-run production function is described as Q = 1L - (1/800)L2 where L is the number of labors used each hour.
After America's latest mortgage meltdown, what checks and balances are required at the 1) Consumer Level 2) Mortgage provider level 3) Government level?
q1. george if purchases 4 sodas at 2 each he can buy 4 pretzels at 5 each. this will leave george with 0 dollars and 1
Several of the men and women currently running for President of the United States have suggested modifying the current tax code. Select a presidential candidate, go to his/her website, and read about his/her tax proposal. Explain how well the tax pro..
Consider a game between a parent and a child. The child can choose to be good (G) or bad (B); the parent can punish the child (P) or not (N). The child gets enjoyment worth a 1 from bad behavior, but hurt worth -2 from punishment. Thus a child who be..
Assume that Densa Inc. falls 10 percent short of producing the profit maximizing output. Would a higher product price lead to greater output
The price of beer rose by 6%, the price of pizza rose by 2.7% and the price of chocolate did not rise at all. Also, suppose that beer presents 8 percent of the economy and pizza represent 31 percent. Chocolate is the rest of the economy. What was the..
Assume that in a remote but beautiful valley, a chicken farm is located next to a hotel. There are no other businesses or residences in the valley. Unfortunately for the hotel, the chicken farm produces an extremely noxious odor. Due to this odor..
What do you think are the three most important purposes of the AICPA Code of Professional Conduct?
Talk about what is Theory and how it is important to understand for grad students. And how we can apply it for the business.
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