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Household Appliances Corp produces 3 products: lamps, light bulbs, and extension cords.
Lamps take 6 minutes of labor to produce, lightbulbs take 3 minutes, and extension cords take 4 minutes. Lamps require 8 electric cables, lightbulbs require 2 cables, and extension cords require 8 cables to produce. Since light bulbs are complementary goods to lamps, and lightbulbs tend to die way before the lamps, the company wishes to produce at least 4 times more lightbulbs than lamps. The company has a total of 1000 minutes of labor and 800 wires. The per unit profit for lamps is $4, light bulbs are $0.50 and extension cords is $2.
What is the maximum profit this corporation could achieve? Optimal Solutions?
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Which of the following is an inequality or equation that expresses a restriction in a mathematical model?
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Find the product mix that maximizes profit. A manufacturer of tires produces two kinds of tires. The premium tire, The Last -Forever, is a steel -belted, puncture -resistant, long -wear tire that holds all records for quality within the industry.
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List the five (5) basic steps in financial analysis.
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Change is everywhere, yet very few people seem to embrace the concept. We are, for the most part, creatures of habit and follow daily routines. When change occurs, our activities and thought patterns are disrupted.
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As noted in the readings, the policy cycle consists of eight stages: agenda setting, problem definition, alternative selection, authoritative decision, policy design, program implementation, program evaluation, and termination or change (Cropf, p. 25..
What is the economic justification for the rapid growth of premium package services.
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