A jewelry store makes necklaces and bracelets from gold and platinum. The store has 18 ounces of gold and 20 ounces of platinum. Eachnecklace requires 3 ounces of gold and 2 ounces of platinum, whereas each bracelet requires 2 ounces of gold and 4 ounces of platinum. Thedemand for bracelets is no more than four. A necklace earns $300 in profit and a bracelet, $400. The store wants to determine the number ofnecklaces and bracelets to make in order to maximize profit. Solve this model by using graphical analysis.

A jewelry store makes necklaces and bracelets from gold and platinum. The store has 18 ounces of gold and 20 ounces of platinum. Eachnecklace requires 3 ounces of gold and 2 ounces of platinum, whereas each bracelet requires 2 ounces of gold and 4 ounces of platinum. Thedemand for bracelets is no more than four. A necklace earns $300 in profit and a bracelet, $400. The store wants to determine the number ofnecklaces and bracelets to make in order to maximize profit. Solve this model by using graphical analysis.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 33P: Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand...

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Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand will grow at 5% a year. If the company builds a plant that can produce x units of Wozac per year, it will cost 16x. Each unit of Wozac is sold for 3. Each unit of Wozac produced incurs a variable production cost of 0.20. It costs 0.40 per year to operate a unit of capacity. Determine how large a Wozac plant the company should build to maximize its expected profit over the next 10 years.
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