Makes necklace and bracelets from gold and platinum

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Reference no: EM131159212

A jewelry store makes necklace and bracelets from gold and platinum. The store has 18 ounces of gold and 20 ounces of platinum. Each necklace requires 3 ounces of gold and 2 ounces of platinum, whereas each bracelet requires 2 ounces of gold and 4 ounces of platinum. The demand for bracelets is no more than 4. A necklace earns $300 in profit and a bracelet, $400. The store wants to determine the number of necklaces and bracelets to make in order to maximize profit. Solve this model using POM/QM and answer the following questions.

1. How many necklaces should be produced?

2. How many bracelets should be produced?

3. What is the maximum profit that should be made (do not include any decimals)?

4. How much should you be willing to pay for an additional ounce of gold? (do not include decimals)

5. If necklaces earned $400 in profit, how many necklaces should be produced?

Reference no: EM131159212

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