Estimate the maximum possible daily profit, Macroeconomics

Shambles have selected the "Mythical Beasts" range and decided to concentrate on "Pegasus" and "Phoenix." They would now like to find the right mix of these two products in order to maximise profit. Each toy has to go through two processes during manufacture: sewing and stuffing.

Pegasus takes 30 minutes to sew whilst Phoenix takes 20 minutes; there are 10 hours (600 minutes) available for sewing each day.

Pegasus takes 20 minutes to stuff whilst Phoenix takes 25 minutes; there are 10 hours (600 minutes) available for stuffing each day.

Pegasus generates £4 profit per toy whilst Phoenix generates £5 profit per toy.

What is the maximum possible daily profit, and how many of each product should be produced in order to achieve this?

Use "Solver" in Microsoft Excel to solve this problem. Include:

a print-out of cell values
a print-out of cell formulae
a print-out of the Solver dialogue box with optimisation conditions and constraints
an Answer Report from Solve
a statement of the answer in words

 

Posted Date: 3/20/2013 5:28:37 AM | Location : United States







Related Discussions:- Estimate the maximum possible daily profit, Assignment Help, Ask Question on Estimate the maximum possible daily profit, Get Answer, Expert's Help, Estimate the maximum possible daily profit Discussions

Write discussion on Estimate the maximum possible daily profit
Your posts are moderated
Related Questions


You have two bags of polymer. Bag A has 10 kgs of polymer with weight average molecular weight of 336.6 kg and Bag B has 20kg of polymer with weight average molecular weight 392.7k

critically analyse the ways at which the govement of zimbabwe has put in place to address unequal employment opportunitiesbetween men andwomen

Which of the following statements regarding the heckscher-ohlin model and Ricardian trade theory is TRUE? a. Both the Heckscher-Ohlin and Ricardian models are current, relevant,

Do you agee or disagree " Economic theory helps society reach economic goals that it has selected for itself?" Justify your answer.

The Phillips curve in Lowland takes the form of ? = 0.04 - 0.5 (u - 0.05), where ? is the actual inflation rate and u is the unemployment rate. The Phillips curve in Highland takes

Maximum profits will occur at the output level where is the greatest vertical distance between Total Revenue(TR) AND Total Cost(TC. uSE THE TOTAL REVENUE-TOTAL COST CURVES TO Illus

How can franchises ensure their products are appropriate for international markets?

Reaganomics Supply-side economics or New Classical Economics has gained distinct prominence in the early 1980s with the election in the U.S.A of a conservative government unde