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The Pinewood Furniture Company produces chairs and tables using two resources – labor and wood. The company has 800 hours of labor and 360 pounds of wood available each day. Demand for chairs is limited to 50 per day (this implies that the production of chairs per day would be no more than 50). Each chair requires 8 hours of labor and 2 pounds of wood to produce, while a table requires 10 hours of labor and 6 pounds of wood. The profit derived from each chair is $200 and the profit from each table is $50. The company wants to determine the number of chairs and tables to produce each day in order to maximize its daily profit. Assume that every chair and table produced will be successfully sold.
What is the optimal solution to the number of chairs that should be produced?
What is the maximum profit?
Discuss the validity of the study of “How Prices, Ad Expenditures, and Profits Are Linked,” in light of the consumer information explosion that has occurred due to the emergence of the Internet?
The same bakery also makes gourmet chocolate-chip cookies by the dozen to sell to local grocers. The bakery is contracted to supply 30 dozen cookies a day to the grocers.
Identify a potential threat or opportunity facing this organization. Then, identify a specific strength that this company possesses and suggest how the organization could exploit this strength to overcome the potential threat or exploit the potential..
A nonprofit company concerned with the school dropout rates in a nearby state has designed a tutoring program aimed at students between 16 and 18 years old. The high school dropout rate in the school for the year 2000 was 9.5%. What are the null and ..
A firm has redesigned its production process so that it now takes 10 hours for a unit to be made. Using the old process, it took 15 hours to make a unit
Determine whether this is a necessary attribute for all employees who work for domestic-based companies and multinational companies or just for top executives of these companies.
For your initial post, compare and contrast Hofstede’s dimensions of culture, GLOBE cultural dimensions, and Trompenaars' value dimensions. Describe the managerial implications of each set and which you would prefer to use if you were a manager of a ..
There are two islands, Avalon and Baltia, which have identical economies satisfying the assumptions of the Solow model. In particular, output in both economies is produced with the neoclassical production function F(K, AL) using inputs capital K, tec..
Identify at least three major factors that contributed to the shift to ambulatory care services. Explore the implications of this shift for ambulatory care facilities, healthcare providers and physicians, consumers, and possible healthcare career foc..
Facebook is facing backlash for a psychological study it performed without user consent. Facebook manipulated the message steams of nearly 700,000 users in 2012 to analyze their subsequent responses. Anger in the United States by consumers who feel t..
What parameters would lead you to believe that (a) large safety stock, (b) small safety stock, and (c) zero safety stock would be advantageous for the organization. Be sure to provide examples and data in support.
Why is employee socialization a method that can increase employee retention? Explain how employees in a traditionally high turnover industry can be retained and you cannot use money as part of the plan.
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