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Define the objective function for a firm

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A travel company operates two types of vehicle, A and B. Vehicle A can carry 40 passengers and 30 tons of baggage. Vehicle B can carry 60 passengers but only 15 tons of baggage. The travel company is contracted to carry at least 960 passengers and 360 tons of baggage per journey. If a vehicle A costs $1,000 to operate per journey and vehicle B costs $ 1,200 to operate per journey, what choice of vehicle will minimize the total cost per journey?

  1. Define the objective function for a firm and the decision variables
  2. Define the constraints for the problem (constraint for passengers and baggage)
  3. Solve the problem for excel, which is the optimal amount of A and B that minimize the costs?

Reference no: EM131812861

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