1.а)Define Mark-up and Margin with example.b) Pure Gasoline Company operates two refineries with different production capacities.Refinery A can produce 4000 gallons per day of Super Unleaded gasoline, 2000 gallonsper day of Regular Unleaded gasoline, and 1000 gallons per day of Diesel Fuel. On theother hand, Refinery B can produce 1000 gallons per day of Super Unleaded gasoline,3000 gallons per day of Regular Unleaded gasoline, 4000 gallons per day of Diesel Fuel.The company has made a contract with an automobile manufacturer to provide exactly24,000 gallons of Super Unleaded, 42,000 gallons of Regular Unleaded, and 36,000gallons of Diesel Fuel. Determine the numbers of days the company should operate eachrefinery in order to meet the terms of the contract most economically.

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Description: 1.а)Define Mark-up and Margin with example.b) Pure Gasoline Company operates two refineries with different production capacities.Refinery A can produce 4000 gallons per day of Super Unleaded gasoline, 2000 gallonsper day of Regular Unleaded gasoline

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Answered: 1. a) Define Mark-up and Margin with…

Business

Operations Management

1. a) Define Mark-up and Margin with example.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter7: Nonlinear Optimization Models

Section: Chapter Questions

Problem 56P

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