A company can sell all it produces of a given output for$2/unit. The output is produced by combining two inputs. Ifq1 units of input 1 and q2 units of input 2 are used, then the company can produce q1/31q2/32 units of the output. If it costs$1 to purchase a unit of input 1 and $1.50 to purchase a unitof input 2, then how can the company maximize its profit?
A company can sell all it produces of a given output for$2/unit. The output is produced by combining two inputs. Ifq1 units of input 1 and q2 units of input 2 are used, then the company can produce q1/31q2/32 units of the output. If it costs$1 to purchase a unit of input 1 and $1.50 to purchase a unitof input 2, then how can the company maximize its profit?
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.4: Applications
Problem 27EQ
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A company can sell all it produces of a given output for
$2/unit. The output is produced by combining two inputs. If
q1 units of input 1 and q2 units of input 2 are used, then the
$2/unit. The output is produced by combining two inputs. If
q1 units of input 1 and q2 units of input 2 are used, then the
company can produce q1/3
1
q2/3
2 units of the output. If it costs
$1 to purchase a unit of input 1 and $1.50 to purchase a unit
of input 2, then how can the company maximize its profit?
1
q2/3
2 units of the output. If it costs
$1 to purchase a unit of input 1 and $1.50 to purchase a unit
of input 2, then how can the company maximize its profit?
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