A company produces A, B, and C and can sell theseproducts in unlimited quantities at the following unit prices:A, $10; B, $56; C, $100. Producing a unit of A requires 1hour of labor; a unit of B, 2 hours of labor plus 2 units ofA; and a unit of C, 3 hours of labor plus 1 unit of B. AnyA that is used to produce B cannot be sold. Similarly, anyB that is used to produce C cannot be sold. A total of 40hours of labor are available. Formulate an LP to maximizethe company’s revenues.

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Optimization Models

Optimization models are mathematical models that help organizations determine the best way to allocate scarce resources to achieve specific objectives. These models can be used to solve a wide variety of problems, from finding the most efficient route for a delivery truck to determining the optimal mix of products to stock in a store.