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A company wishes to produce two types of souvenirs: Type A and Type B. Each Type A souvenir will result in a profit of $0.80, and each Type B souvenir will result in a profit of $1.80. To manufacture a Type A souvenir requires 2 minutes on Machine I and 1 minute on Machine II. A Type B souvenir requires 1 minute on Machine I and 3 minutes on Machine II. There are 2 hours available on Machine I and 5 hours available on Machine II. (a) For a meaningful solution, the time available on Machine II must lie between min. (Enter your answers from smallest to largest.) (b) If the time available on Machine II is changed from 300 min to (300 + k) min, with no change in the maximum capacity for Machine I, then Ace Novelty's profit is maximized by producing Type A souvenirs and Type and souvenirs, where sks (c) Find the shadow price for Resource 2 (associated with constraint 2). (Round your answer to the nearest cent.) $

A company wishes to produce two types of souvenirs: Type A and Type B. Each Type A souvenir will result in a profit of $0.80, and each Type B souvenir will result in a profit of $1.80. To manufacture a Type A souvenir requires 2 minutes on Machine I and 1 minute on Machine II. A Type B souvenir requires 1 minute on Machine I and 3 minutes on Machine II. There are 2 hours available on Machine I and 5 hours available on Machine II. (a) For a meaningful solution, the time available on Machine II must lie between min. (Enter your answers from smallest to largest.) (b) If the time available on Machine II is changed from 300 min to (300 + k) min, with no change in the maximum capacity for Machine I, then Ace Novelty's profit is maximized by producing Type A souvenirs and Type and souvenirs, where sks (c) Find the shadow price for Resource 2 (associated with constraint 2). (Round your answer to the nearest cent.) $

College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter6: Linear Systems
Section6.8: Linear Programming
Problem 5SC: If during the following year it is predicted that each comedy skit will generate 30 thousand and...
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A company wishes to produce two types of souvenirs: Type A and Type B. Each Type A souvenir will result in a profit of $0.80, and each Type B souvenir will result in a profit of $1.80. To manufacture a Type A souvenir requires 2 minutes on Machine I and 1 minute on Machine II. A Type B souvenir requires 1 minute on Machine I and 3 minutes on Machine II. There are 2 hours available on Machine I and 5 hours available on Machine II. (a) For a meaningful solution, the time available on Machine II must lie between and min. (Enter your answers from smallest to largest.) (b) If the time available on Machine II is changed from 300 min to (300 + k) min, with no change in the maximum capacity for Machine I, then Ace Novelty's profit is maximized by producing Type A souvenirs and Type B souvenirs, where ≤ks (c) Find the shadow price for Resource 2 (associated with constraint 2). (Round your answer to the nearest cent.) $
Transcribed Image Text:A company wishes to produce two types of souvenirs: Type A and Type B. Each Type A souvenir will result in a profit of $0.80, and each Type B souvenir will result in a profit of $1.80. To manufacture a Type A souvenir requires 2 minutes on Machine I and 1 minute on Machine II. A Type B souvenir requires 1 minute on Machine I and 3 minutes on Machine II. There are 2 hours available on Machine I and 5 hours available on Machine II. (a) For a meaningful solution, the time available on Machine II must lie between and min. (Enter your answers from smallest to largest.) (b) If the time available on Machine II is changed from 300 min to (300 + k) min, with no change in the maximum capacity for Machine I, then Ace Novelty's profit is maximized by producing Type A souvenirs and Type B souvenirs, where ≤ks (c) Find the shadow price for Resource 2 (associated with constraint 2). (Round your answer to the nearest cent.) $
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