company manufactures two ballpoint pens, silver and gold. The silver requires 3 min in a 19) grinder and 4 min in a bonder. The gold requires 3 min in a grinder and 8 min in a bonder. grinder can be run no more than 87 hours per week and the bonder no more than 51 hours week. The company makes a $8 profit on each silver pen sold and $12 on each gold. How ma each type should be made each week to maximize profits? A) Silver pens: 0 Gold pens: 381 C) Silver pens: 1359 B) Silver pens: Gold pens: 382 D) Silver pens: 382 Gold pens: 1359 1

Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter9: Price Takers And The Competitive Process
Section: Chapter Questions
Problem 15CQ
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Solve the problem.
19) A company manufactures two ballpoint pens, silver and gold. The silver requires 3 min in a
grinder and 4 min in a bonder. The gold requires 3 min in a grinder and 8 min in a bonder. The
grinder can be run no more than 87 hours per week and the bonder no more than 51 hours per
week. The company makes a $8 profit on each silver pen sold and $12 on each gold. How many of
each type should be made each week to maximize profits?
A) Silver pens: 0
Gold pens: 381
C) Silver pens: 1359
Gold pens: 381
B) Silver pens: 1
Gold pens: 382
D) Silver pens: 382
Gold pens: 1359
Transcribed Image Text:Solve the problem. 19) A company manufactures two ballpoint pens, silver and gold. The silver requires 3 min in a grinder and 4 min in a bonder. The gold requires 3 min in a grinder and 8 min in a bonder. The grinder can be run no more than 87 hours per week and the bonder no more than 51 hours per week. The company makes a $8 profit on each silver pen sold and $12 on each gold. How many of each type should be made each week to maximize profits? A) Silver pens: 0 Gold pens: 381 C) Silver pens: 1359 Gold pens: 381 B) Silver pens: 1 Gold pens: 382 D) Silver pens: 382 Gold pens: 1359
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