Kane Manufacturing has a division that produces two models of grates, model A and model B. To produce each model A grate requires 3 pounds of cast iron and 6 minutes of labor. To produce each model B grate requires 4 pounds of cast iron and 3 minutes of labor. The profit for each model A grate is $1.50, and the profit for each model B grate is $1.00. Available for grate production each day are 1000 pounds of cast iron and 20 labor- hours. Because of an excess inventory of model A grates, management has decided to limit the production of model A grates to no more than 180 grates per day. Maximize P- 1.5x + 1y subject to 3x + 4y s1000 Resource 1 6x + 3y s1200 Resource 2 xS 180 Resource 3 y 2 0 (a) Find the shadow price for Resource 2. (Round your answer to the nearest cent.) $ 40
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
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