The Elastic Firm has two products coming on the market, Zigs and Zags. To make a Zig, the firm needs 10 units of product A and 15 units of product B. To make a Zag, they need 20 units of product A and 15 units of product B. There are only 2,000 units of product A and 3,000 units of product B available to the firm. The profit on a Zig is R4 and on a Zag it is R6. Management objectives in order of their priority are: (1) Produce at least 40 Zags. (2) Achieve a target profit of at least R750. (3) Use all of the product A available. (4) Use all of the product B available. (5) Avoid the requirement for more product A. Formulate this as a goal programming problem.
The Elastic Firm has two products coming on the market, Zigs and Zags. To make a Zig, the firm needs 10 units of product A and 15 units of product B. To make a Zag, they need 20 units of product A and 15 units of product B. There are only 2,000 units of product A and 3,000 units of product B available to the firm. The profit on a Zig is R4 and on a Zag it is R6. Management objectives in order of their priority are: (1) Produce at least 40 Zags. (2) Achieve a target profit of at least R750. (3) Use all of the product A available. (4) Use all of the product B available. (5) Avoid the requirement for more product A. Formulate this as a goal programming problem.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter6: Optimization Models With Integer Variables
Section: Chapter Questions
Problem 49P
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The Elastic Firm has two products coming on the market, Zigs and Zags. To make a Zig, the firm needs 10 units of product A and 15 units of product B. To make a Zag, they need 20 units of product A and 15 units of product B. There are only 2,000 units of product A and 3,000 units of product B available to the firm. The profit on a Zig is R4 and on a Zag it is R6. Management objectives in order of their priority are:
(1) Produce at least 40 Zags.
(2) Achieve a target profit of at least R750.
(3) Use all of the product A available.
(4) Use all of the product B available.
(5) Avoid the requirement for more product A.
Formulate this as a goal programming problem.
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