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When mathematicians are presented with a linear programming problem, they will not only determine the optimal solution but will also supply what are called shadow prices for each resource. This chapter project develops the concept of a shadow price.
Consider the furniture manufacturing problem. The constraint for finishing is
What is the new constraint for the finishing resource?
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Chapter 3 Solutions
Pearson eText for Finite Mathematics & Its Applications -- Instant Access (Pearson+)
- At the Pizza Dude restaurant, a 12-in. pizza costs 5.40 to make, and the manager wants to make at least 4.80 from the sale of each pizza. If the pizza will be sold by the slice and each pizza is cut into 6 pieces, what is the minimum charge per slice?arrow_forwardIf during the following year it is predicted that each comedy skit will generate 30 thousand and each musical number 20 thousand, find the maximum income for the year. A television program director must schedule comedy skits and musical numbers for prime-time variety shows. Each comedy skit requires 2 hours of rehearsal time, costs 3000, and brings in 20,000 from the shows sponsors. Each musical number requires 1 hour of rehearsal time, costs 6000, and generates 12,000. If 250 hours are available for rehearsal and 600,000 is budgeted for comedy and music, how many segments of each type should be produced to maximize income? Find the maximum income.arrow_forwardThe manufacturer of a weight training bench spends $15 to build each bench and sells them for $32. The manufacturer also has fixed costs each month of $25,500. (a) Find the cost function C when x benches are manufactured. (b) Find the revenue function R when x benches are sold. (c) Show the break-even point by graphing both the Revenue and Cost functions on the same grid. (d) Find the break-even point. Interpret what the break-even point means.arrow_forward
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- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillElementary Geometry For College Students, 7eGeometryISBN:9781337614085Author:Alexander, Daniel C.; Koeberlein, Geralyn M.Publisher:Cengage,
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