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Questions 2 through 10 will use this model.    A company makes chairs and tables.  The company makes $30 per chair and $40 per table.  The two resources are labor and wood.  A chair takes 1 hour of labor and 4 pounds of wood.   A table takes 2 hours of labor and 3 pounds of wood.  There are 40 hours of labor and 120 pounds of wood available each day.  The company wants to know how many chairs and tables to make each day in order to maximize profit.    What is the maximum profit?  (This should be from your answer in #9)

Questions 2 through 10 will use this model.    A company makes chairs and tables.  The company makes $30 per chair and $40 per table.  The two resources are labor and wood.  A chair takes 1 hour of labor and 4 pounds of wood.   A table takes 2 hours of labor and 3 pounds of wood.  There are 40 hours of labor and 120 pounds of wood available each day.  The company wants to know how many chairs and tables to make each day in order to maximize profit.    What are the decision variables?

Betty Malloy, owner of Eagle Tavern in Pittsburgh, is preparing for Super Bowl Sunday. She is determining how much beer to stock.  There are 3 brands, Yodel, Shotz, and Rainwater.  The cost per gallon is: Yodel = $1.50 per gallon Shotz = $ 0.90 per gallon Rainwater = $0.50 per gallon The tavern has a budget of $2000.  Betty sells Yodel for $3.00 per gallon, Shotz at $2.50 per gallon, and Rainwater at $1.75 per gallon.  Betty has determined that the maximum demand to be 400 gallons of Yodel, 500 gallons of Shotz, and 300 gallons of Rainwater. The tavern has the capacity to stock 1000 total gallons of beer. Betty wants to stock up completely. Betty wants to know how many gallons of each brand of beer in order to maximize PROFIT.      The decisions variables are

Questions 2 through 10 use this same model.    A company makes chairs and tables.  The company makes $30 per chair and $40 per table.  The two resources are labor and wood.  A chair takes 1 hour of labor and 4 pounds of wood.   A table takes 2 hours of labor and 3 pounds of wood.  There are 40 hours of labor and 120 pounds of wood available each day.  The company wants to know how many chairs and tables to make each day in order to maximize profit.    What are the constraints?

Questions 2 through 10 will use this model.    A company makes chairs and tables.  The company makes $30 per chair and $40 per table.  The two resources are labor and wood.  A chair takes 1 hour of labor and 4 pounds of wood.   A table takes 2 hours of labor and 3 pounds of wood.  There are 40 hours of labor and 120 pounds of wood available each day.  The company wants to know how many chairs and tables to make each day in order to maximize profit.  What point maximizes the profit? (x1, x2)

A company sells an item for $30 It costs $10 to make the item. The company had start up costs of $6000 How many items must the company make in order to break even?

Questions 2 through 10 use this same model.    A company makes chairs and tables.  The company makes $30 per chair and $40 per table.  The two resources are labor and wood.  A chair takes 1 hour of labor and 4 pounds of wood.   A table takes 2 hours of labor and 3 pounds of wood.  There are 40 hours of labor and 120 pounds of wood available each day.  The company wants to know how many chairs and tables to make each day in order to maximize profit.  What are the intercepts for the first constraint?

The objective equation (Be Careful!)

The demand constraints are  

The budget constraint is