6. Optimizing Product Mix. California Products Company has the capability of producing and selling three products. Each product has an annual demand potential (at current pricing and promotion levels), a variable contribution, and an annual fixed cost. The fixed cost can be avoided if the product is not produced at all. This information is summarized as follows: Product Demand Contribution Fixed Cost 290,000 $1.20 $60,000 200,000 1.80 200,000 50,000 2.30 55,000 I J K Each product requires work on three machines. The standard productivities and capacities are as follows: Hours per 1,000 Units Hours Available Machine Product I Product J Product K 3.205 3.846 7.692 2.747 4.808 6.410 1.923 3.205 9.615 A B C 1,900 1,900 1,900 a. Determine which products should be produced, and how much of each should be produced, in order to maximize profit contribution from these operations. b. Suppose the demand potential for product K were doubled. What would be the maximum profit contribution?

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Somet Health Insurance Company wants to sell a health insurance product for $700 permonth. There is no requirement for healthy people to have insurance coverage. Thecompany conducts a survey to see how different populations respond to the proposed cost.People with no illnesses and disabilities, generally the young and healthy, respond that theydo not spend $700 on healthcare in an entire year, and most feel they would not waste somuch money on premiums when the chance of needing surgery or expensive healthcaretreatments is so small. However, older, sicker people think that $700 per month is a greatdeal, as most of them spend far in excess of this amount on healthcare. It seems like agreat deal for them.    What will happen to the costs of the health insurance if only the older, sicker peopleenroll?

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