A simplified economy involves just three commodity categories agriculture, manufacturing, and transportation, all in appropriate units.Production of 1 unit of agriculture requires 1/5 unit of manufacturing and 1/3 unit of transportation; production of 1 unit of manufacturingrequires 1/3 unit of agriculture and 1/3 unit of transportation; and production of 1 unit of transportation requires 1/4 unit of agriculture and1/3 unit of manufacturing. If the demand is 624 units of each commodity, how many units of each commodity should be produced?Find the input-output matrix, A, and the demand matrix, D, for this economy.The input-output matrix is(Type an integer or fraction for each matrix element.)

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Answered: A simplified economy involves just…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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QUESTION 1 Toys Limited (TL) produces two different types of wooden decorative toys in a factory, namely toy cars and toy soldiers. The production process consists of sawing, assembly and finishing. TL buys wood at N$100 per m³. There is an unlimited supply of wood. The weekly capacity of the sawing department is 600 labour hours, while the assembly and finishing departments are limited to 1200 labour hours each. TL has a market for 300 cars and 375 toy soldiers per week. Profit per toy is as follows: DETAILS Car N$ Soldiers N$ Selling price 250.00 200.00 Direct materials: Wood 36.00 53.00 Other 2.50 2.25 Direct labour: Sawing department 15.00 8.25 Assembly department 30.00 24.00 Finishing department 26.00 13.00 Variable overheads 19.20 16.00 Fixed overheads 7.20 6.00 Profit 114.10 77.50 The cost of labour per department is as follows: DETAILS N$ per hour Sawing…
A factory manufactures two products, A and B. Each product requires the use of three machines, Machine I, Machine II, and Machine III. The time requirements and total hours available on cach machine are listed below. Machine I Machine II Machine III Product A 1 2 4 Product B 2 2 2 Total hours 70 90 160 Table 6.1 If product A generates a profit of $60 per unit and product B a profit of $50 per unit, how many units of cach product should be manufactured to maximize profit, and what is the maximum profit?
A brewery produces regular beer and a lower-carbohydrate "'light" beer. Steady customers of the brewery buy 12 units of regular beer and 18 units of light beer monthly. While setting up the brewery to produce the beers, the management decides to produce extra beer, beyond that needed to satisfy customers. The cost per unit of regular beer is $32,000 and the cost per unit of light beer is $60,000. Every unit of regular beer brings in $100,000 in revenue, while every unit of light beer brings in $300,000 in revenue. The brewery needs at least $9,000,000 in revenue, and has determined that the total demand will be at least 50 units of beer. Complete parts (a) and (b). (a) How much of each type of beer should be made so as to minimize total production costs? ◻️units of regular beer and◻️ units of light beer should be made, for a minimum total cost of $◻️
A company produces 3 products. Each unit of product 1, 2, and 3 generate a profit of GH₵10, GH₵12, and GH₵12 respectively. Each product has to go through a manufacturing, assembly, and testing phase. The company’s resources are such that only 20 hours of manufacturing, 20 hours of assembly, and 20 hours of testing are available. Each unit of product 1 has to spend 1 hour in manufacturing, 2 hours in assembly, and 2 hours in testing. Each unit of product 2 has to spend 2 hours in manufacturing, 1 hour in assembly, and 2 hours in testing. Each unit of product 3 has to spend 2 hours in manufacturing, 2 hours in assembly, and 1 hour in testing. Company ABC wants to know how many units of each product it should produce, in order to maximize its profit.a) Formulate a linear programming model for this problem.
The monthly demand for Williams Tchotchkes (q measured in 1000s of tchotchkes) depends on the price that they set for their tchotchkes (p measured in dollars), the average price of substitutes for their tchotchkes (p, also measured in dollars), and the average monthly disposable income in the market for tchotchkes (y measured in $1000s). The current prices are p = $10 and p₁ = $11, the current monthly demand for Williams Tchotchkes is 8000 tchotchkes and the current average monthly disposable income in the tchotchkes market is $3500. Furthermore, it is known that Əq Op p=10 Pg=11 y=3.5 = -0.31, Əq aps P=10 Pg=11 y=3.5 = 0.44 and Əq dy p=10 Pg=11 y=3.5 = 0.72. Scenario 1: Suppose that p increases by $0.20, p, increases by $0.35 (from their current values), and income doesn't change. In this scenario, monthly demand for Williams Tchotchkes' monthly will [Select] , and Williams Tchotchkes' monthly revenue will [Select] Scenario 2: Now (instead) suppose that average monthly income in the…
A manufacturer can sell product 1 at a profit of $2/unit and product 2 at a profit of $5/unit. Three units of raw material are needed to manufacture 1 unit of product 1, and 6 units of raw material are needed to manufacture 1 unit of product 2. A total of 120 units of raw material are available.If any of product 1 is produced, a setup cost of $10 is incurred, and if any of product 2 is produced, a setup cost of $20 is incurred. Formulate an IP to maximize profits.
A company uses four special tank trucks to deliver four different gasoline products to customers. Eachtank has five compartments with capacities: 500, 750, 1200, 1500, and 1750 gallons. The daily demands forthe four products are 10000, 15000, 12000, and 8000 gallons. Any quantities that cannot be delivered by thecompany’s four trucks must be subcontracted at the additional costs of 5, 12, 8, and 10 cents per gallon forproducts 1, 2, 3, and 4, respectively. The goal is to develop the optimal daily loading schedule for the fourtrucks that will minimize the additional cost of subcontracting. Formulate this problem as an integer linearprogram, and solve it using linear program solver.
XYZ Corporation operates two plants, each of which has a capacity of 200 units per day. Each day, XYZ must ship their product to each of four customers. Customers A, B, and C each have a demand of 17 units per day while customer D has a demand of 349 units per day. The cost of shipping one unit of each product from each of the two plants to each of the customers is shown in the table below. Customer A Customer B Customer C Customer D Plant 1 25 19 12 14 Plant 2 15 21 23 20 How many units should XYZ ship from each plant to each customer?
kindly answer items (d) and (e)
A company is dedicated to the production of different vegetable-flavored milks. Currently the company produces two types of milk: almond and coconut, which it sells at $ 5,000 and $ 2,000 / liter respectively. Milk production is subject to the use of machine hours in the production plant and of water as a fundamental resource. It takes 1 machine-hour and 2 liters of water to produce 1 liter of almond milk, while it takes 3 machine-hours and 1 liter of water to produce 1 liter of coconut milk. The company currently has 100 machine-hours and 50 liters of water to make the milk, and it is also required to make at least 30 liters of milk in total. 1. Set up the linear programming model in standard format.2. Determine all the basic solutions to the problem. Identify which ones are feasible and which ones are not. Analyze what happens graphically.3. Determine an initial feasible basic solution using phase I. In each iteration, write the resulting model in dictionary format and analyze what…
Firms Alpha and Beta serve the same market. They have constant average costs of $2 per unit. The firms can choose either a high price ($10) or a low price ($5) for their output. When both firms set a high price, total demand is 10,000 units which is split evenly between the two firms. When both set a low price, total demand is 18,000, which is again split evenly. If one firm sets a low price and the second a high price, the low priced firm sells 15,000 units, the high priced firm only 2,000 units. Analyze the pricing decisions of the two firms as a non-cooperative game. Derive the dominant strategy equilibrium of this game. Explain why this is an example of the prisoners’ dilemma game.
A company manufactures Products A, B, and C. Each product is processed in three departments: I, II, and III. The total available labor-hours per week for Departments I, II, and III are 780, 960, and 720, respectively. The time requirements (in hours per unit) and the profit per unit for each product are as follows. Dept. I Dept. II Dept. II Profit 144 Product A 240 2 3 2 $18 X Product B If management decides that the number of units of Product B manufactured must equal or exceed the number of units of products A and C manufactured, how many units of each product should the company produce to maximize its profit? product A 0 product B product C 1 1 2 $12 What is the maximum profit (in dollars)? $ 7038 X Product C 2 2 1 $15

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