Math Problem Statement
You wish to export three products A, B, and C. The amount available is Rs. 4,00,000/–. Product A costs Rs. 8000/– per unit and occupies after packing 30 cubic meters. Product B costs Rs. 13,000/– per unit and occupies after packing 60 cubic meters and product C costs Rs. 15,000/–per unit and occupies 60 cubic meters after packing. The profit per unit of A is Rs. 1000/–, of B is Rs. 1500/– and of C is Rs. 2000/–. The shipping company can accept a maximum of 30 packages and has storage space of 1500 cubic meters. How many of each product should be bought and shipped to maximize profit? The export potential for each product is unlimited. Show that this problem has two basic optimum solutions and find them. Which of the two solutions do you prefer? Give reasons.
Solution
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Math Problem Analysis
Mathematical Concepts
Linear Programming
Optimization
Formulas
Simplex Method
Theorems
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Suitable Grade Level
Advanced College Level
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