Answered: what is the new optimal solution?…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Each coffee table produced by Kevin Watson Designer nets the firm a profit of $9. Each book case yields a $12 Profit. Watson's fim is small and it resources limited. During any given production period ( of 1 week ),10 gallons of varnish and 12 lenght of high-quality redwood are available. Each coffee table requires approximately 1 gallon of varnish and 1 lenght of redwood. Each bookcase takes 1 gallon of varnish and 2 lenghts of wood.

if the profit for the coffee table is increased from $ 9 to $ 15, what is the new optimal

solution? (also, you should show the process of how to get new optimal solution)

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