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In: Advanced Math

The Company manufactures paring knives and pocket knives. Each paring knife requires 3​ labor-hours, 7 units...

The Company manufactures paring knives and pocket knives. Each paring knife requires 3​ labor-hours, 7 units of​ steel, and 4 units of wood. Each pocket knife requires 6​ labor-hours, 5 units of​ steel, and 3 units of wood. The profit on each paring knife is​ $3, and the profit on each pocket knife is​ $5. Each day the company has available 96 ​labor-hours, 134 units of​ steel, and 120 units of wood. Suppose that the number of​ labor-hours that are available each day is increased by 27. Use sensitivity analysis to determine the effect on the optimal number of knives produced and on the profit.

The Company should produce___ paring knives and ___ pocket knives each day for a profit of

​$_____.

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Expert Solution

Colby Messinger answered 2 years ago
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