Introduction to Management Science 12th Edition by Bernard Taylor

Exercise 37

In Problem, explain the effect on the optimal solution of increasing the profit on a bracelet from $400 to $600. What will be the effect of changing the platinum requirement for a necklace from 2 ounces to 3 ounces
Problem
A jewelry store makes necklaces and bracelets from gold and platinum. The store has 18 ounces of gold and 20 ounces of platinum. Each necklace requires 3 ounces of gold and 2 ounces of platinum, whereas each bracelet requires 2 ounces of gold and 4 ounces of platinum. The demand for bracelets is no more than four. A necklace earns $300 in profit and a bracelet, $400. The store wants to determine the number of necklaces and bracelets to make in order to maximize profit.
a. Formulate a linear programming model for this problem.
b. Solve this model by using graphical analysis.