Introduction to Management Science 12th Edition by Bernard Taylor

Exercise 41

In Problem:
a. The maximum demand for bracelets is 4. If the store produces the optimal number of bracelets and necklaces, will the maximum demand for bracelets be met If not, by how much will it be missed
b. What profit for a necklace would result in no bracelets being produced, and what would be the optimal solution for this profit
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.