(Answered) Identify the objective function1 determine the total profit

Economics

Identify the objective function.

1. Determine the total profit to be made if the company produces a combination of cases of Brand X and Brand Y that lies on the black-dashed objective function line (profit line), as shown on the graph in the attached "QAT1 Task 2 Spreadsheet."

B. Write the four constraints that are described in the scenario given in the attached "QAT1 Task 2 Spreadsheet."

1. Describe why each of the four written constraints from part B is a minimum or a maximum constraint.

C. Analyze the optimum production yielding the greatest amount of profit by doing the following:

1. Determine the number of cases of Brand X that should be produced, showing all of your work.

2. Determine the number of cases of Brand Y that should be produced, showing all of your work.

3. Discuss how the feasible region was used to arrive at your calculations for parts C1 and C2.

4. Determine the total profit that would be generated by the production levels determined in parts C1 and C2, showing all of your work.

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Microeconomics, Economics

Category:- Microeconomics
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