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Your first… Show more Suppose that you are a local busines

study Bay algebra Your first… Show more Suppose that you are a local busines

algebra

Your first… Show more Suppose that you are a local busines

Your first… Show more Suppose that you are a local business owner and you have products that you want to sell. Your first step is to identify what type of business you want to own and then identify two products that you want to produce and sell. You will start you business with $10,000. For this project, ignore costs associated with keeping the business running, like rent, heat, electric, etc. Assume that all costs are already taken care of, and the $10,000 you have is just for producing your product. The only restriction you have in terms of spending the $10,000 is that you can not spend more than three quarters of it on the production of one of the products. Use linear programming to set up a profit model for your business. You will need to arbitrarily assign costs for the production of each product, and then determine how much you are going to sell your product for. You will then develop a profit model and set up a system of restrictions. You will need to graph those restrictions and then determine what you will need to sell in order to maximize your profit. You will want to set up a table to help you organize your data. Make sure that you clearly identify your profit model and restrictions. • Show less

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