A manufacturer produces a product consisting of two raw materials, say A1 and A2. The production function is non-linear and estimated as: Z = 3.6x1 – 0.4x1^2 + 1.6x2 –0.2x2^2 where Z represents the quantity (in tons) of the product produced , and x1 and x2 designate the input amounts of raw materials A1 and A2. - The company has Dhs 50,000 to spend on these two raw materials. - The unit price of A1 is Dhs 10,000 and A2 is Dhs 5,000. Use Solver in excel to determine how much should be the input x1 and x2 so as to maximize the production output.
Maximize production output (NLP problem)?
- Posted:
- 3+ months ago by josett
- Topics:
- raw, production, material, product, linear, produce, problem, manufacturer
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