Wild West produces two types of cowboy hats. A Type 1 hat requires three times as much labor time as a Type If all the available labor time is dedicated to Type 2 alone, the company can produce a total of 600 Type 2 hats a day. The respective market limits for Type 1 and Type 2 are 150 and 300 hats per day, respectively. The profit is $8 per Type 1 hat and $5 per Type 2 hat. Determine the maximum profit. A 3200 B 2300 с 2100 D 3400 E 1950

Wild West produces two types of cowboy hats. A Type 1 hat requires three times as much labor time as a Type If all the available labor time is dedicated to Type 2 alone, the company can produce a total of 600 Type 2 hats a day. The respective market limits for Type 1 and Type 2 are 150 and 300 hats per day, respectively. The profit is $8 per Type 1 hat and $5 per Type 2 hat. Determine the maximum profit. A 3200 B 2300 с 2100 D 3400 E 1950

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter11: Profit Maximization

Section: Chapter Questions

Problem 11.4P

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