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Lego™ Exercise

Lego™ Exercise. Happy 50 th Birthday Lego January 28, 2008. Resource Allocation/Product Mix. Issue Given a set of limited resources, how many units of each product should we manufacture in order to maximize profit?. Materials. 8 small Lego™ blocks 6 large Lego™ blocks. Tables Materials

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Lego™ Exercise

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  1. Lego™ Exercise

  2. Happy 50th Birthday LegoJanuary 28, 2008

  3. Resource Allocation/Product Mix • Issue • Given a set of limited resources, how many units of each product should we manufacture in order to maximize profit?

  4. Materials • 8 small Lego™ blocks • 6 large Lego™ blocks

  5. Tables Materials 2 large lego blocks 2 small lego blocks Profit $17 per table Chairs Materials 1 large lego blocks 2 small lego blocks Profit $10 per chair Products

  6. Questions • Given the available resources, the product requirements and profits: • How many tables and chairs should be manufactured in order to maximize the profit? • What is the maximal profit?

  7. Tables Materials 2 large lego blocks 2 small lego blocks Profit $17 per table Chairs Materials 1 large lego blocks 2 small lego blocks Profit $10 per chair Summary • If 8 small blocks and 6 large blocks are available, how many chairs and tables should be made in order to maximize the total profit and what is the maximum total profit?

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