Assume you are producing two types of cars: Type1 and Type2….
Assume you are producing two types of cars: Type1 and Type2. Type1 is cheaper to produce at $12,500 per car, while Type2 costs $33,500 per car. Type1 cars sell for $14,000, while Type2 cars can be sold for $38,000. Both cars require certain types of computer chips, which are limited to 300. Type1 cars require 3 chips, while Type2 cars require 5. In addition, there are at most 1000 person-hours of labor that can be devoted to producing either car, with Type1 cars taking 20 person-hours per car and Type2 taking 10 person-hours per car. How many Type1 cars should be produced to maximize profits?