(b) The number of machine hours required for each unit of the respective products is shown in the following table. Suppose that the unit costs for producing products 1, 2, and 3 are RM 25, RM 10, and RM 15, respectively, and that the prices required (in RM) in order to be able to sell x_1, x_2, and x_3 units are (35 + 100x^-1/3_1), (15 + 40x^-1/4_2), and (20 + 50x^-1/2_3), respectively. (i) Formulate a nonlinear programming model for the problem of determining how many units of each product the firm should produce to maximize the profit. (ii) Verify that this problem is a convex programming problem.
As there is no limit, it can go as much as it can, so there needs to be additional constrain for the same.
|Mc Type||Prod 1||Prod 2||Prod 3|
This is a sample not the optimal solution. Optimal solution is infinity.