Two or more products are produced using limited resources. The firm would like to determine how many units of each product it should produce to maximize overall profit given its limited resources. This situation describes what type of problem in linear programming?

Question

Business

Lainey Galloway

14 February, 14:20

Two or more products are produced using limited resources. The firm would like to determine how many units of each product it should produce to maximize overall profit given its limited resources. This situation describes what type of problem in linear programming?

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Answers (1)

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Pooh · Answer 1

Answer: Product-mix

Explanation:

From the given case/scenario, we can state that this situation describes the problem of product-mix. Product mix that is also known as or referred to as product assortment, tends to refer to total number of product/commodity lines that an organization offers to an individual or to its customers. There are four dimensions to an organization's product mix, these are length, width, consistency and depth.