Geniue Antique Egyptian Artifacts, Inc. produces three varieties of
antique artifacts for sale to tourists: statuettes, lamps, and urns. All of
the artifacts include special clay. A statuette requires 13 ounces of clay,
a lamp uses 18 ounces, and each urn takes 17 ounces. Existing
capacity of clay is 28,000 ounces per month. A special material is also
used to produce the three artifacts, with each statuette needing 0.8
ounces, each lamp 0.7 ounces, and a typical urn requiring 1.0 ounces.
The company has inventory of 1,200 ounces of special material per
month. The owner of the company wishes to maintain a balanced
marketing program, and has ordered that production of statuettes to be
limited to 275. The overall per unit profit for artifacts is the following:
$199 per statuette, $99 per lamp, and $145 per urn. The owner wants to
know how much of each type of antique to fabricate monthly in order to
optimize profit.
A. What are the objective function, decision variables, and constraints for this optimization problem?B. Solve the linear problem developed in part (a), to determine the optimal production plan.