You have been called in as a consultant to a company that has just bought a factory that manufactures widgets: Mathematics Assignment, TCD, Ireland
| University | Trinity College Dublin (TCD) |
| Subject | Mathematics |
You have been called in as a consultant to a company that has just bought a factory that manufactures widgets. You will write a report advising the company on how to pitch the monthly level of production so as to maximize its monthly profit.
The factory has provided the following information:
- Monthly production cannot exceed 20,000
- There are fixed costs (rent, power, wages, etc.) per month of e125,000.
- The total costs per month at maximum capacity (20,000 widgets) amount to e445,000.
- There is some historical data relating the sale price per unit to the demand per month:
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