Zales Jeweller uses rubies and sapphires to produce two types of rings. A type 1 ring...
Zales Jeweller uses rubies and sapphires to produce two types of rings. A type 1 ring requires two rubies, three sapphires and one hour of jeweller’s labour time. A type 2 ring requires three rubies, two sapphires and two hours of jeweller’s labour time. Each type 1 ring sells for R1 200 and each type 2 ring sells for R1 500. All rings produced by Zales can be sold. At present, Zales has 100 rubies, 120 sapphires and 70 hours of jeweller’s labour time. Extra rubies can be bought at R300 per ruby. Market demand requires at least 20 type 1 rings and 24 type 2 rings.
What is the most that Zales will be willing to pay for another hour of jeweller’s labour time? How many hours may be obtained at this price?
Homework Answers
) What is the most that Zales will be willing to pay for
another hour of jeweller’s labour
time? How many hours may be obtained at this price? (7
marks)
ANS :-
zales will be willing to pay at most r600 (shadow price of jewellers labow time for another hour of jeweller labow time as allowable increase is 2 so 2 more howrs can be abtained in this price
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Zales Jeweller uses rubies and sapphires to produce two types of
rings. A type 1 ring...
Zales Jeweller uses rubies and sapphires to produce two types of rings. A type 1 ring...
Zales Jeweller uses rubies and sapphires to produce two types of rings. A type 1 ring requires two rubies, three sapphires and one hour of jewller's labour time. A type 2 ring requires three rubies, two sapphires and two hours of jeweller's labour time. Each type 1 ring sells for R1200 and each type 2 ring sells for R1500. All rings produced by Zales can be sold. At present, Zales has 100 rubies, 120 sapphires and 70 hours of jeweller's...
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