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Two business owners Shveta and Ashok run their businesses in two different states. Each of them, independent of the other, produces two products A and B, sells them at Rs. 2,000 per kg and Rs, 3,000 per kg, respectively, and uses Linear Programming to determine the optimal quantity of A and B to maximize their respective daily revenue.
Their constraints are as follows:
i) for each business owner, the production process is such that the daily production of A has to be at least as much as B, and the upper limit for production of B is 10 kg per day, and
ii) the respective state regulations restrict Shveta’s production of A to less than 20 kg per day and Ashok's production of A to less than 15 kg per day. The demand of both A and B in both the states is very high and everything produced is sold.
The absolute value of the difference in daily (optimal) revenue of Shveta and Ashok is ________ thousand Rupees (round off to 2 decimal places)
Their constraints are as follows:
i) for each business owner, the production process is such that the daily production of A has to be at least as much as B, and the upper limit for production of B is 10 kg per day, and
ii) the respective state regulations restrict Shveta’s production of A to less than 20 kg per day and Ashok's production of A to less than 15 kg per day. The demand of both A and B in both the states is very high and everything produced is sold.
The absolute value of the difference in daily (optimal) revenue of Shveta and Ashok is ________ thousand Rupees (round off to 2 decimal places)
Correct answer is '10'. Can you explain this answer?
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Verified Answer
Two business owners Shveta and Ashok run their businesses in two diffe...
Maximum z = 2000x1 + 3000 x2
A → x1 units
x1 ≥ x2
B → x2 units
x2 ≥ 10
x1 < 20
x1 < 15
Shveta’s Profit = Rs. 70000 at (20, 10)
Ashok’s Profit = Rs. 60000 at (15, 10)
Difference Rs. 10000
A → x1 units
x1 ≥ x2
B → x2 units
x2 ≥ 10
x1 < 20
x1 < 15
Shveta’s Profit = Rs. 70000 at (20, 10)
Ashok’s Profit = Rs. 60000 at (15, 10)
Difference Rs. 10000
Most Upvoted Answer
Two business owners Shveta and Ashok run their businesses in two diffe...
Analysis of the Problem
Given Data:
- Shveta sells products A and B at Rs. 2,000 per kg and Rs. 3,000 per kg respectively.
- Ashok sells products A and B at the same prices as Shveta.
- Constraints on production for both Shveta and Ashok.
Objective:
To find the absolute difference in daily revenue between Shveta and Ashok.
Optimization Problem
Formulation:
- Let x be the quantity of A produced by Shveta and y be the quantity of B produced by Shveta.
- Let u be the quantity of A produced by Ashok and v be the quantity of B produced by Ashok.
- Maximize revenue for Shveta: 2000x + 3000y
- Maximize revenue for Ashok: 2000u + 3000v
Constraints:
1. x >= y, y <= 10,="" x=""><= 20="" (for="">
2. u >= v, v <= 10,="" u=""><= 15="" (for="">
Solving the Linear Programming Problems:
- Solve the LP problem for Shveta and Ashok separately to find their optimal production quantities.
Calculating the Absolute Difference in Daily Revenue:
- Calculate the daily revenue for both Shveta and Ashok using their optimal production quantities.
- Find the absolute difference in their daily revenues.
Conclusion:
The absolute difference in daily revenue between Shveta and Ashok is Rs. 10,000.
Given Data:
- Shveta sells products A and B at Rs. 2,000 per kg and Rs. 3,000 per kg respectively.
- Ashok sells products A and B at the same prices as Shveta.
- Constraints on production for both Shveta and Ashok.
Objective:
To find the absolute difference in daily revenue between Shveta and Ashok.
Optimization Problem
Formulation:
- Let x be the quantity of A produced by Shveta and y be the quantity of B produced by Shveta.
- Let u be the quantity of A produced by Ashok and v be the quantity of B produced by Ashok.
- Maximize revenue for Shveta: 2000x + 3000y
- Maximize revenue for Ashok: 2000u + 3000v
Constraints:
1. x >= y, y <= 10,="" x=""><= 20="" (for="">
2. u >= v, v <= 10,="" u=""><= 15="" (for="">
Solving the Linear Programming Problems:
- Solve the LP problem for Shveta and Ashok separately to find their optimal production quantities.
Calculating the Absolute Difference in Daily Revenue:
- Calculate the daily revenue for both Shveta and Ashok using their optimal production quantities.
- Find the absolute difference in their daily revenues.
Conclusion:
The absolute difference in daily revenue between Shveta and Ashok is Rs. 10,000.
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Two business owners Shveta and Ashok run their businesses in two different states. Each of them, independent of the other, produces two products A and B, sells them at Rs. 2,000 per kg and Rs, 3,000 per kg, respectively, and uses Linear Programming to determine the optimal quantity of A and B to maximize their respective daily revenue.Their constraints are as follows:i) for each business owner, the production process is such that the daily production of A has to be at least as much as B, and the upper limit for production of B is 10 kg per day, andii) the respective state regulations restrict Shveta’s production of A to less than 20 kg per day and Ashoks production of A to less than 15 kg per day. The demand of both A and B in both the states is very high and everything produced is sold.The absolute value of the difference in daily (optimal) revenue of Shveta and Ashok is ________ thousand Rupees (round off to 2 decimal places)Correct answer is '10'. Can you explain this answer?
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Two business owners Shveta and Ashok run their businesses in two different states. Each of them, independent of the other, produces two products A and B, sells them at Rs. 2,000 per kg and Rs, 3,000 per kg, respectively, and uses Linear Programming to determine the optimal quantity of A and B to maximize their respective daily revenue.Their constraints are as follows:i) for each business owner, the production process is such that the daily production of A has to be at least as much as B, and the upper limit for production of B is 10 kg per day, andii) the respective state regulations restrict Shveta’s production of A to less than 20 kg per day and Ashoks production of A to less than 15 kg per day. The demand of both A and B in both the states is very high and everything produced is sold.The absolute value of the difference in daily (optimal) revenue of Shveta and Ashok is ________ thousand Rupees (round off to 2 decimal places)Correct answer is '10'. Can you explain this answer? for GATE 2024 is part of GATE preparation. The Question and answers have been prepared according to the GATE exam syllabus. Information about Two business owners Shveta and Ashok run their businesses in two different states. Each of them, independent of the other, produces two products A and B, sells them at Rs. 2,000 per kg and Rs, 3,000 per kg, respectively, and uses Linear Programming to determine the optimal quantity of A and B to maximize their respective daily revenue.Their constraints are as follows:i) for each business owner, the production process is such that the daily production of A has to be at least as much as B, and the upper limit for production of B is 10 kg per day, andii) the respective state regulations restrict Shveta’s production of A to less than 20 kg per day and Ashoks production of A to less than 15 kg per day. The demand of both A and B in both the states is very high and everything produced is sold.The absolute value of the difference in daily (optimal) revenue of Shveta and Ashok is ________ thousand Rupees (round off to 2 decimal places)Correct answer is '10'. Can you explain this answer? covers all topics & solutions for GATE 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Two business owners Shveta and Ashok run their businesses in two different states. Each of them, independent of the other, produces two products A and B, sells them at Rs. 2,000 per kg and Rs, 3,000 per kg, respectively, and uses Linear Programming to determine the optimal quantity of A and B to maximize their respective daily revenue.Their constraints are as follows:i) for each business owner, the production process is such that the daily production of A has to be at least as much as B, and the upper limit for production of B is 10 kg per day, andii) the respective state regulations restrict Shveta’s production of A to less than 20 kg per day and Ashoks production of A to less than 15 kg per day. The demand of both A and B in both the states is very high and everything produced is sold.The absolute value of the difference in daily (optimal) revenue of Shveta and Ashok is ________ thousand Rupees (round off to 2 decimal places)Correct answer is '10'. Can you explain this answer?.
Two business owners Shveta and Ashok run their businesses in two different states. Each of them, independent of the other, produces two products A and B, sells them at Rs. 2,000 per kg and Rs, 3,000 per kg, respectively, and uses Linear Programming to determine the optimal quantity of A and B to maximize their respective daily revenue.Their constraints are as follows:i) for each business owner, the production process is such that the daily production of A has to be at least as much as B, and the upper limit for production of B is 10 kg per day, andii) the respective state regulations restrict Shveta’s production of A to less than 20 kg per day and Ashoks production of A to less than 15 kg per day. The demand of both A and B in both the states is very high and everything produced is sold.The absolute value of the difference in daily (optimal) revenue of Shveta and Ashok is ________ thousand Rupees (round off to 2 decimal places)Correct answer is '10'. Can you explain this answer? for GATE 2024 is part of GATE preparation. The Question and answers have been prepared according to the GATE exam syllabus. Information about Two business owners Shveta and Ashok run their businesses in two different states. Each of them, independent of the other, produces two products A and B, sells them at Rs. 2,000 per kg and Rs, 3,000 per kg, respectively, and uses Linear Programming to determine the optimal quantity of A and B to maximize their respective daily revenue.Their constraints are as follows:i) for each business owner, the production process is such that the daily production of A has to be at least as much as B, and the upper limit for production of B is 10 kg per day, andii) the respective state regulations restrict Shveta’s production of A to less than 20 kg per day and Ashoks production of A to less than 15 kg per day. The demand of both A and B in both the states is very high and everything produced is sold.The absolute value of the difference in daily (optimal) revenue of Shveta and Ashok is ________ thousand Rupees (round off to 2 decimal places)Correct answer is '10'. Can you explain this answer? covers all topics & solutions for GATE 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Two business owners Shveta and Ashok run their businesses in two different states. Each of them, independent of the other, produces two products A and B, sells them at Rs. 2,000 per kg and Rs, 3,000 per kg, respectively, and uses Linear Programming to determine the optimal quantity of A and B to maximize their respective daily revenue.Their constraints are as follows:i) for each business owner, the production process is such that the daily production of A has to be at least as much as B, and the upper limit for production of B is 10 kg per day, andii) the respective state regulations restrict Shveta’s production of A to less than 20 kg per day and Ashoks production of A to less than 15 kg per day. The demand of both A and B in both the states is very high and everything produced is sold.The absolute value of the difference in daily (optimal) revenue of Shveta and Ashok is ________ thousand Rupees (round off to 2 decimal places)Correct answer is '10'. Can you explain this answer?.
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Two business owners Shveta and Ashok run their businesses in two different states. Each of them, independent of the other, produces two products A and B, sells them at Rs. 2,000 per kg and Rs, 3,000 per kg, respectively, and uses Linear Programming to determine the optimal quantity of A and B to maximize their respective daily revenue.Their constraints are as follows:i) for each business owner, the production process is such that the daily production of A has to be at least as much as B, and the upper limit for production of B is 10 kg per day, andii) the respective state regulations restrict Shveta’s production of A to less than 20 kg per day and Ashoks production of A to less than 15 kg per day. The demand of both A and B in both the states is very high and everything produced is sold.The absolute value of the difference in daily (optimal) revenue of Shveta and Ashok is ________ thousand Rupees (round off to 2 decimal places)Correct answer is '10'. Can you explain this answer?, a detailed solution for Two business owners Shveta and Ashok run their businesses in two different states. Each of them, independent of the other, produces two products A and B, sells them at Rs. 2,000 per kg and Rs, 3,000 per kg, respectively, and uses Linear Programming to determine the optimal quantity of A and B to maximize their respective daily revenue.Their constraints are as follows:i) for each business owner, the production process is such that the daily production of A has to be at least as much as B, and the upper limit for production of B is 10 kg per day, andii) the respective state regulations restrict Shveta’s production of A to less than 20 kg per day and Ashoks production of A to less than 15 kg per day. The demand of both A and B in both the states is very high and everything produced is sold.The absolute value of the difference in daily (optimal) revenue of Shveta and Ashok is ________ thousand Rupees (round off to 2 decimal places)Correct answer is '10'. Can you explain this answer? has been provided alongside types of Two business owners Shveta and Ashok run their businesses in two different states. Each of them, independent of the other, produces two products A and B, sells them at Rs. 2,000 per kg and Rs, 3,000 per kg, respectively, and uses Linear Programming to determine the optimal quantity of A and B to maximize their respective daily revenue.Their constraints are as follows:i) for each business owner, the production process is such that the daily production of A has to be at least as much as B, and the upper limit for production of B is 10 kg per day, andii) the respective state regulations restrict Shveta’s production of A to less than 20 kg per day and Ashoks production of A to less than 15 kg per day. The demand of both A and B in both the states is very high and everything produced is sold.The absolute value of the difference in daily (optimal) revenue of Shveta and Ashok is ________ thousand Rupees (round off to 2 decimal places)Correct answer is '10'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Two business owners Shveta and Ashok run their businesses in two different states. Each of them, independent of the other, produces two products A and B, sells them at Rs. 2,000 per kg and Rs, 3,000 per kg, respectively, and uses Linear Programming to determine the optimal quantity of A and B to maximize their respective daily revenue.Their constraints are as follows:i) for each business owner, the production process is such that the daily production of A has to be at least as much as B, and the upper limit for production of B is 10 kg per day, andii) the respective state regulations restrict Shveta’s production of A to less than 20 kg per day and Ashoks production of A to less than 15 kg per day. The demand of both A and B in both the states is very high and everything produced is sold.The absolute value of the difference in daily (optimal) revenue of Shveta and Ashok is ________ thousand Rupees (round off to 2 decimal places)Correct answer is '10'. Can you explain this answer? tests, examples and also practice GATE tests.
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