Question 1 (50 points) A jewelry store makes necklaces and bracelets from gold and platinum. The store has 18 ounces of gold and 20 ounces of platinum. Each necklace requires 3 ounces of gold and 2 ounces of platinum, whereas each bracelet requires 2 ounces of gold and 4 ounces of platinum. The demand for bracelets is no more than four. A necklace earns $300 in profit and a bracelet, $400. The store wants to determine the number of necklaces and bracelets to make in order to maximize profit. 1. Formulate a linear programming model for this problem. 2. Solve this model by using graphical analysis. 3. explain the effect on the optimal solution of increasing the profit on a bracelet from $400 to $600. What will be the effect of changing the platinum requirement for a necklace from 2 ounces to 3 ounces? 4. The maximum demand for bracelets is 4. If the store produces the optimal number of bracelets and necklaces, will the maximum demand for bracelets be met? If not, by how much will it be missed? 5. What profit for a necklace would result in no bracelets being produced, and what would be the optimal solution for this profit?
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