The next few questions refer to the following information:
A company wants to determine the optimal product mix between Product A and Product B. The cost of producing the products is nonlinear (cubed for Product A, quadratic for Product B) so that the objective function is:
Max 4A + 6B - A3 - 2B2
The constraints are:
A + 3B <= 8
5A + 2B <= 14
A >= 0, B >= 0
1.Using Solver's GRG Nonlinear solution algorithm find the optimal solution to this problem and describe it.
2. Screenshot of your spreadsheet setup for this problem
3. A screenshot of your Solver setup for this problem.