Budnick, F. S. (1988). Applied mathematics for business, economics, and social sciences. McGraw-Hill.
Using the graphical method and simplex method, we solve the LP model and obtain the optimal solution: Budnick, F
x1 = 60, x2 = 80
This paper demonstrates the application of mathematical techniques in business economics, using concepts from Frank S. Budnick's "Applied Mathematics for Business, Economics, and Social Sciences". We present a case study on the use of linear programming in optimizing production and profit maximization for a manufacturing firm. The study highlights the practical relevance of mathematical modeling in business decision-making. Budnick, F
An Application of Mathematical Modeling in Business Economics: A Case Study Budnick, F
Maximize Profit = 3x1 + 4x2