The Attaran Corporation manufactures two electrical products: portable air conditioners and portable heaters. The assembly proc
ess for each is similar in that both require a certain amount of wiring and drilling. Each air conditioner takes 3 hours of wiring and 2 hours of drilling. Each heater must go through 2 hours of wiring and 1 hour of drilling. During the next production period, 240 hours of wiring time are available and up to 140 hours of drilling time may be used. Each air conditioner sold yields a profit of $20. Each heater assembled may be sold for a $13 profit. The aim of the objective function for Attaran Corporation should be to Maximize the objective value. The optimum solution is: Number of air conditioners to be produced = nothing (round your response to two decimal places).
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<u>Given:</u>
Real GDP of US = 32000
Growth rate of US = 2%
Real GDP of China = 4000
Growth rate of China = 7%
<u>To find:</u>
Number of years taken for China's real GDP per capita to be larger than real GDP per capita in the United States.
<u>Solution:</u>
The formula to calculate the years is,
On plugging-in the values,
On solving the values we get,
Therefore, we can clearly identify that number of years is greater than 40 and less than 45.