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Business, 02.04.2021 03:30 jackievelasquez7881

There is a new production process available to you which takes 2 years instead of 1, but has lower costs. You have also received a pre-order for 2 units of chairs for year 2 that you must meet. Assume that you are currently in year 1, but you may choose to use this new process and shift production to year 2 which will lower your costs due to new technology to be the following: tables require .5 units of metal and chairs require 1 unit of metal, while tables require 2 units of wood and chairs still require 1 unit of wood. You also have the option of producing a new product: An all metal barstool which sells for $300 and that requires zero wood but 15 units of metal, and will only be available in time to be sold in year 2. Lastly, your accounting department has indicated that your discount rate is .95 per year. What should you produce and in what year

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