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Minimum Cost and Maximum Production
Maximum Profit Criterion 11 19
9 other sections not shown
allowable feed rate Armarego and Russell cost and maximum cost cutting speed cost per piece cutting conditions cutting speed yields demand contour demand function demand volume requirement different feed rates example excluding material cost f-V log-log coordinates f-V plane feed f figure 9 fixed demand fractional factorial design fulfill the demand INIHd loci machine tool marginal principle marginal revenue maximum allowable feed maximum production rate MAXIMUM PROFIT CRITERION maximum profit cutting maximum profit locus maximum profit response min/pc minimum cost cutting minimum cost locus O*OO O*TO O6OO O9OO obtained ocoo OETO OfiOO OfrTO OO'O OO'S OO'SOT OO'T OOTO optimum cutting speed OSTO OTTO over-production OZOO OZTO parameters pcs/min production capacity production rate locus PROFIT CONTOUR profit cutting speed profit region Q2TO range of cutting required demand volume selling price sfpm Figure shown in figure tool cost total cost unit item basis variation zero-profit boundaries