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Bookco Publishers is considering publishing five textbooks. The maximum number of copies of each textbook that can be sold, the variable cost of producing each textbook, and the selling price of each textbook are given in the above table.

For example, producing 2000 copies of book 2 brings in a revenue of 2000 x $40 = $80K, and costs 2000 x $20 = $40K.

Bookco is limited by  two resources. One is capacity. They can produce at most 10,000 books in total. Second is budget. They have $170,000 to spend on producing the books.

Formulate a linear program mathematically to determine how Bookco can maximize its profit.  Create a spreadsheet model and solve using Solver.

Answer the following questions

What is the optimal solution (i.e. amount produced of each type of book)?

How many books are produced in total?

What is the optimal profit?

Does the optimal solution spend all the budget? If not, how much is leftover?