Let x and y be the number of necklaces and bracelets manufactured by small firm per day. If P be the profit, then objective function is given by
P = 100x + 300y which is to be maximised under the constrains
x + y ≤ 24 ...(i)
12x + y ≤ 16 ...(ii)
x ≥ 1, y ≥ 1 ...(iii)