Explain the usefulness of the theory of constraints in the determination of the most profitable product mix for this furniture manufacturer.

More workers would need to be employed to improve productivity time

Explanation:

The theory of constraint looks at identifying vital factors that limit or stands as an obstruction in achieving a goal and soughting out ways of improving the situation till there is no limiting factor. This theory means that for the furniture manufacturer, for him to have more productivity, he would need to get more hands on deck, to quicken operations, reduce production time and improve productivity.

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

answer; is usually (less than) the socially optimal level of consumption;