Step 1 :This is a linear programming problem. We need to maximize the profit function subject to the constraints of available labor hours for fabrication and assembly.
Step 2 :The profit function is \(7A + 8B + 10C\), where A, B, and C are the number of components A, B, and C to be manufactured.
Step 3 :The constraints are \(2A + 3B + 2C \leq 950\) (fabrication time) and \(A + B + 2C \leq 700\) (assembly time).
Step 4 :We also have the constraints \(A \geq 0\), \(B \geq 0\), and \(C \geq 0\) since we can't manufacture a negative number of components.
Step 5 :We can solve this problem using a linear programming solver.
Step 6 :The optimal solution given by the linear programming solver is to manufacture 250 units of component A, 0 units of component B, and 225 units of component C.
Step 7 :The maximum profit is $4000.
Step 8 :Final Answer: The company should manufacture \(\boxed{250}\) component As, \(\boxed{0}\) component Bs, and \(\boxed{225}\) component Cs to maximize their profit at \(\boxed{\$4000}\).