For each of the following two LP models, respond to the following questions using graphic tools and algebraic methods only: d) Find the shadow prices of each of the constraints e) Compute the amount by which the objective function changes, if the right-hand side of one of the constraints increases by 8%. Model 2 Maximize f = 7x + 5y subject to the following constraints: 3x + 4y < 2x + 1y≤ x ≥ 1 24 10 y ≤ 5 x and y are non-negative

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Please use graphic tools and algebra method to answer this question

For each of the following two LP models, respond to the following questions using graphic tools
and algebraic methods only:
d) Find the shadow prices of each of the constraints
e) Compute the amount by which the objective function changes, if the right-hand side of
one of the constraints increases by 8%.
Model 2
Maximize f = 7x + 5y subject to the following constraints:
3x + 4y <
2x + 1y ≤
x ≥ 1
24
10
y ≤ 5
x and y are non-negative
Transcribed Image Text:For each of the following two LP models, respond to the following questions using graphic tools and algebraic methods only: d) Find the shadow prices of each of the constraints e) Compute the amount by which the objective function changes, if the right-hand side of one of the constraints increases by 8%. Model 2 Maximize f = 7x + 5y subject to the following constraints: 3x + 4y < 2x + 1y ≤ x ≥ 1 24 10 y ≤ 5 x and y are non-negative
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