u are given a linear programming problem. Maximize P = 6.5x + 4y subject to 2x + 3y ≤12 2x + y ≤ 8 ΥΣ 0 x 20 (a) Use the method of corners to solve the problem. at (x, y) = The maximum is P = Resource 1 Resource 2

Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter8: Functions
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You are given a linear programming problem.
Maximize P= 6.5x + 4y
subject to
2x + 3y ≤ 12
2x + y ≤ 8
Resource 1
Resource 2
ΥΣ 0
x > 0
(a) Use the method of corners to solve the problem.
at (x, y) =
The maximum is P =
(b) Suppose P = cx + 4y. Find the range of values that the coefficient c of x can assume without changing the optimal solution.
≤c≤
(c) Find the range of values that Resource 1 can assume.
≤ (Resource 1) <
(d) Find the shadow price for Resource 1.
(e) Identify the binding and nonbinding constraints.
constraint 1 ---Select--- ✓
constraint 2 ---Select--- ✓
Transcribed Image Text:You are given a linear programming problem. Maximize P= 6.5x + 4y subject to 2x + 3y ≤ 12 2x + y ≤ 8 Resource 1 Resource 2 ΥΣ 0 x > 0 (a) Use the method of corners to solve the problem. at (x, y) = The maximum is P = (b) Suppose P = cx + 4y. Find the range of values that the coefficient c of x can assume without changing the optimal solution. ≤c≤ (c) Find the range of values that Resource 1 can assume. ≤ (Resource 1) < (d) Find the shadow price for Resource 1. (e) Identify the binding and nonbinding constraints. constraint 1 ---Select--- ✓ constraint 2 ---Select--- ✓
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