You are given a linear programming problem. Maximize      P = 6x + 4y subject to   2x  +  3y  ≤ 12      Resource 1   2x  +  y  ≤ 8   Resource 2       y  ≥ 0         x  ≥ 0   (a) Use the method of corners to solve the problem. The maximum is P =  at  (x, y) =              . (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          constraint 2

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
icon
Related questions
Question

You are given a linear programming problem.

Maximize      P = 6x + 4y

subject to   2x  +  3y  ≤ 12      Resource 1
  2x  +  y  ≤ 8   Resource 2
      y  ≥ 0  
      x  ≥ 0  
(a) Use the method of corners to solve the problem.
The maximum is P =  at 
(x, y) = 
 
 
 
 
 
 
 
.
(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         
constraint 2      
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 4 images

Blurred answer
Similar questions
Recommended textbooks for you
Practical Management Science
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Business in Action
Business in Action
Operations Management
ISBN:
9780135198100
Author:
BOVEE
Publisher:
PEARSON CO
Purchasing and Supply Chain Management
Purchasing and Supply Chain Management
Operations Management
ISBN:
9781285869681
Author:
Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:
Cengage Learning
Production and Operations Analysis, Seventh Editi…
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.