In Exercises 9-22, solve the given standard minimization problem using duality: (You may already have seen some of these in earlier sections, but now you will be solving them using a different method.] [HINT: See Example 1]
Minimize
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- 23. Consider a simple economy with just two industries: farming and manufacturing. Farming consumes 1/2 of the food and 1/3 of the manufactured goods. Manufacturing consumes 1/2 of the food and 2/3 of the manufactured goods. Assuming the economy is closed and in equilibrium, find the relative outputs of the farming and manufacturing industries.arrow_forwardMaximize the function fx,y=7x+5y in the region determined by the constraints of Problem 34.arrow_forward
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