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(a) Find the shadow price for Resource 2. (Round your answer to the nearest cent.) $ (b) Identify the binding and nopbinding constraints. constraint 1 constraint 2 constraint 3

(a) Find the shadow price for Resource 2. (Round your answer to the nearest cent.) $ (b) Identify the binding and nopbinding constraints. constraint 1 constraint 2 constraint 3

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter4: Linear Programming Models
Section4.5: Blending Models
Problem 21P
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Kane Manufacturing has a division that produces two models of grates, model A and model B. To produce each model A grate requires 3 pounds of cast iron and 6 minutes of labor. To produce each model B grate requires 4 pounds of cast iron and 3 minutes of labor. The profit for each model A grate is $1.50, and the profit for each model B grate is $1.00. Available for grate production each day are 1000 pounds of cast iron and 20 labor-hours. Because of an excess inventory of model A grates, management has decided to limit the production of model A grates to no more than 180 grates per day. Maximize subject to P= 1.5x + ly 3x + 4y <1000 6x + 3y 1200 x ≤ 180 yz 0 x 2 0 Resource 1 Resource 2 Resource 3 (a) Find the shadow price for Resource 2. (Round your answer to the nearest cent.) $ (b) Identify the binding.and.nopbinding constraints. constraint 1 constraint 2 constraint 31 --Select Select Select
Transcribed Image Text:Kane Manufacturing has a division that produces two models of grates, model A and model B. To produce each model A grate requires 3 pounds of cast iron and 6 minutes of labor. To produce each model B grate requires 4 pounds of cast iron and 3 minutes of labor. The profit for each model A grate is $1.50, and the profit for each model B grate is $1.00. Available for grate production each day are 1000 pounds of cast iron and 20 labor-hours. Because of an excess inventory of model A grates, management has decided to limit the production of model A grates to no more than 180 grates per day. Maximize subject to P= 1.5x + ly 3x + 4y <1000 6x + 3y 1200 x ≤ 180 yz 0 x 2 0 Resource 1 Resource 2 Resource 3 (a) Find the shadow price for Resource 2. (Round your answer to the nearest cent.) $ (b) Identify the binding.and.nopbinding constraints. constraint 1 constraint 2 constraint 31 --Select Select Select
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