For this you will need to submit 2 documents. A word document with your answers typed out and an excel file with your supporting work. Remember to always start with the original LP for each question #2) Solve the following LP Maximize $4x + $5y Subject to 2x + 3y s 20 (labor, in hours) 6x + 6y s 36 (materials, in pounds) 4x + 4y s 40 (storage, in square feet) x, y 20 a) Write the original optimal solution and objective function value. b) What happens to the optimal solution and objective function value if you acquire 2 additional pounds of material? c) What happens to the optimal solution and objective function value if you acquire 1.5 additional hours of labor? d) What happens to the optimal solution and objective function value if you give up 1 hour of labor and get 1.5 pounds of material?

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter11: Price And Output Determination: Monopoly And Dominant Firms
Section: Chapter Questions
Problem 1E
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plz solve the question's with explaination within 30-40 min. I will give you upvotes
For this you will need to submit 2 documents. A word document with your answers typed
out and an excel file with your supporting work. Remember to always start with the original
LP for each question
#2) Solve the following LP
Maximize $4x + $5y
Subject to
2x + 3y s 20 (labor, in hours)
6x + 6y < 36 (materials, in pounds)
4x + 4y s 40 (storage, in square feet)
х, у 20
a) Write the original optimal solution and objective function value.
b) What happens to the optimal solution and objective function value if you acquire 2
additional pounds of material?
c) What happens to the optimal solution and objective function value if you acquire 1.5
additional hours of labor?
d) What happens to the optimal solution and objective function value if you give up 1 hour of
labor and get 1.5 pounds of material?
Transcribed Image Text:For this you will need to submit 2 documents. A word document with your answers typed out and an excel file with your supporting work. Remember to always start with the original LP for each question #2) Solve the following LP Maximize $4x + $5y Subject to 2x + 3y s 20 (labor, in hours) 6x + 6y < 36 (materials, in pounds) 4x + 4y s 40 (storage, in square feet) х, у 20 a) Write the original optimal solution and objective function value. b) What happens to the optimal solution and objective function value if you acquire 2 additional pounds of material? c) What happens to the optimal solution and objective function value if you acquire 1.5 additional hours of labor? d) What happens to the optimal solution and objective function value if you give up 1 hour of labor and get 1.5 pounds of material?
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