Concept explainers
To solve: The following linear programming problem graphically.
Introduction:
Linear programming:
It is a linear optimization technique followed to develop the best outcome for the linear programming problem. The outcome might be to maximize profit, minimize cost, or to determine the optimal product mix. The outcome will take the constraints present in achieving the solution into consideration.
Iso-cost line method:
The iso-cost line method is a technique used to find the optimal solution of a linear programming problem. A parallel line is drawn and moved downward, towards the axis, until it touches the last corner point in the feasible region which has the lowest cost.
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