Develop a simple application of two- variable linear programming problem to find an optimal product mix...

 

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Develop a simple application of two- variable linear programming problem to find an optimal product mix in a 'realistic' context. Specify the resources to be considered requirements, and the market resource demand considerations, technical considerations, managerial policies, and any other relevant factors, and formulate the linear programming problem using realistic assumptions or estimates of the same. Find the optimal solution of your linear programming problem and discuss its sensitivity analysis and managerial implications. Develop a simple application of two- variable linear programming problem to find an optimal product mix in a 'realistic' context. Specify the resources to be considered requirements, and the market resource demand considerations, technical considerations, managerial policies, and any other relevant factors, and formulate the linear programming problem using realistic assumptions or estimates of the same. Find the optimal solution of your linear programming problem and discuss its sensitivity analysis and managerial implications.