Question: 2. (a) (45 marks) Solve the following model graphically, using an 8 by 8 grid. maximize 7x1 + 3x2 subject to (1) 8x1 + 2x2
2. (a) (45 marks) Solve the following model graphically, using an 8 by 8 grid. maximize 7x1 + 3x2 subject to (1) 8x1 + 2x2 <= 32 (2) x1 + 5x2 <= 25 (3) 10x1 + 2x2 <= 39 (4) 4x1 + 5x2 <= 30 x1 ; x2 >= 0 (b) Perform a sensitivity analysis for each of the objective function coefficients. (c) Perform a sensitivity analysis for the right-hand-side values for each of the nonbinding constraints. (d) Perform a sensitivity analysis for the right-hand-side values for each of the two binding constraints.
(e) For each of the two binding constraints, find the change to each variable as the function of the right-hand side value, and from these relationships calculate the two shadow prices.
Please answer B to D.
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