Question: a) Find the solution set for the following systems graphically and graph the iso profit line on the same diagram. (8 marks) b) Using the
a) Find the solution set for the following systems graphically and graph the iso profit line on the same diagram. (8 marks)
b) Using the iso-profit line, determine the optimal solution to each system. (2 marks)
c) Which constraints are binding, and which ones are non-binding? (5 marks)
i)C = 2x + 3y s.t.
4x+2y>=12
3x + 5y >= 25
x >= 0
y >= 0
ii)P = 3x + y s.t.
x+3y<=9
5x + 2y <= 15
2x + 3y <= 10
x >= 0 and y >= 0
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