Question: Consider the following linear programming problem: Minimize 4 A + 5 B Subject to 1 A + 4 B < = 2 1 2 A
Consider the following linear programming problem:
Minimize A B
Subject to
A B
A B
A B
A B
A B
a Show the feasible region using the graphical solution approach. What are the corner points?
b Based on your response in part a:
What is the corner point that minimizes the objective function?
What is the value of the objective function at this corner point?
c Which constraints are binding? Which constraints are nonbinding? Explain.
d Suppose the objective function is changed to Maximize A B while keeping everything else intact.
What is the corner point that maximizes the new objective function?
What is the value of the objective function at this corner point?
e Taking into consideration the new objective function introduced in part e which constraints are binding? Which constraints are nonbinding? Explain.
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