Question: Consider the following LP problem. Maximize z = 3 x 1 + 2 x 2 , subject to Constraint 1 : 2 x 1 +
Consider the following LP problem.
Maximize
subject to
Constraint :
Constraint :
Constraint :
where and represent the decision variables. Solve the LP problem to answer the following questions.
a What are the values of and at the optimal solution? What is the maximum value of
b Identify the binding and nonbinding constraints and report the slack value, as applicable.
c Report the shadow price and range of feasibility of each binding constraint.
d What is the range of optimality for the two objective function coefficients?
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