Question: It needs to be solved by hand, not with excel. Optimal solution is (2,4)=3400. Thanks in advance. Model: Maximize 300x+700y (profit) Subject to 3x+2y=0 a)

It needs to be solved by hand, not with excel.

It needs to be solved by hand, not with excel. Optimal solution is (2,4)=3400. Thanks in advance.

Model: Maximize 300x+700y (profit) Subject to 3x+2y=0 a) Determine the sensitivity ranges for objective function coefficients of x and y b) Using the sensitivity ranges you found in part (a), determine the new optimal solution and objective function value if the profit of y decreases from $700 to $600. c) Determine the sensitivity ranges for the RHS of constraints (except nonnegativity constraints) Answer the following parts considering the sensitivity ranges you found in part (c). Use the definition of shadow price. Don't solve the model again. d) What would be the effect of increasing the amount of available platinum to 22 on the optimal solution and objective function value? e) What would be the effect of increasing the amount of available gold to 23 on the optimal solution and objective function value? f) If the maximum demand for y increases to 6, what would be the new optimal solution and objective function value

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