Question: QUESTION 3: Binary Integer Programming Problem Formulation (15 points): R.J. Publishing needs to decide what textbooks to publish and how many of each. The objective

QUESTION 3: Binary Integer Programming Problem

QUESTION 3: Binary Integer Programming Problem Formulation (15 points): R.J. Publishing needs to decide what textbooks to publish and how many of each. The objective is to maximize net profit. For each book, the maximum demand, fixed cost of publishing, variable cost, and selling price are provided in the table below. Maximum Fixed Cost Variable Cost Selling Price Demand Book 1 500 $8,000 $30 $52 Book 2 700 $6,000 $20 $45 Book 3 900 $9,000 $19 $40 Book 4 No maximum $10,000 $20 $34 + R.J. Publishing has the capacity to publish a total of 2000 books. Also, if R.J. publishes book 2 AND book 3, then it can NOT publish book 1. Formulate the above problem as a binary integer programming problem. Define the decision variables, objective function, and constraints. DO NOT SOLVE

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