5. Two products give the same revenue per unit produced but they use different quantities of...

 

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5. Two products give the same revenue per unit produced but they use different quantities of 2 resources. Per unit produced, product 1 uses 4 units of resource 1 and 2 units of resource 2, product 2 uses 1 and 4 units. Of resource 1 there are 12 units available, of resource 2 16. We want to maximise the revenue. a (0.5). Formulate the LP formulation of this problem. b (0.75). Make a graphical representation of the problem and determine algebraically the optimal solution. c (0.25). Now the quantities produced can only be integer. Which constraints do you have to add? d (0.5). What is the optimal solution in the integer case? e (0.25). In the integer case, suppose that we have 20 units of resource 2. What is the additional revenue? 5. Two products give the same revenue per unit produced but they use different quantities of 2 resources. Per unit produced, product 1 uses 4 units of resource 1 and 2 units of resource 2, product 2 uses 1 and 4 units. Of resource 1 there are 12 units available, of resource 2 16. We want to maximise the revenue. a (0.5). Formulate the LP formulation of this problem. b (0.75). Make a graphical representation of the problem and determine algebraically the optimal solution. c (0.25). Now the quantities produced can only be integer. Which constraints do you have to add? d (0.5). What is the optimal solution in the integer case? e (0.25). In the integer case, suppose that we have 20 units of resource 2. What is the additional revenue?

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a LP formulation is as follows Decision variables X1 X2 number of product 1 and 2 to produce ... View the full answer