Question: Solve the following linear program graphically: Maximise: , x + 4 y ( Total Profit ) Subject t o : 5 x + 3 y
Solve the following linear program graphically:
Maximise:
Total Profit
Subject :
constraint
constraint
Nonnegativity constraint
This linear program has been solved numerically using Solver in Excel and an inexperienced person has looked at the solution and believes that the following four statements to be true:
opportunity cost associated with is to two decimal places
opportunity cost associated with is zero
shadow price associated with constraint is to two decimal places
shadow price associated with constraint is zero
Taking each of the four statements above in turn, explain whether it is true or not and why.
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