Question: Solve the following model graphically, using an 8 by 8 grid. maximize 7 x 1 + 3 x 2 subject to (1) 8 x 1

Solve the following model graphically, using an 8 by 8 grid.

maximize 7x1 + 3x2

subject to

(1) 8x1 + 2x2 32

(2) x1 + 5x2 25

(3) 10x1 + 2x2 39

(4) 4x1 + 5x2 30

x1 , x2 0

(b) Perform a sensitivity analysis for each of the objective function coeffificients.

(c) Perform a sensitivity analysis for the right-hand-side values for each of the non

binding constraints.

(d) Perform a sensitivity analysis for the right-hand-side values for each of the two

binding constraints.

(e) For each of the two binding constraints, find the change to each variable as

function of the right-hand side value, and from these relationships calculate the

two shadow prices.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!