Graphically Solving and Maximizing Profit for Linear Programming
Not what you're looking for?
Graphically solve the following problems
Maximize Profit Z= $4X1+$6X2
Subject to
1X1+2X2 ≤ 8
6X1+4X2 ≤ 24
a). What is the optimal solution?
b) If the first constraint is altered to 1X1+3X2 ≤ 8, does the feasible region or the optimal solution change?
See attached file for full problem description.
Purchase this Solution
Solution Summary
This solution gives the step by step method for solving linear programing problem
Solution Preview
Please see the attached file.
B3
Graphically solve the following problems
Maximize Profit Z= $4X1+$6X2
Subject to
1X1+2X2 ≤ 8
6X1+4X2 ≤ 24
a). What is the optimal solution?
b) If the first constraint is altered to 1X1+3X2 ≤ 8, does the feasible region or the optimal solution change?
The first constraint 1X1+2X2 ≤ 8 is represented by the red line and second constraint 6X1+4X2 ≤ 24 is represented by the green line.
The optimum values of the objective function occurs at one of the extreme (corner) points of the feasible region. The coordinates of the extreme points are:
A = (0,4) B=(2,3) C=(4,0) . The Z values corresponding to the extreme points are
A = $4*0+$6*4 =$24
B = $4*2+$6*3=$26
C = $4*4+$6*0 =$16
Thus the optimal solution occur at the point B and the maximum profit =$ 26
b).
The first constraint 1X1+3X2 ≤ 8 is represented by the green line and second constraint 6X1+4X2 ≤ 24 is represented by the red line.
The feasible region change as shown in the graph.
The coordinates of the extreme points are (0,8/3) and (8,0)
The maximum profit Z= $4*8 +$6*0 =$32
B4. Consider the following linear programming problem
Maximize Z = ...
Purchase this Solution
Free BrainMass Quizzes
Basics of Economics
Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.
Elementary Microeconomics
This quiz reviews the basic concept of supply and demand analysis.
Economics, Basic Concepts, Demand-Supply-Equilibrium
The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.
Economic Issues and Concepts
This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.
Pricing Strategies
Discussion about various pricing techniques of profit-seeking firms.