Consider the Following Constraints from a Two-Variable Linear Program

question 80

Short Answer

Consider the following constraints from a two-variable linear program.
1.X ≥ 0
2.Y ≥ 0
3.X + Y ≤ 50
If the optimal corner point lies at the intersection of constraints (2)and (3), what is the optimal solution (X, Y)?

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Definitions:

Unionized Plants

Factories or workplaces where the employees are represented by a union for collective bargaining with the management.

Labor Market

The supply of available workers in relation to available employment.

Product Market

The marketplace where final goods or services are traded between sellers and consumers.

Financialization

The process by which financial markets, financial institutions, and financial elites gain a greater influence over economic policy and economic outcomes.