Find the Minimum Value of the Objective Function and Where

question 257

Multiple Choice

Find the minimum value of the objective function and where it occurs, subject to the indicated constraints. ​
Objective function:
​
Z = 5x + 4y
​
Constraints:
​
X ≥ 0
Y ≥ 0
X + y ≤ 5​
​​ ​

• A)Minimum at (5, 0): 26
• B)Minimum at (0, 5): 21
• C)Minimum at (0, 0): 0
• D)Minimum at (0, 5): 25
• E)Minimum at (5, 0): 20

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Definitions:

Aggregate Demand

The total demand for all goods and services within an economy at a given overall price level and in a given time period.

Aggregate Supply

The total supply of goods and services produced within an economy at a given overall price level in a given time period.

Central Bank

An institution designed to oversee the banking system and regulate the quantity of money in the economy

Economic Fluctuations

Variations in the level of economic activity, characterized by periods of economic growth and contraction.