Use Graphical Methods to Solve the Linear Programming Problem

question 1

Multiple Choice

Use graphical methods to solve the linear programming problem.
-Maximize z = 6x + 7y subject to:
2x + 3y ≤ 12
2x + y ≤ 8
x ≥ 0
Y ≥ 0

• A)Maximum of 32 when x = 3 and y = 2
• B)Maximum of 24 when x = 4 and y = 0
• C)Maximum of 52 when x = 4 and y = 4
• D)Maximum of 32 when x = 2 and y = 3

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Definitions:

Total Revenues

The total amount of money generated by a business from the sale of goods and services before any costs or expenses are deducted.

Unit Elasticity

Unit elasticity refers to a situation where a change in the price of a good or service results in a proportionally equal change in the quantity demanded or supplied, indicating a unitary elasticity of demand or supply.

Maximum Total Revenue

The highest possible earnings that a firm can achieve from the sale of goods or services, typically found by optimizing price and quantity sold.

Price

The price necessary to acquire a good or service.