Given the Following Linear Programming Problem

question 17

Essay

Given the following linear programming problem
Max
10x₁ + 12x₂
s.t.
1x₁ + 2x₂ ≥ 40
5x₁ + 8x₂ ≤ 160
1x₁ + 1x₂ ≤ 40
x₁, x₂ ≥ 0
​
the final tableau is ​
a.
Find the range of optimality for c₁ and c₂.
b.
Find the range of feasibility for b₁, b₂, and b₃.
c.
Find the dual prices.

---

Definitions:

Total Revenue

The aggregate income a company generates from its sales of products or delivery of services over a designated period.

Price Falls

A decrease in the market price of a good or service, which can affect consumer demand, producer supply, and overall market equilibrium.

Price Elasticity

A measure of how much the quantity demanded or supplied of a good changes in response to a change in its price.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a given time period.