Determine the Values of X and Y That Produce the Minimum

question 11

Multiple Choice

Determine the values of x and y that produce the minimum value of the objective function on the given
feasible region.
-Minimize $z = 7 x + 3 y$

• A) \(x = 0 , y = 0\)
• B) \(x = 25 , y = 0\)
• C) \(x = 15 , y = 20\)
• D) \(x = 0 , y = 65\)

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Definitions:

Demand Schedule

A table that lists the quantity of a good a person will buy at different prices.

Demand Schedule

A table or graph showing the quantity of a product that consumers are willing and able to purchase at various prices over a specified period of time.

Law Of Demand

The principle that, other things equal, an increase in a product’s price will reduce the quantity of it demanded, and conversely for a decrease in price.

Price-Elasticity Coefficient

A numerical measure of the responsiveness of the quantity demanded or supplied of a good to a change in its price.