Figure 1:

Figure 1 Demonstrates an Excel

question 3

Multiple Choice

Figure 1:

Figure 1 demonstrates an Excel spreadsheet that is used to model the following linear programming problem:
$$\begin{array} { l l } \operatorname { Max } : & 4 \mathrm { X } _ { 1 } + 3 \mathrm { X } _ { 2 } \\\text { Subject to: } & \\& 3 \mathrm { X } _ { 1 } + 5 \mathrm { X } _ { 2 } \leq 40 \\& 12 \mathrm { X } _ { 1 } + 10 \mathrm { X } _ { 2 } \leq 120 \\& \mathrm { X } _ { 1 } \geq 15 \\& \mathrm { X } _ { 1 } , \mathrm { X } _ { 2 } \geq 0\end{array}$$
Note: Cells B3 and C3 are the designated cells for the optimal values of X₁ and X₂,respectively,while cell E4 is the designated cell for the objective function value.Cells D8:D10 designate the left-hand side of the constraints.
-Refer to Figure 1.What cell reference designates the Target Cell in "Solver"?

• A)E4
• B)B3
• C)C3
• D)D8:D10
• E)E8:E10

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Definitions:

Fast-Food

Quick service restaurants serving food that is prepared and served rapidly.

Consumer Surplus

The benefit obtained by consumers because they are able to purchase a product for a price that is less than the highest price that they would be willing to pay.

Optimal Consumption

refers to the situation in which a consumer allocates their income in a way that maximizes their overall satisfaction or utility, given their preferences and the prices of goods and services.

Demand Schedule

A demand schedule is a table that shows the quantity of a good or service that consumers are willing and able to purchase at various prices.