A computer manufacturing company wants to develop a monthly plan for shipping finished products from three of its manufacturing facilities to three regional warehouses.It is thinking about using a transportation LP formulation to exactly match capacities and requirements.Data on transportation costs (in dollars per unit), capacities, and requirements are given below:
a.How many variables are involved in the LP formulation?
b.How many constraints are there in this problem?
c.What is the constraint corresponding to plant 2?
Definitions:
Perfect Competitor
An idealized market structure characterized by a large number of small firms, each being a price taker, with no single firm able to influence the market price.
Long Run
A period in economics where all factors of production and costs are variable, allowing complete industry adjustment.
Marginal Revenue
The extra revenue generated from the sale of an additional unit of a product or service.
Marginal Cost
Marginal cost is the cost of producing one additional unit of a good or service, crucial for decision-making processes in economics and business.
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