Solve the Following LP Problem Graphically Using Level Curves

question 54

Essay

Solve the following LP problem graphically using level curves.
MIN: ^{5 X}₁ ^{+ 7 X}₂
Subject to: ^{4 X}₁ ^{+ 1 X}₂ ^{≥ 16}
6 X₁ + 5 X₂ ≥ 60
5 X₁ + 8 X₂ ≥ 80 X₁,X₂ ≥ 0

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Risk Averse

A behavioral characteristic of individuals who prefer avoiding losses over acquiring equivalent gains; a preference for certainty over gamble.

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The process through which a private company goes public by offering its stocks to the public for the first time.