You Have Been Given the Following Linear Programming Model and Excel

question 68

Essay

You have been given the following linear programming model and Excel spreadsheet to solve this problem.What numbers should be entered into cells B5:C5 and B8:C10 to implement this model?
MAX: ^{4 X}₁ ^{+ 3 X}₂
Subject to: ^{6 X}₁ ^{+ 7 X}₂ ^{≤ 84}
X₁ ≤ 10
X₂ ≤ 8 X₁,X₂ ≥ 0
$\begin{array}{|l|l|c|c|c|c|} \hline& \mathrm{A} & \mathrm{B} & \mathrm{C} & \mathrm{D} & \mathrm{E} \\\hline 1 & & & & & \\\hline 2 & & & & & \\\hline 3 & & \mathrm{x}_{1} & \mathrm{x}_{2} & & \\\hline 4 & \text { Number to make: } & & & & \begin{array}{l}\text { OBJ. FN. } \\\text { VALUE }\end{array} \\\hline 5 & \text { Unit profit: } & & & & \\\hline 6 & & & & & \\\hline 7 & \text { Constraints: } & & & \text { Used } & \text { Available } \\\hline 8 & 1 & & & & \\\hline 9 & 2 & & & & 84 \\\hline 10 & 3 & & & & 10 \\\hline\end{array}$

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Definitions:

Perfectly Price Elastic

A situation in which the quantity demanded or supplied changes infinitely in response to any change in price.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded.

Unit Elastic

Describes a situation where a percentage change in the price of a good or service results in an equal percentage change in the quantity demanded or supplied.

Cheddar Cheese

A relatively hard, off-white or orange, natural cheese originating from the village of Cheddar in England.