Find the Minimum Value of the Objective Function and Where $$\left( \frac { 21 } { 2 } , 0 \right)$$

question 43

Multiple Choice

Find the minimum value of the objective function and where it occurs,subject to the constraints: ?
Objective function:
?
Z = 8x + y
?
Constraints:
?
X ? 0
Y ? 0
X + 4y ? 20
X + y ? 18
?2x + 2y ? 21
?

• A)Minimum at (0,0): 0
• B)Minimum at (5,0): 40
• C)Minimum at \[\left( \frac { 21 } { 2 } , 0 \right)\] : 84
• D)Minimum at (18,0): 144
• E)No minimum

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Definitions:

Scarce Resources

Resources that are limited in supply and are not available in sufficient quantities to satisfy all the various ways a society wants to use them.

Society

A group of individuals living together in a more or less ordered community with shared laws, traditions, and values.

Economic Profit

The disparity between a company's complete earnings and all its expenses, encompassing both direct and potential costs.

Resource Value

The worth of a resource, based on its utility in producing goods and services or its trade value in the market.