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The binding constraints for this problem are the first and second.
a.Keeping c2 fixed at 2,over what range can c1 vary before there is a change in the optimal solution point?
b.Keeping c1 fixed at 1,over what range can c2 vary before there is a change in the optimal solution point?
c.If the objective function becomes Min 1.5x1 + 2x2,what will be the optimal values of x1,x2,and the objective function?
d.If the objective function becomes Min 7x1 + 6x2,what constraints will be binding?
e.Find the dual price for each constraint in the original problem.
Economy Can Produce
The maximum quantity of goods and services an economy can generate when it utilizes all its resources efficiently.
Combinations Of Output
Various possible quantities of different goods that can be produced or provided given certain resources and technology.
Comparative Advantage
The ability of an entity to produce a good or service at a lower opportunity cost than another.
Opportunity Cost
The worth of the best alternative that is given up to make a decision.
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