The Graph of the Feasible Region for a Mixture Problem

question 43

Multiple Choice

The graph of the feasible region for a mixture problem is shown below. Find the point that maximizes the profit function P = x + 4y.

• A) (0, 9)
• B) (6, 7)
• C) (7, 3)
• D) (6, 0)

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Definitions:

Excess Goods

Products that exceed the demand in the market, often leading to surplus and potential waste.

Perfect Substitutes

Two goods that could be used in place of one another with no loss of utility to the consumer.

Utility Function

A mathematical representation of how different combinations of goods or services produce varying levels of satisfaction or utility to a consumer.

Commodities

Fundamental commodities traded in business that can be exchanged with others of alike kind.