Given the Following Linear Programming Problem What Is the Optimal Value of This Objective Function

question 30

Short Answer

Given the following linear programming problem:
$\begin{array} { l l } \operatorname { maximize } & 4 x _ { 1 } + 3 x _ { 2 } \\\text { subject to } & 4 x _ { 1 } + 3 x _ { 2 } \leq 23 \\& 5 x _ { 1 } - x _ { 2 } \leq 5 \\& x _ { 1 } , x _ { 2 } \geq 0\end{array}$
What is the optimal value of this objective function?

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Definitions:

Price Elasticity

The degree to which demand for an item is affected by changes in its cost.

Quantity Demanded

The total amount of a product that consumers are willing and able to purchase at a given price.

Linear Demand Curve

A graphical representation showing a straight-line relationship between the price of a good and the quantity demanded, indicating a constant change in demand in response to price changes.

Elasticity

A gauge of the reaction in the amount of a product desired when its price varies.