Use the Graphical Method for Linear Programming to Find the Optimal

question 11

Multiple Choice

Use the graphical method for linear programming to find the optimal solution for the following problem.
Minimize C = 3x + 15y
subject to $2 x + 4 y \geq 12$
$~~~~~~~~~~~~~~5 x + 2 y \geq 10$
And x ? 0, y ? 0.

• A) (x, y) = (0, 0).
• B) (x, y) = (0, 3).
• C) (x, y) = (0, 5).
• D) (x, y) = (1, 2.5).
• E) (x, y) = (6, 0).

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Definitions:

Vertical Demand Curve

A demand curve that is vertical reflects an instance where the quantity demanded does not change in response to changes in price, indicating perfectly inelastic demand.

MR = MC

The optimal point in economic theory where marginal revenue equals marginal cost, leading to the most efficient level of production.

D = ATC

The condition where a firm's demand curve (D) equals its average total cost (ATC), often used in economic models to analyze firm behavior.

Selling Price

The actual price at which a product or service is sold to the customer.