Find the optimal (maximum and minimum) values of the objective function on the feasible set S. If no maximum or minimum value exists, enter no.
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Definitions:
Trade
The exchange of goods, services, or both between two or more parties, either within a country or internationally.
Resource Scarcity
A situation where resources are limited in availability and cannot satisfy all uses and desires.
Opportunity Costs
The potential benefits an individual, investor, or business misses out on when choosing one alternative over another.
Equilibrium
A state in a market where supply equals demand, meaning that there is no tendency for the market price to change unless external factors alter supply or demand.
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