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5. Waner p 302 #1) Given the LP problem: Maximize p = 2x + y subject to: Constraint 1: x + 2y <= 6 Constraint 2: -x + y<=4 Co

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Answer #1

f)

Refer value in the last row and s3 column, the value is 2, it is the shadow price of third constraint

Feasibility range of third constraint is: 4-4/1=0 and 4+2/1=6

Given change from 4 to 6 is within the feasibility range

Therefore, shadow price is applicable

Change in objective function value = Shadow price * change in value of b3

= 2*(6-4) = 4

New Objective value = old objective value + change

= 8 +4

= 12

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g)

The range of values of 4(b3) such that the values of x,y remain optimal is:   0    <= b3 <=   6   

as determine in part f

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h)

The current slope of iso-profit line is = -c1/c2

= -2/1

= 2

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i)

Optimal range of 2(c1) is: 2-1/1=1 and 2+1/0=infinity

The range of values of 2(c1) such that the values of x,y remain optimal is:   1    <= c1 <=   infinity   

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