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3. Radioco manufactures 2 types of radios. The only scarce resource that is needed to produce radios is labor. At present the company has two
3. Radioco manufactures 2 types of radios. The only scarce resource that is needed to produce radios is labor. At present the company has two laborers. Laborer 1 is willing to work up to 40 hours per week and is paid 5$ per hour. Laborer 2 will work up to 50 hours per week for 6$ per hour. The price as well as the resources required to build each type of radio are given in the table. xi ; the number of type I radios produced each week: maxz=31+22 yle ki x1+2240 21+x250 x1,x20 With graphical sensitivity analysis, answer the following questions: a. For what values of the price of a type 1 radio would the current basis remain optimal? b. For what values of the price of a type 2 radio would the current basis remain optimal? c. If laborer 1 were willing to work up to 30 hours per week would the current basis remain optimal? Find the new optimal solution to the LP d. If laborer 2 were willing to work up to 60 hours per week would the current basis remain optimal? Find the new optimal solution to the LP e. Find the shadow price of each constraint
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