An automobile parts manufacturer produces two types of automobile parts used for making four wheelers. Type 1 (X1) requires hour of labor and 1 hour of machine time. Type 2 (X2) requires 1 hour of labor time and 2 hours of machine time. There are 500 hours available per week of labor and 700 machine hours available. Type 1 has a profit margin of $ 40 a unit and Type 2 have a profit margin of $ 45 a unit. The automobile parts manufacturer must choose the quantity of Type 1 and Type 2 machinery parts, which maximizes profit (Z). Formulate this as linear programming problem by defining the objective function. O Maximize Z=40X1 +45 X2 O Minimize Z= 500X1 + 700 X2 Maximize Z=45X1 +40X2 Minimize Z=40X1 +45 X2