Chapter 5 -Question 1, all parts. Provide a textbox with the NLP formulation.

Create a separate textbox and indicate what the optimal solution and optimal value are.

I want to know the process step by step and the answer

EXERCISES 1. Terri's Town Pump Restaurant would like to run a Tuesday night steak special. Tern' has been able to work out a deal with his suppliers so he can serve a New York strip steak, potato, salad, and dessert for a total cost of $3.65. In a recent restaurant journal she read that the demand for restaurant meals is elastic and can be dened by the equation: Q = 23,652P'2'5. Surveying her kitchen capacity, she estimates that they can prepare a maximum of 100 steak meals on a Tuesday night. What price should Terri charge for a New York strip steak dinner in order to maximize her prot? a. Formulate an NLP to determine the optimal price for a steak dinner. b. Create a spreadsheet model to nd the optimal price. Turn in your spreadsheet model with your homework Optimal Price: Optimal Prot