Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Refer to Problem A in the packet for the following questions.Note that Problem A has two Solver printouts; both of which are calculated at the

Refer to "Problem A" in the packet for the following questions.Note that Problem A has two Solver printouts; both of which are calculated at the optimal solution.The top chart on the page is the output from a production problem with some of the answers omitted by design.The lower chart is the Sensitivity Report, again with some of the answers omitted by design.All boxes with "?" are potential answers for you to find.In all cases, the values of the boxes with "?" are either "0" or "greater than 0".

This firm is producing two outputs, x1 and x2, where the price of each good is P1 and P2, respectively.The firm faces four constraints.The firm's goal is to maximize total revenue.

(1) What is the Total Revenue when calculated at the optimal solution?

image text in transcribed
PROBLEM A: Production Activity x1 x2 TR ? Amount Produced ? ? Per Unit Cost 14 12 Constraints Resource Usage Total LHS RHS Slack Constraint 1 2 4 40 ? Constraint 2 10 5 140 Constraint 3 1 0 30 ? Constraint 4 0 1 ? 30 ? Variable Cells Final Reduced Objective Allowable Allowable Cell Name Value Cost Coefficient Increase Decrease $B$4 Amount Produced x1 ? $C$4 Amount Produced x2 ? 0 Constraints Final Shadow Constraint Allowable Allowable Cell Name Value Price R.H. Side Increase Decrease $D$8 Constraint 1 Total LHS ? 1.666666667 40 $D$9 Constraint 2 Total LHS ? 1.066666667 140 1? 1? $D$10 Constraint 3 Total LHS ? 30 1E+30 18 $D$11 Constraint 4 Total LHS ? 0 30 1E+30 26

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials Of Accounting

Authors: Robert N Anthony, Leslie K Breitner

10th Edition

136071821, 9780136071822

More Books

Students also viewed these Economics questions

Question

1. What will happen in the future

Answered: 1 week ago

Question

3. Avoid making mistakes when reaching our goals

Answered: 1 week ago