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S = 2 0 L 0 . 3 0 C 0 . 7 0 In this formula L represents the units of labor input and
In this formula represents the units of labor input and the units of capital input. Each unit of labor costs $ and each unit of capital costs $
a Formulate an optimization problem that will determine how much labor and capital are needed in order to produce tons of steel at minimum cost.
min
st
and upper bound constraints of and for both and before solving. Round your answers to three decimal places.
$
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