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## Economics

 Basic Economics Macroeconomics Microeconomics Business Economics Econometrics International Economics Managerial Economics Game Theory Public Economics

problem1)

Solve the following linear programming problem graphically:
maximize   2X1 + 3X2
subject to  X1 <= 8
X2 <= 6
X1+ 2X2 <= 16
X1, X2 >=0

problem2)

In problem 1, how would optimal solution change if restrictions imposed (i.e., the ri’s) were all cut in half?

problem3)

Solve following linear programming problem using general solution method:
minimize C = 3X1 + 4X2
subject to X1 + X2 >= 2
2X1 +4X2 >=5
X1, X2 >= 0

problem4)

Form dual to the linear programming problem presented in problem 3; then solve it to get optimal value of C° . Does minimum value of C° for the primal in Problem 3 equal the maximum value of C°  in dual for this problem?

problem5)

a) State linear programming problem facing this advertising manager. Be sure to formulate objective function and inequality constraints (including appropriate non-negativity constraints).
b) Solve linear programming problem. What is the optimal number of TV ads and magazine ads? What will be the minimum possible level of total expenditures on television and magazine ads necessary to successfully promote the GTS in Chicago?
c) Suppose the local television stations, in order to reduce set-up costs, require Cadillac to run its ad two or more times. How would this constraint alter the solution to this linear programming problem?

Managerial Economics, Economics

• Category:- Managerial Economics
• Reference No.:- M9494

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