Mineral Mining Company sends one truckload of iron and copper ore daily from mine to processing plant. The truck has the weight capacity of 9 tons and volume capacity of 960 cubic feet. Each pound of iron ore takes up 0.04 cubic feet of the space and yields net profit of $0.30 when processed. Each pound of copper ore employs 0.08 cubic feet of space and provides $0.50 of net profit. The following LP model is invented, where I is the number of pounds of iron ore to load on the truck and C is number of pounds of copper ore to load on truck:
Maximize 0.3 I + 0.5 C
Subject to
I + C < 18000
0.04 I + 0.08 C < 960
I, C > 0
Solve problem graphically1. describe the optimal solution and objective function value in context of problem.