When economists say that the Federal Reserve Banks are central banks, it means that multiple choice 1 the banks' policies are co
1 answer:
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Answer:
(a) Linear model
Subject to:
(b) Standard form:
Subject to:
Explanation:
Given
Solving (a): Formulate a linear programming model
From the question, we understand that:
A has a profit of $9 while B has $7
So, the linear model is:
Subject to:
Where:
Solving (b): The model in standard form:
To do this, we introduce surplus and slack variable "s"
For inequalities, we add surplus (add s)
Otherwise, we remove slack (minus s)
So, the standard form is:
So, the linear model is:
Subject to: