Question

In: Economics

Distinguish between basic feasible solution, feasible solution and optimal solution of a linear programming problem. Solve...

Distinguish between basic feasible solution, feasible solution and optimal solution of a linear programming problem. Solve the following LPP graphically:

Y=q1+4q2

Subject to 2q1+6q2<=36

2q1+2q2<=16

4q1+2q2<=28

q1,q2>=0

Solutions

Expert Solution

A feasible solution is a solution which satisfies the non-negative restrictions (>=0), all the variables must be either 0 or greater than 0.

A basic feasible solution is a solution which satisfies all the constraints and also the non-negativity restrictions.

An optimal solution is a feasible solution where the objective function reaches its maximum (or minimum) value – for example, the most profit or the least cost.

The above equations were solved to find the point where they would meet.

Only those points lying on the shaded area are feasible according to the constraints given above. Any other point will not be feasible.

Since nothing was given I assumed this is a maximisation problem.


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