Consider the following problem: Maximize Z = 2x₁ + 4x₂

Question

Consider the following problem: Maximize Z = 2x₁ + 4x₂ - x₃,subject to 3x₂ - x₃ ≤ 30 (resource 1)2x₁ - x₂ + x₃ ≤ 10 (resource 2)4x₁ +2x₂ - 2x₃ ≤ 40 (resource 3)and x₁ ≥ 0,x₂ ≥ 0,x₃ ≥ 0.(a)Work through the simplex method step by step to solve the problem.(b)Identify the shadow prices for the three resources and describe their significance.

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The Answer of Consider the following problem: Maximize Z = 2x₁ + 4x₂ - x₃,subject to 3x₂ - x₃ ≤ 30 (resource 1)2x₁ - x₂ + x₃ ≤ 10 (resource 2)4x₁ +2x₂ - 2x₃ ≤ 40 (resource 3)and x₁ ≥ 0,x₂ ≥ 0,x₃ ≥ 0.(a)Work through the simplex method step by step to solve the problem.(b)Identify the shadow prices for the three resources and describe their significance.

Consider the Following Problem: Maximize Z = 2x1 + 4x2