Optimizing Production with Linear Programming in Economics: A Math Question

  • Thread starter Thread starter Izekid
  • Start date Start date
  • Tags Tags
    Economics
AI Thread Summary
The discussion focuses on optimizing production using linear programming with three variables: A, B, and C. The objective function is Z = 800A + 550B + 400C, subject to specific constraints represented by inequalities. The user seeks assistance in converting these inequalities into equations to define the feasible region for the variables. The key steps involve solving for the vertices of this feasible area and evaluating Z at each vertex to find the optimal production values. The optimal solution will be located at one of these vertices, maximizing the objective function.
Izekid
Messages
40
Reaction score
0
This is a economic math question see if you can help me out here.

I've got 3 variables A,B and C and I shall get the production to be optimal I have there variables

This is the forumla = Z = 800A+ 550B +400C
Under these condition it shall work

14A+10B+8C=<4500
12A+7C=<1000
12A+18B+10C=<480
A,B,C>0

With these numbers I shall get a number for each variable that should be the best production way.
It's called in mathematics, Linear Programming

http://www-unix.mcs.anl.gov/otc/Guide/faq/linear-programming-faq.html

I have tested many thing please help me if you can
 
Last edited by a moderator:
Physics news on Phys.org
First convert the inequalities into equations:

14A+ 10B+ 8C= 4500
12A+ 7C = 1000
12A+ 18B+ 10C= 480

Those equations define planes that form the boundary of the "feasible area". Solve for values of A, B, C to get the vertices of that area.
The evaluate Z at each of those vertices. The optimal value will be at one of the vertices.
 
I picked up this problem from the Schaum's series book titled "College Mathematics" by Ayres/Schmidt. It is a solved problem in the book. But what surprised me was that the solution to this problem was given in one line without any explanation. I could, therefore, not understand how the given one-line solution was reached. The one-line solution in the book says: The equation is ##x \cos{\omega} +y \sin{\omega} - 5 = 0##, ##\omega## being the parameter. From my side, the only thing I could...

Similar threads

Replies
13
Views
3K
Replies
4
Views
3K
Back
Top