ECO 550 FINAL EXAM Essay

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ECO 550 FINAL EXAM
1. Which of the following could be a linear programming objective function?
2. Which of the following could not be a linear programming problem constraint?
3. Types of integer programming models are _____________.
4. The production manager for Beer etc. produces 2 kinds of beer: light (L) and dark (D). Two resources used to produce beer are malt and wheat. He can obtain at most 4800 oz of malt per week and at most 3200 oz of wheat per week respectively. Each bottle of light beer requires 12 oz of malt and 4 oz of wheat, while a bottle of dark beer uses 8 oz of malt and 8 oz of wheat. Profits for light beer are $2 per bottle, and profits for dark beer are $1 per bottle. If the production
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Constraints representing fractional relationships such as the production quantity of product 1 must be at least twice as much as the production quantity of products 2, 3 and 4 combined cannot be input into computer software packages because the left side of the inequality does not consist of consists of pure numbers.
16. In a balanced transportation model where supply equals demand,
17. The objective function is a linear relationship reflecting the objective of an operation.
18. The owner of Chips etc. produces 2 kinds of chips: Lime (L) and Vinegar (V). He has a limited amount of the 3 ingredients used to produce these chips available for his next production run: 4800 ounces of salt, 9600 ounces of flour, and 2000 ounces of herbs. A bag of Lime chips requires 2 ounces of salt, 6 ounces of flour, and 1 ounce of herbs to produce; while a bag of Vinegar chips requires 3 ounces of salt, 8 ounces of flour, and 2 ounces of herbs. Profits for a bag of Lime chips are $0.40, and for a bag of Vinegar chips $0.50. Which of the following is not a feasible production combination?
19. The linear programming model for a transportation problem has constraints for supply at each source and demand at each destination.
20. For a maximization problem, assume that a constraint is binding. If the original amount of a

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