15 Dec The linear programming formulation of this problem
The linear programming formulation of this problem is as follows:Maximise Z = 30X1 + 40X2 + 35X33X1 + 4X2 + 2X32X1 + 1X2 + 2X3X1 + 3X2 + 2X3With X1, X2, X3 >= 0To answer this question:Answer each question and explain your reasoning or show your calculations.1. What is the optimal production schedule for this firm? What is the profit contribution of each of these products?2. What is the marginal value of an additional hour of time on machine 1? Over what range of time is this marginal value valid?3. What is the opportunity cost associated with product 1? What interpretation should be given to this opportunity cost?4. How many hours are used for machine 3 with the optimal solution?
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