Describing optimal solution and objective function

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Reference no: EM1316733

Q1) Mineral Mining Company sends one truckload of iron and copper ore daily from mine to processing plant. Truck has weight capacity of 9 tons and volume capacity of 960 cubic feet. Each pound of iron ore takes up 0.04 cubic feet of space and yields a net profit of $0.30 when processed. Each pound of copper ore uses 0.08 cubic feet of space and gives $0.50 of net profit. Following LP model is suggested, where I is number of pounds of iron ore to load on truck and C is number of pounds of copper ore to load on truck:

Maximize 0.3 I + 0.5 C

Subject to

I + C < 18000

0.04 I + 0.08 C < 960

I, C > 0

Solve problem graphically1. Describe optimal solution and objective function value in context of the problem.

Reference no: EM1316733

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