Problem: Consider a cost-benefit-trade-off problem having the following data:
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Benefit Contribution
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Per Unit of
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Each Activity
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Minimum
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Acceptable
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Benefit
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1
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2
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Level
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1
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5
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3
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60
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2
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2
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2
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30
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3
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7
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9
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126
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Unit Cost
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$60
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$50
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a. Formulate a linear programming model for this problem on a spreadsheet.
b. Use Solver to find the optimal solution.
c. Express the model in algebraic form.
d. Use the graphical method to solve the problem.