7 E MARK HIRSCHEY FUNDAMENTALS OF MANAGERIAL ECONOMICS

7 E MARK HIRSCHEY FUNDAMENTALS OF MANAGERIAL ECONOMICS Chapter 9 Power. Point Presentation by Charlie Fundamentals of Managerial Economics 7 e Cook Linear Programming © 2003 South-Western/Thomson Learning

Production Process Rays in Linear Programming Figure 9. 1 Fundamentals of Managerial Economics 7 e 2

Production Isoquants in Linear Programming Figure 9. 2 Fundamentals of Managerial Economics 7 e 3

Determination of the Least-Cost Production Process Figure 9. 3 Fundamentals of Managerial Economics 7 e 4

Optimal Input Combination with Limited Resources Figure 9. 4 Fundamentals of Managerial Economics 7 e 5

Constraint Imposed by Limitations on Input A Figure 9. 5 Fundamentals of Managerial Economics 7 e 6

Feasible Space Figure 9. 6 Fundamentals of Managerial Economics 7 e 7

Graphic Solution of the Linear Programming Problem Figure 9. 7 Fundamentals of Managerial Economics 7 e 8

Graphic Solution of a Linear Programming Problem When the Objective Function Coincides with a Boundary of the Feasible Space Figure 9. 8 Fundamentals of Managerial Economics 7 e 9

Determination of Zero-Valued Variables at Corners of the Feasible Space Figure 9. 9 Fundamentals of Managerial Economics 7 e 10

Advertising Cost. Minimization Linear Programming Problem Figure 9. 10 Fundamentals of Managerial Economics 7 e 11

Cost Minimization Figure ST 9. 1 Fundamentals of Managerial Economics 7 e 12

Profit Maximization Figure ST 9. 2 Fundamentals of Managerial Economics 7 e 13