ECON 352: Microeconomic Theory Fall 2022
Hello, dear friend, you can consult us at any time if you have any questions, add WeChat: daixieit
Linear Programming Assignment
ECON 352: Microeconomic Theory
Fall 2022
For this assignment, you need to come up with a constrained optimization problem with context (a word problem, giving some explanation for where the constraints are coming from intuitively). To avoid doing the same kind of problem twice, I will rule out utility maximization and maximizing bus passenger miles per hour since those were the examples we did in class.
You must have at least four constraints and 3 choice variables. If you use non-negativity constraints (e.g., x>=0), those should not count as part of your four constraints. You must write a short description of your problem. Then, formally write down the choice variables, the objective function, and the constraint equations.
Additionally, you must use Excel to solve your constrained optimization problem. Make sure to label your spreadsheet in an organized way. Also include an “Answer Report” created by Solver. You can feel free to use Excel on the computers in OEC 449 when it’s not being used for classes.
You cannot work in groups for this assignment. Please submit your description in a Microsoft Word Document or pdf along with an Excel spreadsheet that contains the linear programming solutions to your problem by 11:59pm on December 14, 2022 through Canvas. Please let me know if you have questions.
2022-12-13