Lecture 6-3-Cost Benefit Trade Off-Exercise 1 Cost-benefit-trade-off problem Consider a cost-benefit-trade-off problem having the following data: Benefit Contribution per Unit of Each Activity Benefit 1 2 Minimum Acceptable Level 1 5 3 60 2 2 2 30 3 7 9 126 Unit cost $60 $50 a. Formulate a linear programming model for this problem on a spreadsheet. Use the Solver to find an optimal solution. b. Express the model in algebraic form. c. Use the spreadsheet to check the following solutions: (x1,x2)=(7,7),(7,8),(8,7),(8,8),(8,9),(9,8). Which of these solutions are feasible? Which of these feasible solutions has the best value of the objective function? Lecture 6-3-Cost Benefit Trade Off-Exercise 1-Contribution-Cost-benefit-trade-off problem-Question.doc