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Business, 23.03.2021 01:00 kmsg2000

g One company plans to promote their new product and there are three advertising alternatives including television, newspaper and radio. The cost for each medium with its audience coverage is given below. The local newspaper limits the number of advertisements from a single company to ten. Moreover, in order to balance the advertising among the three types of media, no more than half of the total number of advertisements should occur on the radio, and at least 10% should occur on television. The weekly advertising budget is $20000. Formulate the optimization problem (decision variables are x1, x2 and x3 for number of advertisements used on television, newspaper and radio, respectively).

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