Shadow price of a resource corresponding to a binding constraint in a problem with maximize profit as its objective function
A) is also known as double price
B) is the additional profit obtained by having 1 more unit of the resource
C)is the additional profit obtained by having one more unit of the resource, as long as the additional
D) quantity is within the range of feasibility for the constraint
Dis the additional profit obtained by having one more unit of the resource, as long as the additional
E) quantity is within the range of optimality for the constraint

Question

Quizplus · Accepted Answer

The Answer of Shadow price of a resource corresponding to a binding constraint in a problem with maximize profit as its objective function
A) is also known as double price
B) is the additional profit obtained by having 1 more unit of the resource
C)is the additional profit obtained by having one more unit of the resource, as long as the additional
D) quantity is within the range of feasibility for the constraint
Dis the additional profit obtained by having one more unit of the resource, as long as the additional
E) quantity is within the range of optimality for the constraint

Shadow Price of a Resource Corresponding to a Binding Constraint