Homework Answers
The correct answer should be A) Increase , Resource
In Maximization problems, the shadow price measures the increase in the value of the resource while in Minimization problem it measures decrease in the value of resource
Add Answer to:
For a maximization problem, the shadow price/dual price for dual value measures the increase, resource in...
If a resource constraint in a linear program has a shadow price of o, it means...
If a resource constraint in a linear program has a shadow price of o, it means that the resource has been completely used up at the optimal solution. Select one: o True False
3. (6) If 161.2 kilos of carrots were available instead of 160, what is the shadow...
3. (6) If 161.2 kilos of carrots were available instead of 160, what is the shadow price of this resource? By how much the maximal profit will change in this case? Variable Cells Final Reduced Objective Allowable Allowable Coefficient Cell Name Value $C$12 brand A531.88 $D$12 brand B 64.36 Cost 0 0 Increase Decrease 3.21 5.4 1.33 Constraints Constraint Allowable Allowable Final Shadow Value 119.25 Price R.H. Side Increase Decrease Cell Name SFS5 beans $F$6 carrots 0.75 21.67 99.01 127.90...
5 pts Question 19 Hock Use the Excel Solver output for a Maximization LP problem to...
5 pts Question 19 Hock Use the Excel Solver output for a Maximization LP problem to determine by how much the objective function value will increase by if the RHS of the Space Constraint increases by 5 units. Objective Function Value = 26.40 Variable Cells Final Reduced Objective Allowable Allowable Name ValueCost CoefficientIncrease Decrease Variable 1 2.4 0 Variable2 24 0 6 1.5 2.67 Constraints Name Constraint Allowable Allowable R.H. Side Increase Decrease Final Shadow ValuePrice 12 0.6 6.4 0...
Variable cells Cell Name Final Value Reduced Cost Objective Coefficient Allowable Increase Allowable Decrease $B$6 Activity...
Variable cells Cell Name Final Value Reduced Cost Objective Coefficient Allowable Increase Allowable Decrease $B$6 Activity 1 3 0 30 23 17 $C$6 Activity 2 6 0 40 50 10 $D$6 Activity 3 0 –7 20 7 1E+30 Constraints Cell Name Final Value Shadow Price Constraint R.H. Side Allowable Increase Allowable Decrease $E$2 Resource A 20 7.78 20 10 12.5 $E$3 Resource B 30 6 30 50 10 $E$4 Resource C 18 0 40 1E+30 22 What is the allowable...
Question 14 5 pts The change in the objective function value for every 1 unit increase...
Question 14 5 pts The change in the objective function value for every 1 unit increase or decrease in the RHS of a constraint is called the Shadow Price O True O False
QUESTION 25 A price elasticity of 3 indicates that a: a. 3% increase in price will...
QUESTION 25 A price elasticity of 3 indicates that a: a. 3% increase in price will increase Qd(sales) 1% Ob.3% increase in price will decrease Qd(sales) 1% Oc 1% Increase in price will decrease Qd(sales) 3% 1% decrease in price will decrease Qd(sales) 3% Od. QUESTION 26 Based upon the determinants of demand elasticity, the price elasticity for toothpaste would be: O a. perfectly inelastic Ob.elastic O c. inelastic unitary elastic Od.
Question 4 (3.33 points) An increase in the price level that reduces the real value of...
Question 4 (3.33 points) An increase in the price level that reduces the real value of wealth is likely to consumption and saving. decrease, decrease decrease, increase increase, increase increase, decrease
2. Consider the utility maximization problem with n goods (a finite) (a) If the utility function...
2. Consider the utility maximization problem with n goods (a finite) (a) If the utility function u(c) is strictly concave, increasing, C1, and as- suming interiority of the optimal solution, what is the problem the consumer is solving? What are the FOCs for this problem using an "unconstrained" ap- proach (i.e., variable substitution in "primal" problem)? (b) Do optimal solutions for all goods satisfy "MRS" "price ratio" condition (i.e., MRSy(c) for all (V) i j)? If so, explain why. If...
Suppose that the bakers of bread face an increase in the price of flour (an input). In the market for bread, this will...
Suppose that the bakers of bread face an increase in the price of flour (an input). In the market for bread, this will cause the __ and the equilibrium price to_ O A. demand for bread to decrease; increase OB. demand for bread to increase; increase O C. supply of bread to decrease; increase OD. supply of bread to decrease; decrease
hapter 5 Quiz (pp. 150-162) Saved Help In linear programming, what-if analysis is associated with determining the effect of changing I. objective function coefficients Il. right-hand side value...
hapter 5 Quiz (pp. 150-162) Saved Help In linear programming, what-if analysis is associated with determining the effect of changing I. objective function coefficients Il. right-hand side values of constraints. IlI. decision variable values. 0150-13) Multiple Choice eBook objective function coefficients and right-hand side values of constraints References right-hand side values of constraints and decision variable values objective function coefficients, right-hand side values of constraints, and decision variable values objective function coefficients and decision veriable values None of the choices...
If a resource constraint in a linear program has a shadow price of o, it means that the resource has been completely used up at the optimal solution. Select one: o True False
3. (6) If 161.2 kilos of carrots were available instead of 160, what is the shadow price of this resource? By how much the maximal profit will change in this case? Variable Cells Final Reduced Objective Allowable Allowable Coefficient Cell Name Value $C$12 brand A531.88 $D$12 brand B 64.36 Cost 0 0 Increase Decrease 3.21 5.4 1.33 Constraints Constraint Allowable Allowable Final Shadow Value 119.25 Price R.H. Side Increase Decrease Cell Name SFS5 beans $F$6 carrots 0.75 21.67 99.01 127.90...
5 pts Question 19 Hock Use the Excel Solver output for a Maximization LP problem to determine by how much the objective function value will increase by if the RHS of the Space Constraint increases by 5 units. Objective Function Value = 26.40 Variable Cells Final Reduced Objective Allowable Allowable Name ValueCost CoefficientIncrease Decrease Variable 1 2.4 0 Variable2 24 0 6 1.5 2.67 Constraints Name Constraint Allowable Allowable R.H. Side Increase Decrease Final Shadow ValuePrice 12 0.6 6.4 0...
Question 14 5 pts The change in the objective function value for every 1 unit increase or decrease in the RHS of a constraint is called the Shadow Price O True O False
QUESTION 25 A price elasticity of 3 indicates that a: a. 3% increase in price will increase Qd(sales) 1% Ob.3% increase in price will decrease Qd(sales) 1% Oc 1% Increase in price will decrease Qd(sales) 3% 1% decrease in price will decrease Qd(sales) 3% Od. QUESTION 26 Based upon the determinants of demand elasticity, the price elasticity for toothpaste would be: O a. perfectly inelastic Ob.elastic O c. inelastic unitary elastic Od.
Question 4 (3.33 points) An increase in the price level that reduces the real value of wealth is likely to consumption and saving. decrease, decrease decrease, increase increase, increase increase, decrease
2. Consider the utility maximization problem with n goods (a finite) (a) If the utility function u(c) is strictly concave, increasing, C1, and as- suming interiority of the optimal solution, what is the problem the consumer is solving? What are the FOCs for this problem using an "unconstrained" ap- proach (i.e., variable substitution in "primal" problem)? (b) Do optimal solutions for all goods satisfy "MRS" "price ratio" condition (i.e., MRSy(c) for all (V) i j)? If so, explain why. If...
Suppose that the bakers of bread face an increase in the price of flour (an input). In the market for bread, this will cause the __ and the equilibrium price to_ O A. demand for bread to decrease; increase OB. demand for bread to increase; increase O C. supply of bread to decrease; increase OD. supply of bread to decrease; decrease
hapter 5 Quiz (pp. 150-162) Saved Help In linear programming, what-if analysis is associated with determining the effect of changing I. objective function coefficients Il. right-hand side values of constraints. IlI. decision variable values. 0150-13) Multiple Choice eBook objective function coefficients and right-hand side values of constraints References right-hand side values of constraints and decision variable values objective function coefficients, right-hand side values of constraints, and decision variable values objective function coefficients and decision veriable values None of the choices...
Most questions answered within 3 hours.
-
The blues made its way into many kinds of music. Eric Clapton,
The Beatles, and Elvis...
asked 1 hour ago -
8. A wave in a string has a wave function given by: y (x, t) =...
asked 22 minutes ago -
If you’re standing at the bottom of a hill and asked to evaluate
it while being...
asked 2 hours ago -
1. Which region has taken the lead in the world of
e-waste handling?
a) European Union...
asked 2 hours ago -
A 8.15- g bullet from a 9-mm pistol has a velocity of 366.0 m/s.
It strikes...
asked 3 hours ago -
The outstanding bonds of Alpha Extracts have a yield to maturity
of 7.4 percent and a...
asked 3 hours ago -
The Problem: The Case of the Harmonizing Vacations
Your CEO is exploring partnering with a European...
asked 5 hours ago -
A chemical equation is balanced by adding coefficients in front
of some formulas so that the...
asked 4 hours ago -
From the literature (reference your sources): What are the
lattice parameters of calcite and aragonite? Why...
asked 5 hours ago -
Your system is rejecting the question am asking which is
preceded by a case study. It...
asked 5 hours ago -
3. On January 2, 2000, Larry creates a trust with himself as
trustee. Larry as trustee...
asked 5 hours ago -
A member of the volleyball team spikes the ball. During this
process, she changes the velocity...
asked 5 hours ago