Consider the linear program in Problem 1. The value of the optimal solution is 27. Suppose that
Question:
Consider the linear program in Problem 1. The value of the optimal solution is 27. Suppose that the right-hand side for constraint 1 is increased from 10 to 11.
a. Use the graphical solution procedure to find the new optimal solution.
b. Use the solution to part (a) to determine the dual price for constraint 1.
c. The Management Scientist computer solution for the linear program in Problem 1 provides the following right-hand-side range information:
What does the right-hand-side range information for constraint 1 tell you about the dual price for constraint 1?
d. The dual price for constraint 2 is 0.5. Using this dual price and the right-hand-side range information in part (c), what conclusion can be drawn about the effect of changes to the right-hand side of constraint2?
Step by Step Answer:
Quantitative Methods For Business
ISBN: 148
11th Edition
Authors: David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey Cam