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Can you help me with these questions 7. Which of the following is a proper definition of the shadow price? A. none of the options

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Can you help me with these questions

7. Which of the following is a proper definition of the shadow price?

A. none of the options

B. The LHS of a constraint

C. The RHS limit of a constraint

D. The willingness to pay for an additional unit of a constraint

8. True, False, Cannot be determined. A binding constraint is a constraint where the RHS - LHS = 0.

image text in transcribed
Table 1. Sensitivity Report from maximizing profits via production of X1 and X2 subject to three constraints (C1, C2 & C3). 6 Variable Cells 7 Final Reduced Objective Allowable Allowable 8 Cell Name Value Cost Coefficient Increase Decrease 9 $B$2 Activity Levels X1 3 0 4 16 4 10 $C$2 Activity Levels X2 5 O 4 1E+30 3.2 11 12 Constraints 13 Final Shadow Constraint Allowable Allowable 14 Cell Name Value Price R.H. Side Increase Decrease 15 SD$6 C1 LHS 13 0 20 1E+30 7 16 $D$7 C2 LHS 20 0.8 20 35 15 17 SD$8 C3 LHS 5 3.2 5 3.888888889 5

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