Resources in excess supply

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Reference no: EM132216560

1. Resources in excess supply

a. Should be replenished.

b. Have a shadow price of zero.

c. Should be thrown away.

d. Should be managed with great care.

2. The reduced cost for a variable is

a. Equivalent to the shadow price.

b. Synonymous with the marginal cost.

c. Always equal to 0.

d. Equal to the per unit amount the product contributes to profits minus the per unit value of the resources it consumes.

3. A solution to an LP problem is degenerate when

a. There are no lower bounds on the decision variables.

b. The RHS values of any of the constraints have an allowable increase or allowable decrease of zero.

c. At least one shadow price is equal to 0.

d. There are no upper bounds on the decision variables.

4. Spider plots and solver tables are

a. Generated by a spreadsheet.

b. Of limited use in examining model parameter changes.

c. Graphical decision support tools.

d. Examples of ad-hoc sensitivity analysis approaches.

5. The "robust solution" to an LP problem is

a. On the boundary of the feasible region.

b. Found when all shadow price is nonnegative.

c. In the interior of the feasible region.

d. Associated with tight constraints.

6. Analytic Solver Platform (ASP) in robust optimization problems

a. Too complex to be useful.

b. Is of limited use when uncertainty has to be addressed in the model.

c. Has a few simple tools for solving infeasible problems.

d. Can accommodate uncertainties in constraint coefficients.

Reference no: EM132216560

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