Statements about dual price of constraint

Assignment Help Operation Management
Reference no: EM131372055

Given the optimal solution: X* = 3 and Y* = 7 for the following Linear Programming problem with 4 constraints:  

      MAX 2X + 3Y

        s.t. 2X +   Y ≥   4 .......... (1)

                X +   Y ≤ 10 .......... (2)

                X + 3Y ≤ 24 .......... (3)             

              2X +   Y ≤ 16 .......... (4)              X, Y ≥ 0

Which one of the following statements about dual price of constraint 3 is correct?

Select one:

a. dual price of constraint 3 must be zero.

b. due price of constraint 3 must be not equal to zero.

Reference no: EM131372055

Questions Cloud

Four elements of the service-opportunity matrix : List and describe the four elements of the Service-Opportunity Matrix. Describe your own specific example (that has not already been discussed) of each. Discuss the three categories of risks that marketers should be aware of and manage.
Assume you are opening new business : Assume you are opening a new business. Explain the factors you would take into account in deciding the type of compensation system you would use to pay employees (i.e. salary, commission, piece rates).
National labor relations act : The Landrum-Griffin Act of 1959 amended the National Labor Relations Act of 1935 to allow state to pass “right-to-work” laws which ban unions in their state. Is this statement true, false, of uncertain? Give a careful and complete explanation of your..
Explain the use of a letter of credit : Explain the use of a Letter of Credit. Why do firms use counter trade? How does capital budgeting for international projects differ from that of domestic projects?
Statements about dual price of constraint : Given the optimal solution: X* = 3 and Y* = 7 for the following Linear Programming problem with 4 constraints: Which one of the following statements about dual price of constraint 3 is correct?
Central to the basic strategy paradigm : Central to the basic strategy paradigm is that, a firm must pick a viable position on the efficiency frontier; configure its internal operations to support that position; and _________________________.
Manufacturing process-assembly-finishing and inspection : A small furniture manufacturer produces tables and chairs. Each product must go through three stages of the manufacturing process: assembly, finishing, and inspection. Each table requires 3 hours of assembly, 2 hours of finishing, and 1 hour of inspe..
Increase revenue or increase market share : There are two general strategies that emerging businesses can take: (1) increase revenue, or (2) increase market share. With the revenue approach, the business is focused on making as much money as possible; this is how they define success. How is ob..
Authority and leadership-rising from the ranks : After working eight years as a staff nurse on a general medical/surgical unit, Julie Davis was appointed nurse manager of that unit. Identify the potential advantages Julie might enjoy in becoming manager of a group of which she has long been a membe..

Reviews

Write a Review

Operation Management Questions & Answers

  Calculate the profit each year using variable costing

Sterling Corporation reports the following information: 2009 2010 2011 Units sold 20,000 20,000 20,000 Units produced 20,000 24,000 16,000 Fixed production costs $1,200,000 $1,200,000 $1,200,000 Variable production costs per unit $200 $200 $200 Selli..

  Why marketing managers need research

Your best friend owns a small children's clothing store located in the downtown area of a community of 50,000 citizens. Business has been slow the past year due the construction of several new strip malls and a new Wal-Mart store.

  What is meant by capital budget and present an argument

What is a capital asset? Explain what is meant by a capital budget and present an argument to justify the development of capital budgets by governmental units, giving at least two reasons to support that view. Explain the major differences between an..

  Experiencing some of the same issues

Using the Internet and the library, select a country of your choice that is unfortunately experiencing some of the same issues cited in the description of the assignment. Document your findings and how they could relate to your current business si..

  What is post traumatic stress disorder

What is post traumatic stress disorder (PTSD)? How does this affect individuals and families? What kinds of treatments and services are available to help war veterans suffering from PTSD? Are these treatments helpful?

  What is the minimum annual inventory cost

A manufacturer is sourcing a component for a new product. Expected monthly demand is 705 units. The component can be purchased from either supplier A or supplier B, with the following price breaks: What order quantity is optimal if the intent is to m..

  Linear programming model to determine these amounts

The New England Cheese Company produces two cheese spreads by blending mild cheddar cheese with extra sharp cheddar cheese. The cheese spreads are packaged in 2 pound containers, which are then sold to distributors throughout the Northeast. Formulate..

  Strategies avoiding generic terms such forward integration

Develop a SWOT matrix for PepsiCo, Follow all the SWOT guidelines provided in this chapter including notation at the end of each strategy. Include 3 strategies in each of the four (SO,ST,WT,WO) quadrants. Be specific regarding your strategies avoidin..

  Business may be exposed to tort liability in many ways

A business may be exposed to tort liability in many ways: to customers by failing to warn them that its floor is slippery after a rainstorm, or by failing to do a criminal background check before hiring a person to supervise a child-care center or fa..

  What skills-equipment-tools are required at step of process

The process for filling a prescription at a large retail pharmacy begins when a customer’s physician calls the pharmacy or the customer drops off a written prescription. Develop a flowchart that maps out this process. Determine if any opportunities e..

  What do you see as the benefits and limitations of the focus

What do you see as the benefits and limitations of the focus group findings. Do you think the task force plan for utilizing the focus groups is appropriate.

  Descriptive measures should be used for categorical variable

Specifically, what do descriptive statistics tell us about our sample data? How are the variance and standard deviation related to one another? What descriptive measures should be used for categorical variables? Why are these the only appropriate mea..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd