AGEC 217 Menzies Exam 3 TAMU
Questions With 100% Verified Answers
T/F: If a constraint is binding, it will not have a shadow price -
correct answer ✅False
T/F: If a variable has a value in solver, it will have a reduced cost -
correct answer ✅False
What is a not binding constraint -
correct answer ✅not used up
If you have a problem in LP with 4 supply points and 6 demand
points how many constraints will you have? how many variables? -
correct answer ✅4 x 6 = 24 variables
4 + 6 = 10 constraints
limits are relaxed by _________ the constraint -
correct answer ✅raising
Requirements are relaxed by _________________ -
correct answer ✅lowering the constraint
, AGEC 217 Menzies Exam 3 TAMU
Questions With 100% Verified Answers
Limit -
correct answer ✅<=
Requirement -
correct answer ✅>=
Reduced equals _____ if the variable has a value -
correct answer ✅0
Shadow price equals ________ if not binding -
correct answer ✅0
Profit = -
correct answer ✅revenue - cost
we are looking for -
correct answer ✅max profit, min cost, revenue
Which cell is being maximized? -
correct answer ✅min cost, max profit, revenue, utility
Questions With 100% Verified Answers
T/F: If a constraint is binding, it will not have a shadow price -
correct answer ✅False
T/F: If a variable has a value in solver, it will have a reduced cost -
correct answer ✅False
What is a not binding constraint -
correct answer ✅not used up
If you have a problem in LP with 4 supply points and 6 demand
points how many constraints will you have? how many variables? -
correct answer ✅4 x 6 = 24 variables
4 + 6 = 10 constraints
limits are relaxed by _________ the constraint -
correct answer ✅raising
Requirements are relaxed by _________________ -
correct answer ✅lowering the constraint
, AGEC 217 Menzies Exam 3 TAMU
Questions With 100% Verified Answers
Limit -
correct answer ✅<=
Requirement -
correct answer ✅>=
Reduced equals _____ if the variable has a value -
correct answer ✅0
Shadow price equals ________ if not binding -
correct answer ✅0
Profit = -
correct answer ✅revenue - cost
we are looking for -
correct answer ✅max profit, min cost, revenue
Which cell is being maximized? -
correct answer ✅min cost, max profit, revenue, utility
