1 . Question : The shadow price in a linear programming model is :
Student Answer : Interesting from a mathematical standpoint , but not useful from an accounting standpoint . Equal to the current market price for an additional unit of the related resource . The price one would be willing to pay for an additional unit of the scarce resource . Greater than the market price for the related resource . Zero for a binding constraint .
Question 2 . Question : Determination of the optimum short-term product mix needs to
include an analysis of : Student Answer :
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UNIT 4 QUIZ
1 . Question : The shadow price in a linear programming model is :
Student Answer : Interesting from a mathematical standpoint , but not useful from an accounting standpoint . Equal to the current market price for an additional unit of the related resource . The price one would be willing to pay for an additional unit of the scarce resource . Greater than the market price for the related resource . Zero for a binding constraint .
Question 2 . Question : Determination of the optimum short-term product mix needs to