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:
FOR MORE CLASSES VISIT www. gb519rank. com
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