OPERATIONS RESEARCH >INTERNATIONAL EDITI
OPERATIONS RESEARCH >INTERNATIONAL EDITI
4th Edition
ISBN: 9780534423629
Author: WINSTON
Publisher: CENGAGE L
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Chapter 5.1, Problem 5P

a.

Explanation of Solution

Value of price

  • In this case the slope of the profit line is -1/2.
  • So the profit line i...

b.

Explanation of Solution

Value of price

  • The current basis remains optimal for some values of type 2 radio...

c.

Explanation of Solution

Optimal solution

  • When both the constraints are binding, then the solution is optimal...

d.

Explanation of Solution

Optimal solution

  • Optimal solution occurs when both the constraints are binding...

e.

Explanation of Solution

Shadow price

  • For labour 1, if 40 + ∆ hours are available, then the optimal solution is

    x1+ 2x2= 40 + 2x1+ x2= 50.

  • Thus labour 1 gives shadow price as 1/3

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