Consider an optimization model with a number of resource constraints. Each indicates that the amount of...

Consider an optimization model with a number of resource constraints. Each indicates that the amount of the resource used cannot exceed the amount available. Why is the shadow price of such a resource constraint always zero when the amount used in the optimal solution is less than the amount available?

Solutions

Expert Solution

NOTE:: I HOPE YOUR HAPPY WITH MY ANSWER....***PLEASE SUPPORT ME WITH YOUR RATING....THANK YOU......

**PLEASE GIVE ME "LIKE"

orchestra answered 1 year ago

Next > < Previous

Related Solutions

Why is it generally necessary to a dd nonnegativity constraints to an optimization model? Wouldn’t Solver...

Why is it generally necessary to a dd nonnegativity constraints to an optimization model? Wouldn’t Solver automatically choose nonnegative value for the decision variable cells?

General question: how do you find constraints in an optimization problem?

General question: how do you find constraints in an optimization problem? For example, in this question:"Find two natural numbers whose sum is 16 and whose product is a maximum." the solution states that the constraint is that x would be between 1 and 15. Why not 0? In another example, where the questions asks "The perimeter of a rectangle is 24 cm. Find the dimensions of the rectangle of maximum area. What is the maximum area?", the constraint is...

Consider the consumer’s optimization problem in the one-period model. Utility is: u ( c , l...

Consider the consumer’s optimization problem in the one-period model. Utility is: u ( c , l ) = ln ⁡ ( c ) + γ ln ⁡ ( l ) where c is consumption of goods, l is leisure, and γ is a constant. The consumer’s nominal budget constraint is: P c = W ( h − l ) where P is the price of goods; W is the nominal wage; and h is the total hours in the period....

Create a project schedule based on task dependencies and resource constraints

PROBLEM SET 2.1A 1. For the Reddy Mikks model, construct each of the following constraints and...

PROBLEM SET 2.1A 1. For the Reddy Mikks model, construct each of the following constraints and express it with a linear left-hand side and a constant right-hand side: *(a) The daily demand for interior paint exceeds that of exterior paint by at least 1 ton. (b) The daily usage of raw material M2 in tons is at most 6 and ar least 3. *(c) The demand for interior paint cannot be less than the demand for exterior paint. (d) The...

A feature of each Facebook user’s profile is the number of “friends”, which indicates the user’s...

A feature of each Facebook user’s profile is the number of “friends”, which indicates the user’s social network connectedness. Among college students on Facebook, the average number of Facebook friends has been estimated to be around 250 from a 2008 study. An experiment was run to examine the relationship between the number of Facebook friends and the user’s perceived social attractiveness. A group of undergraduates were randomly assigned to observe one of three Facebook profiles. Everything about the profile was...

A) Many test cases. For each case, the first line is the number N that indicates...

A) Many test cases. For each case, the first line is the number N that indicates the amount of the students in the database. Next to several N lines are the information of each student, include student ID, name, gender, and age. And then will receive a number M that indicates there will be M search. For each search line is an ID number, you need to compare to the database if there is any student with that ID. If...

Consider the following linear optimization model. Z = 3x1+ 6x2+ 2x3 st 3x1 +4x2 + x3...

Consider the following linear optimization model. Z = 3x1+ 6x2+ 2x3 st 3x1 +4x2 + x3 ≤2 x1+ 3x2+ 2x3 ≤ 1 X1, x2, x3 ≥0 (10) Write the optimization problem in standard form with the consideration of slack variables. (30) Solve the problem using simplex tableau method. (10) State the optimal solution for all variables.

Resource optimization techniques involve the scheduling of activities and the resources required by those activities while...

Resource optimization techniques involve the scheduling of activities and the resources required by those activities while taking into consideration both the resource availability and: a. Project Time b. Trend Analysis c. Expert Judgement d. Data Analysis

The following indicates the number of hours that Johnny spent studying the week before each exam...

The following indicates the number of hours that Johnny spent studying the week before each exam in his classes along with the corresponding exam scores: Hours Studying: 4 5 8 12 15 19 Score on Exam: 54 49 60 70 81 94 Find the residual corresponding to the explanatory value of 8. a) 69.8263 b) −0.82 c) −69.8263 d) −126.34 e) 0.82

Subjects