Which of the following is an appropriate definition of reduced cost? The amount by which a...

Which of the following is an appropriate definition of reduced cost?

The amount by which a constraint right-hand side must increase in order to get a unit increase in the objective function.

The amount an objective function coefficient must change in order for its associated decision variable to take on a value above its lower bound (0 in most cases).

The amount by which the objective function will change if a constraint right-hand-side is increased by one unit.

The amount by which a constraint right-hand-side must change in order to get the associated decision variable to take on a value above its lower bound.

Expert Solution

Correct option is:

The amount an objective function coefficient must change in order for its associated decision variable to take on a value above its lower bound (0 in most cases).

jeff jeffy answered 2 years ago

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