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ECON 3300 QUIZ 2 CH 2,3,4 WITH ANSWERS
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ECON 3300 QUIZ 2 CH 2,3,4 WITH ANSWERS
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ECON 3300 QUIZ 2 CH 2,3,4 WITHANSWERS
Decision variables
Question 1 options:
tell how much or how many of something to produce, invest, purchase, hire, etc.
represent the values of the constraints
measure the objective function
must exist for each constraint
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Question 2 (1 point)
Slack
Question 2 options:
is the difference between the left and right sides of a constraint.
, ECON 3300 QUIZ 2 CH 2,3,4 WITH
ANSWERS
is the amount by which the left side of a < constraint is smaller than the right side
is the amount by which the left side of a > constraint is larger than the right
side
exists for each variable in a linear programming problem
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Question 3 (1 point)
To find the optimal solution to a linear programming problem using the graphical method
Question 3 options:
find the feasible point that is the farthest away from the origin
, ECON 3300 QUIZ 2 CH 2,3,4 WITH
ANSWERS
find the feasible point that is at the highest location
find the feasible point that is closest to the origin
None of the alternatives is correct
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Question 4 (1 point)
The changes in the value of the objective function per unit increase in a right-hand side is the
Question 4 options:
sensitivity value
shadow price
constraint coefficient
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