Shadow Prices Represent

question 13

Multiple Choice

Shadow prices represent

• A)the value of one additional unit of a basic variable.
• B)the value of one less unit of a basic variable.
• C)the value of one less unit of a specific resource.
• D)the value of one additional unit of a specific resource.

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Definitions:

Binomial

A polynomial expression that contains exactly two terms, typically written in the form a+b.

Simplify

To make an expression less complex by combining like terms and executing arithmetic operations where possible.

Fraction

A numerical quantity that represents a part of a whole, typically in the form of a numerator divided by a denominator.

Exponent

A number that indicates how many times a base is multiplied by itself.