The Difference Between the Left-Hand Side and Right-Hand Side of a Less-Than-Or-Equal-To

question 85

Multiple Choice

The difference between the left-hand side and right-hand side of a less-than-or-equal-to constraint is referred to as

• A)surplus.
• B)constraint.
• C)slack.
• D)shadow price.

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Definitions:

Enforceable

Capable of being imposed or carried out by legal action or authority; describes a rule, contract, or law that can be legally upheld.

Bargained For

In contract law, referring to an exchange that parties agree upon, which forms the basis for a legally enforceable contract.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise made to a second party if the latter has reasonably relied on that promise to their detriment.

Reasonable Amount

An amount that is fair and moderate, not excessive or extreme.