A Maximizing Linear Programming Problem with Constraints C1, C2, and C3

question 94

Multiple Choice

A maximizing linear programming problem with constraints C1, C2, and C3 has been solved. The dual values associated with the problem are C1 = $2, C2 = $0.50, and C3 = $0. Which statement below is false?

• A) One more unit of the resource in C1 would add $2 to the objective function value.
• B) One more unit of the resource in C2 would add one more unit each of X and Y.
• C) The resource in C3 has not been used up.
• D) The resources in C1 and in C2, but not in C3, are scarce.
• E) The resource in C2 must be used up first.

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Definitions:

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A measure of the benefit provided by a good or service to an economic agent, often quantified in terms of willingness to pay or the amount of resources saved.

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