If X > 0 in the Primal Solution

question 11

Multiple Choice

If X > 0 in the primal solution:

• A) the marginal value of inputs just equals the marginal value of output in X production.
• B) the marginal value of inputs exceeds the marginal value of output in X production.
• C) L_X > 0 in the dual solution.
• D) L_X < 0 in the dual solution.

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Definitions:

Cost

The value, usually in monetary terms, required to produce, acquire, or maintain a good or service.

Insurance

A contract (policy) in which an individual or entity receives financial protection or reimbursement against losses from an insurance company.

Breach of Warranty

A violation of the terms of an express or implied warranty, where the promised standard or quality of a product or service is not met.

Consideration

A fundamental component in contract law that involves something of value exchanged between parties, making the agreement legally binding.