A Shadow Price Reflects Which of the Following in a Maximization

question 31

Multiple Choice

A shadow price reflects which of the following in a maximization problem?

• A)The marginal cost of adding additional resources
• B)The marginal gain in the objective value realized by adding one unit of a resource
• C)The marginal loss in the objective value realized by adding one unit of a resource
• D)The marginal gain in the objective value realized by subtracting one unit of a resource
• E)None of the above

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Definitions:

Biological Factors

Aspects of biological systems, including genetic, neurological, or physiological conditions, that influence an individual's behavior or health.

Social-cognitive Perspective

A psychological approach that emphasizes the impact of cognitive processes and social interactions on behavior.

Albert Bandura

A psychologist known for his work in social learning theory, emphasizing the role of observational learning, self-efficacy, and reciprocal determinism in behavior.

Five-factor

A model describing human personality traits using five broad dimensions: openness, conscientiousness, extraversion, agreeableness, and neuroticism.