All of the Following Statements About a Redundant Constraint Are

question 21

Multiple Choice

All of the following statements about a redundant constraint are correct EXCEPT

• A)a redundant constraint does not affect the optimal solution.
• B)a redundant constraint does not affect the feasible region.
• C)recognizing a redundant constraint is easy with the graphical solution method.
• D)at the optimal solution,a redundant constraint will have zero slack.

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Definitions:

Budget Line

A graphical representation of all possible combinations of two goods that can be purchased with a given budget and prices.

Substitution Effect

The substitution effect describes the change in consumption patterns due to a change in relative prices, leading consumers to substitute a product for a cheaper alternative.

Income Effect

The adjustment in demand for goods and services triggered by a change in consumers' discretionary income.

Income Increases

Situations where an individual's or household's earnings rise, potentially affecting their spending, saving, and investment behaviors.