The Amount the Objective Function Coefficient of a Decision Variable

question 4

Multiple Choice

The amount the objective function coefficient of a decision variable would have to improve before that variable would have a positive value in the solution is the

• A)dual price.
• B)surplus variable.
• C)reduced cost.
• D)upper limit.

---

Definitions:

Unemployment Rate

The ratio of unemployed individuals in the labor force who are earnestly looking for work.

Minimum Wage

The lowest legal salary that employers can pay to workers, aimed at protecting workers from exploitation.

Equilibrium Employment

The level of employment where the quantity of labor supplied is equal to the quantity of labor demanded.

Labor-Force Participation

The percentage of the working-age population that is engaged in the labor market, either employed or actively seeking employment.