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The optimal combination of decision variables of a linear programming problem is x = 20 and y = 30. The given resource constraints are: 5x + 2y ≤ 150 and y ≥ 15. The shadow price of the second constraint is:
Common Good
A societal benefit that is shared and beneficial for all (or most) members of a community, such as clean air, public parks, and national defense.
Government Provision
The supply of goods or services provided by the government to its citizens, often funded by taxation.
Economic Goods
Products or services that have a positive economic value and thus are subject to scarcity, requiring consumers to make choices about their allocation.
Taxes
Compulsory contributions to state revenue, levied by the government on workers' income and business profits or added to the cost of some goods, services, and transactions.
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