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What does the shadow price reflect in a maximization problem?

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What does the shadow price reflect in a maximization problem? Please explain;How do the graphical and computer-based methods of solving LP problems differ? In what ways are they the same? Under what circumstances would you prefer to use the graphical approach?;How does sensitivity analysis affect the decision making process? How could it be used by managers?

 

Paper#27558 | Written in 18-Jul-2015

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