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  3. Chapter 5: Optimization
  4. Optimization constrained extremum problems
  5. Method of Lagrange
  6. Exercise 2

Exercise 2

A constrained extremum problem with restriction x+4y=8 has as solution z(1,2)=12. The shadow price is λ=−3. Approximate the value of the minimum if we change the restriction into x+4y=7.
9
15
11
13
A constrained extremum problem with restriction x+4y=8 has as solution z(1,2)=12. The shadow price is λ=−3. Approximate the value of the minimum if we change the restriction into x+4y=7.
Antwoord 1 correct
Correct
Antwoord 2 optie
9
Antwoord 2 correct
Fout
Antwoord 3 optie
13
Antwoord 3 correct
Fout
Antwoord 4 optie
11
Antwoord 4 correct
Fout
Antwoord 1 optie
15
Antwoord 1 feedback
Correct: The shadow price is negative. Hence, if the constant in the constraint is lowered, then the value of the minimum increases: 12−(−3)=15.

Go on.
Antwoord 2 feedback
Wrong: The shadow price is negative.

Try again.
Antwoord 3 feedback
Wrong: The shadow price indicates by much the value of the minimum changes approximately if the constant in the restriction increases by one.

See
Antwoord 4 feedback
Wrong: The shadow price indicates by much the value of the minimum changes approximately if the constant in the restriction increases by one.

See