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A company manufactures paring knives and pocket knives. Each paring knife requires 3 labor-hours, 7 units of steel, and 4 units of wood. Each pocket knife requires 6 labor-hours, 5 units of steel, and 3 units of wood. The profit on each paring knife is $3, and the profit on each pocket knife is $5. Each day the company has available 78 labor-hours, 137 units of steel, and 117 units of wood. Suppose that the number of labor-hours that are available each day is increased by h. For what values of h will a change of h labor-hours not change the shadow price of labor? ... The shadow price of labor will not change for shs Simplify your answers.)

A company manufactures paring knives and pocket knives. Each paring knife requires 3 labor-hours, 7 units of steel, and 4 units of wood. Each pocket knife requires 6 labor-hours, 5 units of steel, and 3 units of wood. The profit on each paring knife is $3, and the profit on each pocket knife is $5. Each day the company has available 78 labor-hours, 137 units of steel, and 117 units of wood. Suppose that the number of labor-hours that are available each day is increased by h. For what values of h will a change of h labor-hours not change the shadow price of labor? ... The shadow price of labor will not change for shs Simplify your answers.)

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter3: Introduction To Optimization Modeling
Section: Chapter Questions
Problem 32P
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A company manufactures paring knives and pocket knives. Each paring knife requires 3 labor-hours, 7 units of steel, and 4 units of wood. Each pocket knife requires 6 labor-hours, 5 units of steel, and 3 units of wood. The profit on each paring knife is $3, and the profit on each pocket knife is $5. Each day the company has available 78 labor-hours, 137 units of steel, and 117 units of wood. Suppose that the number of labor-hours that are available each day is increased by h. For what values of h will a change of h labor-hours not change the shadow price of labor? ... The shadow price of labor will not change for Shs (Simplify your answers.)
Transcribed Image Text:A company manufactures paring knives and pocket knives. Each paring knife requires 3 labor-hours, 7 units of steel, and 4 units of wood. Each pocket knife requires 6 labor-hours, 5 units of steel, and 3 units of wood. The profit on each paring knife is $3, and the profit on each pocket knife is $5. Each day the company has available 78 labor-hours, 137 units of steel, and 117 units of wood. Suppose that the number of labor-hours that are available each day is increased by h. For what values of h will a change of h labor-hours not change the shadow price of labor? ... The shadow price of labor will not change for Shs (Simplify your answers.)
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