Question

4. What is shadow price? Explain the shadow prices of each of the constraints. 5. What is the new cost if the objective coefficient of door increases by 10, window decreases by10? 6. What is the reduced cost of chairs? How will you calculate this value and what do you understand from it? 7. What would be the new cost if the company decreases 10 units of wood and demand for doorgoes to 2 from the current 4? 8. Identify the range of right-hand side of constraints.

Fig: 1

Fig: 2

Fig: 3

Fig: 4

Fig: 5

Fig: 6