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 102 labor-hours, 157 units of steel, and 123 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 forshs (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 102 labor-hours, 157 units of steel, and 123 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 forshs (Simplify your answers.)
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.4: Applications
Problem 6EQ: Redo Exercise 5, assuming that the house blend contains 300 grams of Colombian beans, 50 grams of...
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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 102 labor-hours, 157
units of steel, and 123 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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