100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached 4.2 TrustPilot
logo-home
Exam (elaborations)

Test Item File- Practice Test Bank - Economics for Managers, International Edition, 11th,McGuigan

Rating
-
Sold
-
Pages
107
Grade
A+
Uploaded on
20-07-2024
Written in
2023/2024

The test bank accompanying Economics for Managers, International Edition, 11th,McGuigan is your short-cut for exam success. It includes large pool of practice questions created specifically for the textbook used in your class. All answers included. 100% Authentic. Mastering those questions is a sure way to excel and pass the class.

Show more Read less











Whoops! We can’t load your doc right now. Try again or contact support.

Document information

Uploaded on
July 20, 2024
Number of pages
107
Written in
2023/2024
Type
Exam (elaborations)
Contains
Questions & answers

Content preview

Practice Test Questions




Web Chapter C


Linear-Programming Applications


1)The fixed per-unit profit contribution coefficients of the objective function in a linear programming problem
imply the following economic assumptions except:

a)selling prices per unit of the products (outputs) are constant

b)constant returns to scale in the production process

c)buying prices per unit of the resources (inputs) are proportional to the amount purchased

d)both b and c

e)both a and c



2)Which of the following statements concerning dual variables is (are) T?

a)Dual variables are obtained automatically in an algebraic solution of a linear programming problem.

b)Dual variables are similar to the artificial variables used in the Langrange Multiplier technique.

c)A dual variable indicates how much the objective function will change if one additional unit of a
given resource is made available, provided that the increase in the resource does not shift the
optimal solution to another corner of the feasible solution space.

d)a and c

e)a, b, and c



3)If the primal linear programming problem has two variables and four constraints (excluding the non-
negativity constraints), the corresponding dual linear programming problem will have
___________________.

a)two variables and four constraints

b)four variables and two constraints

c)two variables and two constraints


204

,Practice Test Questions



d)four variables and four constraints

e)none of the above



4)A dual variable equal to zero in the optimal solution to a profit-maximization linear programming problem
indicates that the objective function will not increase if an additional unit of the given resources is
made available.

a)T

b)F



5)An optimal solution of a linear programming problem always lies on the boundary of the feasible solution
space.

a)T

b)F



6)A primal linear programming problem has multiple optimal solutions if it contains two or more variables.

a)T

b)F



7)An optimal solution of a linear programming problem always occurs at one (or more) of the corner points of
the feasible solution space.

a)T

b)F



8)Slack variables are given coefficients of ______ in the objective function.

a)+1

b)0

c)1

d)+.00001

e)none of the above

205

,Practice Test Questions




9)In a maximization linear programming problem, the ________ variables represent the difference between
the right-hand sides and left-hand sides of less than or equal to () inequality constraints.

a)dual

b)slack

c)primal

d)both a and b

e)none of the above



10)In a minimization linear programming problem, the ________ variables are subtracted from the greater
than or equal to () inequality constraints in order to convert these constraints to equalities.

a)dual

b)primal

c)surplus

d)both a and b

e)both a and c



11)A computer solution of large-scale linear programming problems typically employs a procedure (or
variation of the procedure) known as the method.

a)least squares

b)analysis of variance

c)simplex

d)primal/dual

e)none of the above



12) variables are given coefficients of zero in the objective function of a minimization linear
programming problem.

a)Primal

b)Dual

206

, Practice Test Questions



c)Surplus

d)Dummy

e)none of the above




207

Get to know the seller

Seller avatar
Reputation scores are based on the amount of documents a seller has sold for a fee and the reviews they have received for those documents. There are three levels: Bronze, Silver and Gold. The better the reputation, the more your can rely on the quality of the sellers work.
TestBank4Textbooks Harvard Law School
View profile
Follow You need to be logged in order to follow users or courses
Sold
200
Member since
1 year
Number of followers
25
Documents
2972
Last sold
2 weeks ago
Practice tests and quizzes

You can find bunch of tests, quizzes, and practice exams for a lot of college-level textbooks and classes. We cover colleges in the U.S. , Canada and worldwide.

4.1

35 reviews

5
23
4
2
3
4
2
2
1
4

Recently viewed by you

Why students choose Stuvia

Created by fellow students, verified by reviews

Quality you can trust: written by students who passed their tests and reviewed by others who've used these notes.

Didn't get what you expected? Choose another document

No worries! You can instantly pick a different document that better fits what you're looking for.

Pay as you like, start learning right away

No subscription, no commitments. Pay the way you're used to via credit card and download your PDF document instantly.

Student with book image

“Bought, downloaded, and aced it. It really can be that simple.”

Alisha Student

Frequently asked questions