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Shadow price

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5. What is a shadow price? How does the concept relate to the dual of an LP problem? How does it relate to the primal?

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Solution Summary

Solution describes shadow price and explains how it is related to the dual of an LP problem.

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Please see response to your question as given below.

Shadow price is another name given to dual price. It indicates per unit worth of a resource or right hand side measurement unit. Some textbooksoptimization software call it ...

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