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Can u pls explain what is slack, surplus & binding constraints in linear programming? And can u show the calculation on how to get the slack, surplus & binding units of the resources?
Is it true that slack is where output is less than expected demand which results in a loss. But surplus is where output exceeds resources being utilised so it is profitable whereas binding results in no profit & loss?
Thanks in advance 🙂
Slack is when there is a limited amount of a constraint available but that not all of it is being used, so there is some spare.
Surplus is less common but is where there is a great than or equal constraint, e.g. that they must produce more than a certain amount of one of the products. Any extra produced over the minimum amount is the surplus.
I do explain all of this in my free lectures on linear programming.
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