shadow price

This topic has 1 reply, 2 voices, and was last updated 13 years ago by John Moffat.

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May 27, 2013 at 11:59 am #127326
namratajain2012
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in kaplan revision kit Q.18 Cut and Stitch-part c. since the shadow price is less than the offered price. therefore the offer is unacceptable ?
May 27, 2013 at 5:05 pm #127364
John Moffat
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The shadow price is the most EXTRA that you would be prepared to pay for one extra unit of the limited resource.
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