Question: 4. (a) What is shadow price? How does the concept relate to the dual of an LP problem? How does it relate to the primal?

4.

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

(b) 'The range of validity of a shadow price can have a finite lower bound and an infinite upper bound.'
Do you agree? Explain.

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