LP Basics. Indicate whether each of the following statements is true or false and why.
A. In profit maximization linear programming problems, negative values for slack variables are impossible.
B. Binding constraints indicate positive slack variables at the optimum solution.
C. Points not on process rays represent unattainable technologies.
D. Constant input prices is the only requirement for a total cost function to be linear.
E. Changing input prices will not alter the slope of a given isoquant line.

Question

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The Answer of LP Basics. Indicate whether each of the following statements is true or false and why.
A. In profit maximization linear programming problems, negative values for slack variables are impossible.
B. Binding constraints indicate positive slack variables at the optimum solution.
C. Points not on process rays represent unattainable technologies.
D. Constant input prices is the only requirement for a total cost function to be linear.
E. Changing input prices will not alter the slope of a given isoquant line.

LP Basics Indicate Whether Each of the Following Statements Is True