Linear Programing

[limit_to_infinity]

hi friends,

i was just wondering if we can use linear programing for one limiting factor
am confused over this because most of the folks are of the opinion that its not possible however when i made a graphical picture for one limiting factor i got the same optimal production plan which is the result of contribution analysis

[Tammi]

Hi,
The techniques we use depends on the number of limiting factors:

one limiting factor - key factor analysis
two limiting factors - linear programming
two limiting factors with more than two products - simpex algorithm (not included in the syllabus)
three and more limiting factors - you shouldn't produce it :laugh:

Of course you can get the same answer for one limiting factor when using linear programming. But why should we use it when key factor analysis is much easier and faster way to find the solution.

What will you do when there is one limiting factor and several products, e.g. 5 products?
Will you draw several graphs? :)

[Carmenkkm424]

Hi everyone,
Can u explain the relationship between relavant cost, slack price, shadow(dual) price and opportunity cost to me. pls provide definition as well. Thanks!:

Besides, in the note that have been stated, critical constraints have no slack, only critical contraints have non-zero shadow prices. what does it mean?