A company manufactures paring knives and pocket knives. Each paring knife requires 3 labor-hours, 7 units of steel, and

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A company manufactures paring knives and pocket knives. Each paring knife requires 3 labor-hours, 7 units of steel, and

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A Company Manufactures Paring Knives And Pocket Knives Each Paring Knife Requires 3 Labor Hours 7 Units Of Steel And 1
A Company Manufactures Paring Knives And Pocket Knives Each Paring Knife Requires 3 Labor Hours 7 Units Of Steel And 1 (16.41 KiB) Viewed 9 times
A company manufactures paring knives and pocket knives. Each paring knife requires 3 labor-hours, 7 units of steel, and 4 units of wood. Each pocket knife requires 6 labor hours, 5 units of steel, and 3 units of wood. The profit on each paring knife is $3, and the profit on each pocket knife is $5. Each day the company has available 102 labor hours, 130 units of steel, and 117 units of wood, Suppose that the number of labor-hours that are available each day is increased by h. For what values of h will a change of h tabor-hours not change the shadow price of labor? The shadow price of labor will not change for sh (Simplify your answers.)
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