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Exercise

Shadow price and slack exercise pt1

You are planning what cupcakes a bakery should make. The bakery can make either:

  • regular size cupcake: profit = $5
  • a jumbo cupcake twice the regular size: profit = $10

There are 2 constraints on oven hours (30) and worker hours (65). This scenario has been modeled in PuLP for you and a solution found. The model status, decision variables values, objective value (i.e. profit), the shadow prices and slack of the constraints have been printed in the shell.

The sample script is a copy of that code. You will adjust the constraints to see how the optimal solution changes.

Instructions 1/4

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  • 1
    • Increase the 1st constraint to 31. Run the code and see the change in the objective compared to the original solution.
  • 2
    • Increase the 2nd constraint to 80. Run the code and see no change in the objective compared to the original solution.
  • 3
    • Decrease the 2nd constraint to 60. Run the code and see no change in the objective compared to the original solution.
  • 4

    Decrease the 2nd constraint to 59. Run the code and see a change in the objective value, and the amount of production.