The shadow price is the price that reflects the optimal utilization of the resource calculated by the linear rule method. The shadow price of the resource is described by calculus, that is, when the resource increases by a quantity and the new maximum value of the objective function is obtained, the maximum value of the objective function increases. The ratio of the amount to the increment of the resource is the first-order partial derivative of the objective function to the constraint condition (i.e. resource). When the linear programming method is used to solve the optimal utilization of resources, that is, the process of solving how to maximize the total output of limited resources, obtaining corresponding minimum value and the solution is a dual solution.The minimum value is used as an economic evaluation of resources, which is expressed as shadow price.
According to the above definition, what is the shadow price?
A philosophical concept