Final answer:
The shadow price is $0.60 per board foot, the current availability of wood is 5000 board feet, and the range of feasibility is between 4700 and 5600 board feet.
Step-by-step explanation:
The correct answer is 4) All of the above.
The shadow price of a constraint represents the amount that the objective function value will change for a one-unit increase in the right-hand side of the constraint, assuming all other constraints and variables are held at their current optimal levels.
In this case, the shadow price of the constraint representing the current availability of wood is $0.60 per board-foot. This means that for each additional board-foot of wood that becomes available, the objective function value will increase by $0.60.
The current availability of wood is indeed 5000 board feet, as stated in the question. Finally, the range of feasibility for the constraint is between 4700 and 5600 board feet.
Therefore, all three statements are correct. The shadow price is indeed $0.60 per board foot, the current availability of wood is 5000 board feet, and the range of feasibility is between 4700 and 5600 board feet.