A Fixed Input Is One

question 309

Multiple Choice

A fixed input is one:

• A)that only exists in nature,and there is only so much of it.
• B)that can be used for one thing only.
• C)that can never produce more or less in any period.
• D)whose quantity cannot be changed in the short run.

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Definitions:

Objective Function

A function that one seeks to optimize, usually in mathematical optimization problems. It represents the goal of an optimization problem.

Optimal Solution

The most efficient and effective answer to a problem, typically found through systematic analysis or computation, that maximizes or minimizes desired factors.

Transportation Problem

A type of optimization issue in operations research that involves finding the most efficient way to distribute goods from several suppliers to several consumers.

Improvement Index

A metric or measure used to gauge the level of performance enhancement or progress in a given area or system over a period.