Use the Table Below to Answer the Following Questions

question 83

Multiple Choice

Use the table below to answer the following questions.
Table 11.1.1
-Refer to Table 11.1.1 which gives the demand schedule for a perfectly competitive firm.If the firm sells 5 units of output,total revenue is

• A)$15.
• B)$30.
• C)$75.
• D)$90.
• E)$105.

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Definitions:

Dual Value

A concept in linear programming and optimization, representing the worth of relaxing a constraint by one unit in the objective function.

Redundant Constraint

A constraint in a mathematical model that does not affect the feasible region or solution because it is already implied by other constraints.

Linear Programming

A mathematical methodology used to achieve the best outcome in a model with linear relationships, subject to constraints, commonly applied in optimization scenarios.

Dual Value

The concept of having two different values or outcomes in a single scenario, often used in decision making and evaluation processes.