To Formulate a Transshipment Problem as a Linear Program Similar

question 13

Multiple Choice

To formulate a transshipment problem as a linear program similar to the transportation problem,transshipment points must:

• A)equate the total input into each of them to the total output from them.
• B)equate (balance)total cost of shipping to each of them to the total cost of shipping output from them.
• C)ensure total input to all of them is less than the total supply available.
• D)ensure total input to all of them is sufficient for the total demand of destinations.
• E)balance shipments so that each transshipment point receives and ships an equal quantity.

---

Definitions:

Demand Curve

A chart depicting how the cost of an item correlates with the amount of that item buyers are prepared to purchase.

Barriers to Entry

Economic, procedural, regulatory, or technological factors that obstruct or restrict the ability of new competitors to enter a market.

Economic Profits

The surplus achieved when revenue generated from business activities exceeds both explicit and implicit costs.

Long Run

A period of time in which all factors of production and costs are variable, and firms can adjust all inputs.