When Appropriate, the Optimal Solution to a Maximization Linear Programming

question 66

Multiple Choice

When appropriate, the optimal solution to a maximization linear programming problem can be found by graphing the feasible region and

• A)finding the profit at every corner point of the feasible region to see which one gives the highest value.
• B)moving the isoprofit lines towards the origin in a parallel fashion until the last point in the feasible region is encountered.
• C)locating the point that is highest on the graph.
• D)sliding the constraints to find the greatest point of intersection.

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Definitions:

Consumption

The use of goods and services by households or the amount of goods and services bought or used.

Utility Maximizer

An economic agent who seeks to obtain the highest level of utility or satisfaction from their choices, given their preferences and constraints.

Indifference Curve

A graph showing different bundles of goods between which a consumer is indifferent, indicating the same level of satisfaction or utility for each bundle.

Budget Line

A diagram that represents all the possible pairs of two commodities that a buyer can afford, taking into account their budget and the pricing of these commodities.