Which of the Following Is an Advantage of Flexible Benefit

question 48

Multiple Choice

Which of the following is an advantage of flexible benefit plans?

• A)They require no expenditure from the employers.
• B)They decrease the administrative burdens for employers.
• C)They decrease the costs as employees pick only those benefits they will use resulting in the subsequent high benefit utilization.
• D)They increase the involvement of employees in choosing benefit plans.

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Definitions:

Capacity Constraint

Limitations on the production capacity of a manufacturing plant, company, or economy, which can affect supply and pricing.

Binary Variable

A variable that has only two possible values, typically 0 and 1, to represent outcomes such as success/failure, yes/no, etc.

Objective Function

A mathematical function used in optimization to define the goal of the decision-making process, often involving maximizing or minimizing some quantity.

Shipping Cost

The expenses associated with transporting goods from one location to another.