The Optimization Rule for Unconstrained Optimization Is to Select That

question 71

Multiple Choice

The optimization rule for unconstrained optimization is to select that level of activity at which

• A)marginal benefit equals marginal cost.
• B)total benefit is less than total cost.
• C)total benefit is equal to total cost.
• D)marginal benefit exceeds marginal cost.

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Definitions:

Psychographics

The study and classification of people according to their attitudes, aspirations, and other psychological criteria, especially in market research.

Demographics

The statistical characteristics of human populations, such as age, gender, income, and education, used especially to identify markets.

Buyer Persona

A semi-fictional representation of the ideal customer based on market research and real data about existing customers, helping businesses to understand and cater to their target audience.

Tornado

A violently rotating column of air that is in contact with both the surface of the Earth and a cumulonimbus cloud or, in rare cases, the base of a cumulus cloud.