Examlex

Solved

A Linear Programming Model Has a Constraint That Reflects a Budget

question 40

True/False

A linear programming model has a constraint that reflects a budget restriction of $100,000.The range of feasibility for this amount, reflected on the sensitivity report, is $85,000 to $325,000.Thus if the budget restriction is changed to $90,000, the optimal solution will not change.


Definitions:

Alternative Technologies

Refers to varying methods, tools, or systems that can be used as substitutes for each other in achieving a similar outcome, often considered in the context of environmental sustainability or efficiency improvements.

Hourly Wage Rate

The compensation employees receive for every hour they work.

Production Technology

The methods, equipment, and processes used to produce goods and services, impacting efficiency and output levels.

Economists

Professionals who study, develop, and apply theories and concepts from economics and write about economic policy.

Related Questions