Which Is Not Required for a Problem to Be in Tableau

question 33

Multiple Choice

Which is not required for a problem to be in tableau form?

• A) Each constraint must be written as an equation.
• B) Each of the original decision variables must have a coefficient of 1 in one equation and 0 in every other equation.
• C) There is exactly one basic variable in each constraint.
• D) The right-hand side of each constraint must be nonnegative.

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Definitions:

Competitive Industries

Sectors of the economy where businesses actively compete with each other to offer goods or services to consumers, often characterized by low barriers to entry and a high level of innovation.

Allocative Efficiency

A state of resource allocation where goods and services are distributed according to consumer preferences, maximizing overall societal welfare.

Productive Efficiency

A situation where a firm or economy produces output at the lowest possible cost, using all its resources efficiently.

Pure Competition

A market structure characterized by a large number of small firms, a homogenous product, and very easy entry and exit from the market.