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Does the following linear programming problem exhibit infeasibility, unboundedness, or alternate optimal solutions? Explain.
Min
1X + 1Y
s.t.
5X + 3Y ≤ 30
3X + 4Y ≥ 36
Y ≤ 7
X , Y ≥ 0
Online Reverse Auctions
Digital marketplaces where suppliers bid to sell their goods or services to a buyer, with prices typically decreasing over time, often used to enhance competitiveness and reduce costs.
Competitive Supply Market
Refers to a market environment where multiple suppliers are competing to offer products or services, usually driving down prices and increasing quality.
Switch Suppliers
The process of changing from one supplier to another to improve service, reduce costs, or gain other advantages.
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A statistical technique in decision-making used for the selection of a limited number of tasks that produce significant overall effect. It uses the principle that 80% of results come from 20% of the actions.
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