In a Linear Programming Problem,the Objective Function and the Constraints

question 7

True/False

In a linear programming problem,the objective function and the constraints must be linear functions of the decision variables.

---

Definitions:

Competitive Equilibrium

A state in a market where supply equals demand, with no external influences altering the price or quantity.

Constant-Cost Industries

Industries where the costs of production do not change as the total output increases or decreases.

Economic Efficiency

A state where resources are allocated in a way that maximizes the production of goods and services.

Constant-Cost Industry

An industry in which the costs of production, including input prices, do not change as the industry's output changes.