The Variable to Remove from the Current Basis Is the Variable

question 31

True/False

The variable to remove from the current basis is the variable with the smallest positive c_j − z_j value.

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Definitions:

Good

An item or service that satisfies human wants and provides utility, which can be transferred or sold.

Sellers

Individuals or entities that offer goods or services in exchange for monetary or other forms of compensation.

Producer Surplus

Producer surplus is an economic measure of the difference between the amount a producer is paid for a good compared to the minimum amount they would accept to produce that good.

Market Price

is the current price at which an asset or service can be bought or sold in the open market.