Use the Following Graph to Answer the Following Questions

question 145

Multiple Choice

Use the following graph to answer the following questions:

-If this is a trading (open) economy,the price of a car will be

• A) $6,000.
• B) $8,000.
• C) $10,000.
• D) $14,000.
• E) $24,000.

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Definitions:

Constrained Resources

Resources in limited supply that restrict the ability of an organization to produce goods or services or achieve desired outcomes.

Linear Programming

A mathematical modeling technique used for optimization of a linear objective function, subject to linear equality and inequality constraints.

Sensitivity Analysis

A technique used to determine how different values of an independent variable will impact a particular dependent variable under a given set of assumptions.

Linear Programming

A mathematical method used for achieving the best outcome (such as maximum profit or lowest cost) in a mathematical model whose requirements are represented by linear relationships.