In an Assignment Model Where There Are Fewer Jobs Than

question 45

Multiple Choice

In an assignment model where there are fewer jobs than resources

• A)dummy jobs are needed to solve the problem.
• B)dummy resources are needed to solve the problem.
• C)the problem cannot be solved using an assignment model.
• D)the problem will have multiple optimum solutions.
• E)the simplex method must be used to solve the problem.

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Definitions:

Producer Surplus

The gap between the price sellers are willing to accept for their goods or services and what they end up receiving.

Consumer Surplus

The discrepancy between the amount consumers are prepared to pay for a product or service and the amount they end up paying.

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded, typically downward sloping, indicating an inverse relationship.

Marginal Cost

The cost of producing one more unit of a good or service, considering variable costs but not fixed costs.