The Points Where Constraints Intersect on the Boundary of the Feasible

question 15

Multiple Choice

The points where constraints intersect on the boundary of the feasible region are termed as _____.

• A) feasible points
• B) extreme vertices
• C) extreme points
• D) feasible edges

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Definitions:

Line Segment

A part of a line that is bounded by two distinct endpoints, and contains every point on the line between its endpoints.

Producer Surplus

The difference between what producers are willing to accept for a good or service and the actual price they receive.

Price

The amount of money or value exchanged for the provision or acquisition of a good or service.

Surplus Amount

The excess of quantity supplied over quantity demanded in a market, often leading to lower prices.