The Objective Function for a Linear Optimization Problem Is: Max

question 47

Multiple Choice

The objective function for a linear optimization problem is: Max 3x + 5y, with one of the constraints being x, y ≥ 0 and integer. x and y are the only decisions variables. This is an example of a(n) _____.

• A) all-integer linear program
• B) mixed-integer linear program
• C) nonlinear program
• D) binary integer linear program

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Definitions:

Production Function

A production function is a mathematical model that describes the relationship between inputs used in production (like labor and capital) and the output produced.

Profit

The financial gain achieved when the revenues obtained from business activities exceed the expenses, costs, and taxes associated with maintaining the activity.

Commodity

A primary item used in trading that is replaceable with other items of the same type.

Maximise

To increase to the greatest possible amount or degree.