A Maximizing Linear Programming Problem Has Two Constraints: 2X

question 5

Multiple Choice

A maximizing linear programming problem has two constraints: 2X + 4Y < 100 and 3X + 10Y < 210, in addition to constraints stating that both X and Y must be nonnegative. The corner points of the feasible region of this problem are

• A) (0, 0), (50, 0), (0, 21), and (20, 15)
• B) (0, 0), (70, 0), (25, 0), and (15, 20)
• C) (20, 15)
• D) (0, 0), (0, 100), and (210, 0)
• E) none of the above

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Definitions:

Rent-seeking Activity

Actions by individuals or firms to increase their own wealth without creating new wealth or value for society.

Taxing

The act of imposing charges on individuals or entities by the government in order to finance public spending and services.

Benefits

The advantages or positive outcomes that accrue from actions, activities, or projects, often used in evaluating decisions.

Shortsightedness Effect

The tendency of policy makers or individuals to prioritize immediate benefits or gains over long-term interests and consequences, often leading to suboptimal outcomes.