Examlex
If, as a person consumes more and more of a good, each additional unit adds less satisfaction than the previous unit consumed, we are seeing the workings of
Stepping-Stone Method
A mathematical procedure used in transportation and logistics to find the most cost-effective way to distribute products from multiple sources to multiple destinations.
Optimal Solution
The best possible answer or strategy obtained from a selection of alternatives that maximizes or minimizes an objective function within given constraints.
Intuitive Method
A decision-making process that relies on the decision maker's instincts, feelings, or gut reactions rather than on systematic analysis.
Problem Solver
An individual or tool that identifies, analyzes, and resolves issues through logical analysis or creative thinking.
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