Examlex
What is the process of minimizing the harm caused by the unethical behavior?
Profit Maximization
The process of identifying the price level and production volume that generate the highest possible profit for a business.
Decision Variables
The choices or alternatives available to decision-makers within a mathematical model or decision-making process.
Objective Function
A mathematical representation of the goal of an optimization problem, often involving maximizing or minimizing some quantity.
Objective Function
A mathematical function that represents the goal or objective of an optimization problem, typically to be maximized or minimized.
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