The Assignment Method Is Used to

question 14

Multiple Choice

The assignment method is used to

• A)minimize opportunity costs.
• B)minimize column or row opportunity costs.
• C)maximize opportunity costs.
• D)maximize utilities.

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Definitions:

Yield Management

A variable pricing strategy based on understanding, anticipating, and influencing consumer behavior to maximize revenue or profits from a fixed, perishable resource (such as airline seats or hotel room bookings).

Controlling Cost

The process of monitoring and managing expenses to stay within budget and improve efficiency and profitability.

Labor

A measure of the work done by human beings.

Transportation Method

A mathematical optimization technique used for finding the most cost-efficient plan for distributing products from several suppliers to several consumers.