There Are Three Jobs to Be Done and Three Resources

question 97

Essay

There are three jobs to be done and three resources with which to do them. Each resource will cost a specific amount to do each job, as shown in the following table:
$$\begin{array} { l c c c } && { \text { Machine } } \\\text { Job } & \text { A } & \text { B } & \text { C } \\\hline 1 & 6 & 9 & 4 \\2 & 4 & 4 & 3 \\3 & 8 & 7 & 4\end{array}$$ What is the result of modifying the row and column reductions table?

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Definitions:

Stock Put Option

A financial derivative that gives the holder the right, but not the obligation, to sell a stock at a specified price within a specified time period.

Stock Price

The price at which a particular stock is bought or sold on the market.

Put Contract

A financial contract giving the holder the right, but not the obligation, to sell a specific amount of an underlying asset at a set price within a specified time.

Put Premium

A Put Premium is the price that the buyer of a put option pays to have the right to sell a specified amount of an underlying asset at a set price before the option expires.