George Dantzig Is Important in the History of Management Science

question 11

Multiple Choice

George Dantzig is important in the history of management science because he developed

• A)the scientific management revolution.
• B)World War II operations research teams.
• C)the simplex method for linear programming.
• D)powerful digital computers.

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Definitions:

Oligopolists

Firms that are part of an oligopoly, a market structure characterized by a small number of firms that have significant control over market prices and competition.

Homogeneous Product

A product that is viewed as identical no matter who produces it, making it impossible for consumers to distinguish between products based on brand or quality.

Peach Suppliers

Businesses or individuals that provide peaches to the market, contributing to the supply of this specific type of fruit.

Oligopolists

Companies within an oligopoly, a market structure characterized by a small number of firms controlling a large portion of the market share.