Let X₁ and X₂ Be 0 - 1 Variables Whose

question 48

Multiple Choice

Let x₁ and x₂ be 0 - 1 variables whose values indicate whether projects 1 and 2 are not done or are done. Which answer below indicates that project 2 can be done only if project 1 is done?

• A) x₁ + x₂ = 1
• B) x₁ + x₂ = 2
• C) x₁ − x₂ ≤ 0
• D) x₁ − x₂ ≥ 0

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Definitions:

Marginal Cost

The rise in overall expenses associated with producing an additional unit.

Total Revenue

Total revenue is the total amount of money generated by a business from the sale of its goods or services before any costs or expenses are subtracted.

Minimum Wage

A legally established lower limit on the hourly wage that employers can pay their employees.

Perfectly Competitive

Pertains to a market condition where all participants have equal access to information and transactions, resulting in an efficient distribution of resources.