Which of the Following Is Not a Component of a Linear

question 58

Multiple Choice

Which of the following is not a component of a linear programming model?

• A)Constraints
• B)Decision variables
• C)Parameters
• D)An objective
• E)A spreadsheet

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Definitions:

Long-run Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity supplied over a long period, when all inputs can be varied.

Profit per Unit

Is the difference between the selling price of a product and the cost to produce it, expressed on a per-unit basis.

Perfect Competition

Perfect competition describes a market structure where numerous small firms compete against each other, and goods are homogeneous, leading to no single firm having market power and prices being determined purely by supply and demand.

Economic Profits

The excess of total revenues over total costs, including both explicit and implicit costs.