A Company Is Developing a Linear Programming Model for Its

question 50

Multiple Choice

A company is developing a linear programming model for its aggregate production plan.If Wt = workforce size for period t,Ht = number of workers hired for period t,and Ft = number of workers fired for period t,then the company's workforce constraint for period 2 is

• A)W2 = W1 + F2 - H2
• B)W2 = H2 - F2
• C)W2 = W1 + H2 - F2
• D)W2 = H2 - F2 - W1

---

Definitions:

Law of Diminishing Marginal Value

, also known as the Law of Diminishing Marginal Utility, states that as a person consumes more of a product, the satisfaction or utility from consuming each additional unit declines.

First Slice

The initial allocation or offering of a resource, opportunity, or product, indicating priority or privilege in its reception.

Second Slice

Implies a subsequent option or opportunity, often discussing additional choices available after an initial selection has been made.

MR>MC

A condition where marginal revenue (MR) exceeds marginal costs (MC), indicating a potential profit increase if production is expanded.