How Can the Following Linear Program Be Characterized

question 56

Multiple Choice

How can the following Linear Program be characterized?
Min X + Y
Subject to
X ≤ 20
Y ≤ 5
X + Y ≥ 40
X, Y ≥ 0

• A) bounded and feasible
• B) unbounded and feasible
• C) bounded and infeasible
• D) unbounded and infeasible
• E) this is not a Linear Program

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Definitions:

Implicit Costs

The opportunity costs that arise from using assets, resources, or funds to undertake an action instead of another activity, not directly recorded in financial statements.

Explicit Costs

Direct monetary expenses incurred in the course of doing business, such as wages, rent, and materials.

Peak Efficiency

The optimal point at which a particular process or system operates with maximum effectiveness or efficiency.

MC = MR

The point where Marginal Cost equals Marginal Revenue, considered the optimal point of production for maximum profit.