To Find the Optimal Solution to a Linear Programming Problem

question 23

Multiple Choice

To find the optimal solution to a linear programming problem using the graphical method,

• A)find the feasible point that is the farthest away from the origin.
• B)find the feasible point that is at the highest location.
• C)find the feasible point that is closest to the origin.
• D)None of these are correct.

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Definitions:

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded.

Nominal Interest Rate

The stated interest rate on a loan or investment, not adjusted for inflation.

Loanable Funds

The money available for borrowing; the market where savers supply funds for loans to borrowers.

Supply

A relation between the price of a good and the quantity that producers are willing and able to sell per period, other things constant.