Choose the Packing That Results from the Use of the Next-Fit

question 56

Multiple Choice

Choose the packing that results from the use of the next-fit decreasing (NFD) bin-packing algorithm to pack the following weights into bins that can hold no more than 8 lbs. $$61 \mathrm { bs } , 2 \mathrm { lbs } , 4 \mathrm { lbs } , 3 \mathrm { lbs } , 5 \mathrm { lbs } , 3 \mathrm { lbs } , 2 \mathrm { lbs } , 4 \mathrm { lbs }$$

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Definitions:

Market Price

The existing rate at which a product or service may be purchased or sold within a market environment.

Competitive Market

A market structure where many firms offer products or services that are similar, leading to high levels of competition.

Perfectly Competitive

A market structure characterized by a large number of small firms, homogenous products, and free entry and exit, leading to optimal distribution of resources.

MR = MC

An economic principle where the marginal revenue (MR) equals the marginal cost (MC), often used as a condition for profit maximization.