A Linear Formulation Means That

question 19

Multiple Choice

A linear formulation means that:

• A) the objective function and all constraints must be linear
• B) only the objective function must be linear
• C) at least one constraint must be linear
• D) no more than 50% of the constraints must be linear

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Definitions:

Fairness of the Bargain

The equitableness or justness of the terms agreed upon in a contractual agreement.

Lawful Purpose

A lawful purpose is an action, contract, or transaction that is not in violation of any legal statutes or regulations.

Quantum Meruit

Quantum meruit is a legal principle allowing a party to recover the reasonable value of services provided, even in the absence of a formal contract.

Promissory Estoppel

A legal doctrine preventing a person from going back on a promise, even if it was made without formal consideration, when others have relied on that promise to their detriment.