How Is an LP Problem Changed into an ILP Problem

question 28

Multiple Choice

How is an LP problem changed into an ILP problem?

• A) by adding constraints that the decision variables be non-negative.
• B) by adding integrality conditions.
• C) by adding discontinuity constraints.
• D) by making the RHS values integer.

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Definitions:

Total Revenue

The overall financial gain a business obtains from the sale of goods or delivery of services within a specific timeframe.

Competitive Price-searcher

A market situation where firms have some control over their prices because their products are differentiated, leading them to search for competitive pricing strategies.

Marginal Cost

The cost incurred by producing one additional unit of a product.

Average Cost

The cost per unit of output, represented by dividing the total production cost by the quantity of units produced.