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What Are the Assumptions of Linear Programming? Provide Examples of Each

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What are the assumptions of linear programming? Provide examples of each.


Definitions:

Reference Price

The price point, set by a seller or recognized by a buyer, which serves as a standard for comparison when evaluating potential purchases.

Sales Force

A group of employees working together to sell a company's products or services.

Pricing Strategy

The method adopted by a company to set its products' or services' prices, considering the market, competition, cost, and demand.

Advertisement

A public notice especially in print, broadcast, or online, promoting the sale of goods or services.

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