Which of the Following Statements Is False

question 19

Multiple Choice

Which of the following statements is false?

• A) In genetic algorithms, crossover means combining portions of good outcomes.
• B) Generic algorithms are best suited for decision making where there are thousands of solutions.
• C) Users have to tell the generic algorithm what constitutes a "good" solution.
• D) In genetic algorithms, mutation means randomly trying combinations and evaluating the outcome.
• E) All of these statements are true.

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Definitions:

Price-Discriminating Firm

A company that engages in the practice of charging different prices for the same product in different markets or segments.

Elastic Demand

Refers to a situation where the quantity demanded of a good or service significantly changes in response to a change in price.

Inelastic Demand

A situation where the demand for a good or service is not significantly changed by alterations in its price.

Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating how sensitive consumers are to price changes.