Examlex
Given the nonlinear programming model:
Max Z = 5x1 - 2x22
Subject to: x1 + x2 = 6
What is the optimal value of the objective function?
Absolute Value
The non-negative value of a number without regard to its sign.
Demand Schedule
A table that shows the quantity of a good that consumers are willing and able to purchase at various prices.
Price Elasticity
The examination of demand sensitivity to price modifications of a particular good.
Perfectly Elastic
A state of demand or supply in which the quantity demanded or supplied changes infinitely in response to any change in price.
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