When Using Branch and Bound to Solve an Integer Programming

question 61

Multiple Choice

When using branch and bound to solve an integer programming problem, if the value of X₁ = 2.5 at a given node, then one of the descendant branches would have which one of the additional constraints?

• A) X₁ ? 2
• B) X₁ ? 3
• C) X₁ = 3
• D) X₁ ? 2
• E) X₁ = 2

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Definitions:

Implicit Costs

Indirect expenses related to business operations, such as opportunity costs, not directly paid out in cash.

Economic Profits

The excess of total revenue over total costs, including both implicit and explicit costs.

Implicit Costs

Costs that represent the opportunity cost of using resources that are not directly paid for, such as the owner’s time or the use of assets owned by the firm.

Explicit Costs

Direct, out-of-pocket payments for resources or services used in the production process.