Rounding Non-Integer Solution Values Up to the Nearest Integer Value

question 64

True/False

Rounding non-integer solution values up to the nearest integer value will still result in a feasible solution.

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Definitions:

Wage Rate

The fixed amount of compensation or payment given to an employee by an employer in exchange for work performed, typically expressed on an hourly, daily, or piecework basis.

Workers

Individuals engaged in any form of employment or activity to earn income through the provision of labor or services.

Substitution Effect

The economic principle stating that as the price of a good or service rises, individuals will replace more expensive items with less costly alternatives.

Output Effect

The impact that changes in output have on economic activity, such as variations in production levels affecting GDP.