The Optimal Solution to a Linear Programming Model That Has

question 43

Multiple Choice

The optimal solution to a linear programming model that has been solved using the graphical approach

• A) is typically located at the origin.
• B) must be below and on the left side of all constraint lines.
• C) must be above and the the right of all constraint lines.
• D) is typically at some corner of the feasible region.

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Definitions:

Money Income

The number of dollars a person receives per period, such as $400 per week.

Supply Curve

A curve showing the relation between the price of a good and the quantity producers are willing and able to sell per period other things constant.

Law of Demand

An economic principle that states the inverse relationship between the price of a good or service and the quantity demanded.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to buy at a specific price.