Classification of Management Science Techniques does Not Recognize

question 119

Multiple Choice

Classification of management science techniques does not recognize

• A) linear mathematical programming.
• B) probabilistic techniques.
• C) network techniques.
• D) computer programming.

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Definitions:

Present Value

The current value of future cash flows or a lump sum of money, determined by a certain rate of return.

Delaying Resource Extraction

The practice of postponing the extraction of natural resources to preserve them for future use, often for sustainability reasons.

Profit-Maximizing

The process of adjusting production and operations to achieve the highest possible profit based on current market conditions and cost structures.

Market Failure

Occurs when the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss.