For a Minimum Cost Flow Problem to Have a Feasible

question 1

Multiple Choice

For a minimum cost flow problem to have a feasible solution, which of the following must be true?

• A) There is the same number of supply nodes and demand nodes.
• B) There is only one supply node and one demand node.
• C) There is an equal amount of supply and demand.
• D) The supply and demand must be integers.
• E) The transshipment nodes must be able to absorb flow.

Understand the concept of market equilibrium and how shifts in supply and demand affect equilibrium price and quantity.

Identify and define substitutes and complements and their impact on demand.

Analyze the effects of market and government actions on market equilibrium.

Understand the concept of excess demand (shortage) and excess supply (surplus) in unregulated markets and predict market adjustments.

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Definitions:

Price Discrimination

The practice of charging different prices for the same product or service to different consumers, based on what each is willing to pay.

Senior Citizens

Individuals of an advanced age, often defined as being 65 years old or older, who may have different social, economic, and healthcare needs.

Walmart

An American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores, known for its scale and efficiency in supply chain management.

Price Discrimination

The business strategy of selling the same product to different customers at different prices based on their willingness to pay.