Using the Iso-Profit Line Solution Method to Solve a Maximization

question 28

Multiple Choice

Using the iso-profit line solution method to solve a maximization problem requires that we:

• A)find the value of the objective function at the origin.
• B)move the iso-profit line away from the origin until it barely touches some part of the feasible region.
• C)move the iso-cost line to the lowest level that still touches some part of the feasible region.
• D)test the objective function value of every corner point in the feasible region.
• E)none of the above

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Definitions:

Empirical Research

A way of gaining knowledge by means of direct observation or experience, employing systematic and scientifically valid methods to gather data.

Behavior Modification

The use of empirically demonstrated behavior change techniques to improve behaviors and replace undesirable behaviors with more desirable ones.

Desirable Behaviors

Desirable behaviors are actions considered favorable or appropriate within a certain context or society, often encouraged and reinforced through social norms and by rewards.

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A therapy based on the science of learning and behavior, which uses behavioral principles to improve significant behaviors and skills and to remove or reduce harmful behaviors.