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The Requirements of Linear Programming Problems Include an Objective Function

question 45

Essay

The requirements of linear programming problems include an objective function, the presence of constraints, objective and constraints expressed in linear equalities or inequalities, and ________.


Definitions:

Factors Of Production

Four basic inputs for effective operation: land, labor, capital, and entrepreneurship.

Overall Supply

The total amount of a product or service available in a market at any given time.

Economic Growth

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time, often measured as the percentage increase in real gross domestic product (GDP).

Standard Of Living

Necessities, comforts, and luxuries one seeks to obtain or to maintain.

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