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1. The maximization or minimization of a quantity is the

a. goal of management science.
b. decision for decision analysis.
c. constraint of operations research.
d. objective of linear programming.

2. Which of the following is a valid objective function for a linear programming problem?
a. Max 5xy
b. Min 4x + 3y + (2/3)z
c. Max 5x2 + 6y2
d. Min (x1 + x2)/x3

3. A solution which satisfies all the constraints of a linear programming problem except the nonnegativity constraints is called
a. optimal.
b. feasible.
c. infeasible.
d. semi-feasible.

4. To find the optimal solution to a linear programming problem using the graphical method
a. find the feasible point that is the farthest away from the origin.
b. find the feasible point that is at the highest location.
c. find the feasible point that is closest to the origin.
d. none is these is true.

5. The improvement in the value of the objective function per unit increase in a right-hand side is the
a. sensitivity value.
b. dual price.
c. constraint coefficient.
d. slack value.

Cost minimization for a given level of production is equivalent or identical the concept of product maximization for a given cost level. True of False. Explain. Please offer examples and the use of graphs where necessary.

Prove that profit maximization implies cost minimization but not vice versa.
I'm looking for a mathematical proof (I think its involving convexity/concavity, I'm not quite sure?)
The types of proofs we learned in class are:
the proofs i learned in class are
Direct Proof. Assume that A is true, deduce various conse

In making inventory decisions, the purpose of the basic EOQ model is to minimize
a. carrying costs.
b. ordering costs.
c. stock on hand.
d. the sum of carrying costs and ordering costs.
If the addition of a constraint to a linear programming problem does not change the
feasible solution region, the constraint is said

It costs Dan's company C(x) = x^2 - 3x + 64 dollars to produce x items. The selling price (p) when x hundred units are produced is p(x) = (44 - x)/4. Determine the level of production (# of items produced) that maximizes profit.

For Firm Y:
Use the demand function: P = 30 - 2Q
And the marginal cost function: MC = 20 to determine P and Q for profit maximization.
Then, suppose a government subsidy of $6 per unit is imposed.
What does the firm do with respect to price and quantity?

1. What are slack, surplus, and artificial variables? When is each used and why?
2. Discuss the similarities and differences between minimization and maximization problems using the graphical solution approaches of linear programming.

Discuss the requirements of a linear programming (LP) model. Provide an example of an LP model and define each variable used. What are the key steps that need to be considered when formulating an LP problem?