Asked by Jeffrey Morales on May 19, 2024
Verified
In linear programming, a constraint represents:
A) the objective function.
B) the contribution margin per unit.
C) the limitations faced by the firm.
D) the break-even level of activity.
Linear Programming
A mathematical technique used for allocation of resources and optimization of outcomes in decision making, typically involving minimizing costs or maximizing revenues.
Constraint
A limitation or restriction that impacts the performance, process, or execution of a project, activity, or system.
Limitations
The restrictions or constraints that may affect the feasibility or effectiveness of a process, system, or action.
- Learn the significance of linear programming in optimizing production and pricing strategies amidst resource constraints.
Verified Answer
RA
Rebeca AlvarezMay 26, 2024
Final Answer :
C
Explanation :
A constraint in linear programming represents the limitations faced by the firm, such as limited resources or production capacities. The objective function represents the goal or objective of the firm, while contribution margin per unit and break-even level of activity are concepts used in cost-volume-profit analysis, which may or may not be relevant in linear programming problems.
Learning Objectives
- Learn the significance of linear programming in optimizing production and pricing strategies amidst resource constraints.