In break-even analysis, what is the break-even point?
a) the quantity where revenue equals total cost
b) the quantity where revenue equals fixed cost
c) the quantity where revenue equals variable cost
d) the quantity beyond which the firm starts to lose money
e) the quantity where variable cost equals fixed cost
Answer: a
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- The ____________ for a constraint is the amount the optimal objective value will change if the right-hand-side of the constraint is increased by one unit.
- One use of the Answer report is:
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- Constraints that are not at their limits at the optimal solution of a Linear Program, that is, with the left-hand-side value not equal to the right-hand-side value, are called _________.
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- At the optimal solution of a Linear Program, the difference between the right-hand-side value and the left-hand-side value of a constraint is the ________________.
- Three reports are available when Solver has successfully found an optimal solution. These are _______.
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- In the "Solver Options" box of Excel Solver, what should be checked to ensure that the Simplex Method is used to solve the model?
- In the "Solver Parameters" box of Excel Solver, what is clicked to actually solve the problem?
- Constraints at their limits at the optimal solution of a Linear Program, that is, with the left-hand-side value equal to the right-hand-side value, are called _________________________.
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- What in Excel Solver corresponds to the objective function in the algebraic model?
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- George Dantzig developed the ___________________ in 1947 to solve Linear Programs.
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- For an optimization problem a(an) __________________ violates at least one of the constraints.
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- Which of the following is true regarding the linearity of the functions?
- Which of the following statements is correct?