a constrained minimization problem,the decision maker
A)is constrained by the specific amount of total benefits.
B)is constrained by the choice set of values for the activities.
C)seeks to minimize the cost of achieving a specific goal.
D)all of the above
E)none of the above

Question

Quizplus · Accepted Answer

A constrained minimization problem involves minimizing a certain objective function subject to certain constraints. In this case, the decision maker is constrained by the specific amount of total benefits they can achieve and the choice set of values for the activities they can undertake. Additionally, they may seek to minimize the cost of achieving their goal. Therefore, all of the above options (A, B, and C) are correct.

A Constrained Minimization Problem,the Decision Maker