Which of the following is a method in which parallel cost lines are plotted in the LP graphical solution approach to determine the least cost solution to LP problems with cost minimization objective?
A)graphical method
B)corner point solution method
C)iso-cost line method
D)iso-profit line method

Question

Quizplus · Accepted Answer

The method described in the question is the iso-cost line method. This involves plotting parallel cost lines on the graph and finding the intersection point that gives the lowest cost solution. Therefore, option C is the correct answer.

Option A, the graphical method, is a broad term that refers to any method that uses graphs to solve LP problems. This includes the iso-cost line method but also includes other methods such as the corner point method.

Option B, the corner point solution method, involves analyzing the corner points of the feasible region to find the optimal solution. It does not involve parallel cost lines, so it is not the best choice in this case.

Option D, the iso-profit line method, is used in LP problems with profit maximization as the objective function. It is not relevant to the cost minimization problem described in the question.

Which of the Following Is a Method in Which Parallel