For cost-benefit-tradeoff problems, minimum acceptable levels for each kind of benefit are prescribed and the objective is to achieve all these benefits with minimum cost.

Name: For cost-benefit-tradeoff problems, minimum acceptable levels for each kind of benefit are prescribed and the objective is to achieve all these benefits with minimum cost.
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Quizplus · Accepted Answer

This is an accurate description of cost-benefit-tradeoff problems. The goal is to achieve a minimum acceptable level of all benefits while minimizing costs.

For Cost-Benefit-Tradeoff Problems, Minimum Acceptable Levels for Each Kind of Benefit