PRC-2 · Chapter 4 · Question 19 of 60
The specific mathematical equation that a company seeks to maximize (such as total profit) or minimize (such as total costs) is formally called the:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) Objective function
Explanation
The objective function (often denoted as Z or P) is the primary linear equation in the model that represents the target goal the business is trying to optimize, like P = 10x + 15y.
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