Question: In the context of a price takers problem, define and explain the meaning of (in the languages of algebra, geometry and economics) A. Basis, feasible

In the context of a price taker’s problem, define and explain the meaning of (in the languages of algebra, geometry and economics)

A. Basis, feasible basis B. Cone, feasible cone C. Technology, basic feasible technology.

D. Feasible solution, basic feasible solution E. Feasible point, extreme point F. Production plan, basic production plan

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