11. how does the linear programming be applied on managerial economics

a. optimal product mix

b. satisfying minimum product requirement

c. long-run capacity

d. optimal process selection

e. all of the foregoing

f. both b and c

g. both a and b only

12. ___________ it refers to determining the marginal contribution (showed price) of an input production and profits can be very used to the firm in its investment decisions and future profitability.

a. isoquant map

b. isocost map

c. different level of cost and output

d. optimal product mix

13. _______ measures how much of one resource should be given up in order to buy an additional unit of the other, given a fixed budget.

a. marginal rate of substitution

b. marginal cost

c. isocost

d. maximum value

14. ______ refers to the efficiency of input to produce output.

a. productivity

b. cost effectiveness

c. marginal productivity

15. _________________ pertains to the systematic process that involves anticipating the demand for the product and services of an organization in the future under a set of uncontrollable and competitive forces.

a. regression analysis

b. linear programming

c. demand estimation

d. demand forecasting