Question: There are 7 feasible solutions for the above technology selection problem. These feasible solutions, technologies selected under each feasible solution, and each feasible solution s

There are 7 feasible solutions for the above technology selection problem. These feasible solutions, technologies selected under each feasible solution, and each feasible solutions total profit and total environmental benefit are given in the table below. In addition, a scatter chart gives the corresponding points of these feasible solutions in the objective space.
1=selected, 0=not selected Total Profit Total Environmental Benefit
Technology 1 Technology 2 Technology 3
Solution 100000
Solution 20013020
Solution 30105010
Solution 40118030
Solution 51001070
Solution 61014090
Solution 71106080
b) Based on the table and scatter plot of the feasible solutions and their corresponding points, answer the following questions by just writing the correct solution numbers.
i. Which solution is the total profit maximizing solution? Answer:________________________
ii. Which solution is the total environmental benefit maximizing solution? Answer:_____________
iii. Which solutions are Pareto Efficient solutions? Answer:____________

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!