There are at least two ways to define subproblems for this model. First, a subproblem can be defined for each maturity and each year it can be purchased. In Fig. there are a total of 12 subproblems using this definition. Second, a subproblem can be defined for each maturity regardless of when it is purchased. In Fig. there are a total of 3 subproblems using this definition.

a) Explain why the choice of subproblem definitions need have no impact on the solution procedure adopted for the subproblems.

b) Explain how the restricted master will differ under each definition of the subproblems.

c) Which choice of subproblem definitions will make the restricted master more efficient to solve? Why? d) If there was a weighting constraint for each subproblem, how would your answer to (c) be affected? [Hint. Which definition would add more weighting constraints?]