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    Act3 (Chapter3) Delq Cruz, Shiela Jane L (Bsa2a)

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    Alexandra James
    This document contains a review of optimization techniques for an eLMS course. It includes 10 multiple choice questions testing understanding of key optimization concepts like network analysis, constraints, profit maximization, cost minimization, and profit symbols. It also includes a matching question to link optimization symbols and concepts like marginal profit, total revenue, average cost, marginal cost, and marginal revenue. The review covers optimization methods and how they apply to business problems like project management and profit optimization.

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    Act3 (Chapter3) Delq Cruz, Shiela Jane L (Bsa2a)

    Uploaded by

    Alexandra James
    21 views3 pages
    This document contains a review of optimization techniques for an eLMS course. It includes 10 multiple choice questions testing understanding of key optimization concepts like network analysis, constraints, profit maximization, cost minimization, and profit symbols. It also includes a matching question to link optimization symbols and concepts like marginal profit, total revenue, average cost, marginal cost, and marginal revenue. The review covers optimization methods and how they apply to business problems like project management and profit optimization.

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    ACT3(CHAPTER3) DELQ CRUZ, SHIELA JANE L(BSA2A)

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    This document contains a review of optimization techniques for an eLMS course. It includes 10 multiple choice questions testing understanding of key optimization concepts like network analysis, constraints, profit maximization, cost minimization, and profit symbols. It also includes a matching question to link optimization symbols and concepts like marginal profit, total revenue, average cost, marginal cost, and marginal revenue. The review covers optimization methods and how they apply to business problems like project management and profit optimization.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    21 views3 pages

    Act3 (Chapter3) Delq Cruz, Shiela Jane L (Bsa2a)

    Uploaded by

    Alexandra James
    This document contains a review of optimization techniques for an eLMS course. It includes 10 multiple choice questions testing understanding of key optimization concepts like network analysis, constraints, profit maximization, cost minimization, and profit symbols. It also includes a matching question to link optimization symbols and concepts like marginal profit, total revenue, average cost, marginal cost, and marginal revenue. The review covers optimization methods and how they apply to business problems like project management and profit optimization.

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    © All Rights Reserved
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    of 3

    BM1704

    Dela Cruz, Shiela Jane L. BSA-2A

    eLMS REVIEW: OPTIMIZATION

    I. MULTIPLE CHOICE (5 items x 2 points)


    A 1. Which optimization technique would most likely be used if a firm wants to manage the
    progress of a project?
    A. Network Analysis C. Linear Programming
    B. Queuing Theory D. Decision Analysis

    1)Answer: Network analysis (NA) is a


    set of integrated techniques to depict
    relations among actors and to analyze
    the social structures that emerge from
    the recurrence of these relations. The
    basic assumption is that better
    explanations of social phenomena are
    yielded by analysis of the relations
    among entities. Network analysis
    provides the capacity to estimate
    complex patterns of relationships and the
    network structure can be analyze to
    reveal core features of the network.

    B 2. In an optimization problem, which of the following elements describes the limits on


    the values that variables can take?
    A. Decision variables C. Objective function
    B. Functional constraint D. Feasible solution

    2)Answer: Economic constraints are


    external constraints imposed on a
    company that can influence its success
    or failure but are also often outside of a
    company's control. Microeconomic
    factors, such as supply and demand,
    market size, and market potential, also
    impose economic constraints on a
    company. the process of optimizing an
    objective function with respect to some
    variables in the presence of constraints
    on those variables.
    D 3. Which of these would result to profit maximization?
    A. MC = 0 C. MR < MC
    B. MR > MC D. MR = MC

    3)Answer: The Profit Maximization Rule


    states that if a firm chooses to maximize
    its profits, it must choose that level of
    output where Marginal Cost (MC) is
    equal to Marginal Revenue (MR) and
    the Marginal Cost curve is rising. In
    other words, it must produce at a level
    where MC = MR

    C 4. Which of these would result in minimization of average cost?


    A. MC > AC C. MC = AC
    B. MC < AC D. AC > TC

    4)Answer: Marginal cost (MC) is the


    extra cost incurred when one extra unit
    of output is produced. Average product
    (AC) is the total cost per unit of output.
    When the MC is smaller the AC, the AC
    decreases.

    C 5. Which of these is the symbol for profit?


    A. ∆ C. π
    B. β D. λ

    5)Answer: There is no concrete reason


    available as to why the sign of Pi, Greek
    letter π , is used to denote economic
    profit. Pi(ππ) is a mathematical constant
    which was originally the ratio of a circle's
    circumference to its diameter. It is now
    used to denote a variety of concepts from
    economics, physics, and mathematics.
    II. MATCHING TYPE. Match the symbols to the items. (5 items x 2 points)

    A. 𝑷 × 𝑸 E 1. Marginal profit
    ∆ 𝑻𝑹
    B. D 2. Average cost
    ∆𝑸
    ∆ 𝑇𝐶
    C. A and F 3. Total revenue
    ∆𝑄
    𝑇𝐶
    D C 4. Marginal cost
    𝑄
    ∆𝜋
    E. B 5. Marginal revenue
    ∆𝑄

    F. 𝐹 (𝑄)

    03 eLMS Review 1 *Property of STI


    Page 1 of 1

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