The difference between minimization and maximization problems is that
A) minimization problems cannot be solved with the corner-point method
B) maximization problems often have unbounded regions
C) minimization problems often have unbounded regions
D) minimization problems cannot have shadow prices
E) None of the above are true.

Question

Quizplus · Accepted Answer

In minimization problems, the objective is to find the minimum value of the objective function, which may occur at any point within the feasible region, including points that are not bounded by constraints (i.e. unbounded regions). Choice A is incorrect as minimization problems can be solved using the corner-point method. Choice B is incorrect as unbounded regions can occur in both minimization and maximization problems. Choice D is incorrect as minimization problems can have shadow prices, just like maximization problems. Therefore, the correct answer is C.

The Difference Between Minimization and Maximization Problems Is That