______________can be defined as the determination of that course of action or combination of alternatives that yields either the lowest cost or the highest profit.

______________can be defined as the determination of that course of action or combination of alternatives that yields either the lowest cost or the highest profit.

A. Economic optimization

B. Simulation

C. Linear programming

D. Dynamic programming

View Answer

Answer: A

Explanation:

Economic optimization is the process of determining the course of action or combination of alternatives that yields the lowest cost or the highest profit. This concept involves analyzing various options to identify the one that maximizes financial returns or minimizes costs, typically using mathematical models and decision-making frameworks.

Option B: Simulation refers to creating a model to replicate the behavior of a system over time, which may be used in optimization but is not the definition of optimization itself.

Option C: Linear programming is a specific mathematical technique used for optimization but does not encompass the broader concept of economic optimization.

Option D: Dynamic programming is another mathematical approach to solving optimization problems but is again a specific technique rather than the overall process.

Therefore, A. Economic optimization is the correct answer as it encapsulates the concept of determining the most cost-effective or profitable course of action.