The simplex method is a computational procedure based on the principle of sequential improvement of solutions during the transition from one base point (basic solution) to another. This improves the value of the objective function. The basic solution is one of the valid solutions that are at the vertices of the realm of valid values. […]
Tag: Evaluation
Representatives of the neoclassical school
Following A. Smith and K. Marx, the mechanisms of market competition were considered by representatives of the neoclassical school. Unlike their predecessors, they argued that the value of goods is created not in the process of production, but in the market, where individual estimates of the value of goods by individual sellers and individual buyers […]