• A well-defined objective function. The objective must be sated and it can be a maximization or a minimization of costs.
• There must be limited resources. There must be restrictions to the amount of resources used to attain the objective and those resources must be quantified economically and limited in supply.
• Alternative cost of actions. Since a firm uses many alternatives or a combination of resources to achieve its chosen goals there must be alternative causes of actions.
• Mathematical formulation. The organization objective equation and the inequalities must be mathematically expressed in order to obtain accurate means of measurement.
• Linearity of the objective function and constraints. All the equations and the equalities must describe the problem in a linear form
skilled writter answered the question on April 27, 2018 at 17:49
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